PromoRepublic nabs EUR 500K funding and heads to the USA
Finnish-Ukrainian startup PromoRepublic has closed a 500 000-euro round and has launched in the USA.
The first part of the capital boost came in December last year, in the shape of 100 000 euros from Finnish investor Pekka Koskinen, the Vendep fund and Tekes.
The remaining 400 000 euros was recently secured from lead investors Finnish entrepreneur Sampo Parkkinen and Ukrainian VC fund Digital Future.
PromoRepublic seeks to turn owners of SMEs into content marketing gurus by helping them to create content for social networks.
The startup was founded in Kiev in 2013, and is using Helsinki as the base for its global expansion. A participant in the local Startup Sauna accelerator, this new investment is now being used for promotion in the US market.
“The segment of software for freelancers in the United States is growing at a rate of 40 per year, and there is plenty of space for new companies on this market,” states PromoRepublic co-founder Max Pecherskyi. “Just after the launch we’ve got more than hundred paying customers from America.”
Having already tested more than 25 different marketing channels in the United States, Promo Republic is now selling its service through partnerships with large American marketing services and other marketing platforms.
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