Funding

[Funding alert] Lisbon-based Aptoide Raises €8.5M in a Fresh Round Funding

Nov 13, 2023 | By Startup Rise EU

Lisbon-based Aptoide has raised €8.5 million from Digital Turbine, the leading independent platform for mobile growth.

Lisbon-based Aptoide has raised €8.5 million from Digital Turbine, the leading independent platform for mobile growth.

A strategic investment in Aptoide was announced by Digital Turbine in October 2022, which was the first move in the two businesses' successful partnership. Aptoide's $12 million USD Series-B capital round was led by Digital Turbine's original investment, which also included contributions from Faurecia, Portugal Ventures, and the 200M Fund, a Portuguese co-investment business.

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The funds will be used by the business to market GamesHub and Catappult, two mobile app platforms, and to speed up growth. Digital Turbine and Aptoide partnered to create GamesHub, a game app store that is already well-known for being the preferred platform for big American operators.

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By the end of 2023, it hopes to have 80–100M devices available and increase its market share in the US. An other platform for distributing and monetizing mobile games is called Catappult.

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It streamlines distribution, marketing, and monetization by connecting developers to more than 20 alternative app stores globally through its hundreds of millions of users.

Paulo Trezentos, CEO of Aptoide said,"We are thrilled to strengthen our partnership with Digital Turbine and leverage their expertise to enhance app discovery and distribution," This investment highlights Aptoide's remarkable development and potential, demonstrating the partnership's enormous potential to change the mobile app distribution industry".

A mobile platform called Digital Turbine links OEMs, carriers, publishers, and ads. Digital Turbine improves advertising and monetization by integrating a full advertising stack with proprietary technology into the devices of wireless carriers and OEMs.

Digital Turbine CEO Bill Stone said, "With Aptoide, we've been able to create a highly curated environment for premium app discovery through GamesHub," The growing collaboration makes use of technology from both businesses to provide fresh, cutting-edge distribution solutions for our OEM, app developer, and mobile operator clients. We are enthusiastic about our joint strategic direction and the partnership's possibilities.

About Aptoide

Paulo Trezentos and Alvaro Pinto launched Aptoide, the first social Android app store, in 2011. Aptoide is a community-based platform with over 430 million users, 4 billion downloads, and 1 million apps. Its personalised recommendations, social atmosphere, and feature that lets users build and share their own app stores are all part of its mission to revolutionise the app discovery experience.

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