SponsorPay raised $5 million in Series A from Hasso Plattner Ventures

Virtual European currency monetization platform, SponsorPay, that has rapidly become the dominant force in virtual currency monetization in the region, reported it has raised $5 million in Series A funding led by Hasso Plattner Ventures.

Team Europe Ventures also participated in this round. SponsorPay said it will use the investment to accelerate growth in international markets and further expand its leadership role in Europe.

As stated Andreas Bodczek, CEO of SponsorPay, “We are very happy that Hasso Plattner Ventures have joined our team of investors. Their international network and experience will help us extend our leadership beyond Europe.” “We consistently generate up to five times more revenue from European traffic when compared with our US-based competitors,” he added.

Recently, the company has signed contracts with leading international publishers 6waves and Perfect World and expects to work with at least 50% of the largest US-based publishers by the end of the year.

This latest infusion of capital is testament to SponsorPay’s tremendous growth – within the past year the company has expanded to 40 employees and serves local advertising offers to over 150 million users in more than 100 countries.