HPE Growth backs WeTransfer in €35M secondary funding round

TechCrunch | 8/19/2019 | Staff
emilia (Posted by) Level 3
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WeTransfer, the Amsterdam-headquartered company that is best know for its file-sharing service, is disclosing a €35 million secondary funding round.

The investment is led by European growth equity firm, HPE Growth, with “significant” participation from existing investor Highland Europe. Being secondary funding — meaning that a number of shareholders have sold all or a portion of their holding — no new money has entered WeTransfer’s balance sheet.

Jonne - Leeuw - HPE - WeTransfer - Co-founder

We are also told that Jonne de Leeuw, of HPE, will replace WeTransfer co-founder Nalden on the company’s Supervisory Board. He joins Bas Beerens (founder of WeTransfer), Irena Goldenberg (Highland Europe) and Tony Zappalà (Highland Europe).

The exact financial terms of the secondary funding, including valuation, aren’t being disclosed. However, noteworthy is that WeTransfer says it has been profitable for 6 years.

Valuation - Company - Series - A - CEO

“The valuation of the company is not public, but what I can tell you is that it’s definitely up significantly since the Series A in 2015,” WeTransfer CEO Gordon Willoughby tells me. “WeTransfer has become a trusted brand in its space with significant scale. Our transfer service has 50 million users a month across 195 countries, sharing over 1.5 billion files each month”.

In addition to the wildly popular WeTransfer file-sharing service, the company operates a number of other apps and services, some it built in-house and others it has acquired. They include content sharing app Collect (claiming 4 million monthly users), sketching tool Paper (which has had 25 million downloads) and collaborative presentation tool Paste (which claims 40,000 active teams).

People - Results - Tools

“We want to help people work more effectively and deliver more impactful results, with tools that collectively...
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