Funding

hello.app funding news – Barcelona-based hello.app Secures €500k in Seed Funding

Jul 4, 2024 | By Startup Rise EU

Hello.app, a Spanish startup, has raised €500k in seed capital and is valued at €16 million. It is among the first companies globally to compensate consumers for the storage space on their personal mobile devices, such as laptops, tablets, or phones.

SUMMARY

Hello.app, a Spanish startup, has raised €500k in seed capital and is valued at €16 million.
hello.app, The app was started in 2022 by 19-year-old Álvaro Pintado Santaularia, a young entrepreneur.

Along with some of the present partners, the round comprised a number of investors and private funds from throughout Europe. Private investors including Ethermail inventor Gerald Heydenreich, David Holtmann, and Albert Bonet are a few of them.

The money raised will go towards developing and releasing the app for iOS and Android platforms as well as turning on the "contribution node" feature, which will allow the app to establish itself as the first of its kind to compensate users for unused storage on their mobile devices.

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The €170,000 investment round that was finalised with investors like Iese, Esade, Castiventures, and Bcombinator, as well as a loan of €130,000 from the National Innovation Company (Enisa), are augmented by this operation.

Hi there.The app's value proposition centres on mitigating the drawbacks of conventional Web2 storage solutions and presenting itself as a Web3 substitute for well-known centralised cloud giants such as Google and Dropbox. By "renting out" the storage capacity of their devices, they enable their users to generate an additional revenue stream.

Álvaro Pintado, CEO of hello.app said, “We have taken the system of successful companies like Airbnb or Uber and applied it to data storage, In a short time, computers like our phones, iPads, or laptops will be able to replace large centralized server farms with distributed storage, which means, on the one hand, that those who own these farms will become increasingly dispensable, and on the other, that whoever manages to build the first decentralized and collaborative computing and storage network based on the devices we already have, will be unstoppable.”

About hello.app

hello.app, The app was started in 2022 by 19-year-old Álvaro Pintado Santaularia, a young entrepreneur. It has over 200k users from over 200 countries and plans to achieve 3 million users by 2025.