Social & Beyond gets 400k €
Investment will fund international expansion
Social&Beyond, a Wayra Spain portfolio company, has just closed a seed round of €400K to scale-up in different markets. Investors include 101Start-Ups, private investors and various family offices.
Based in Barcelona, the start-up has developed an innovative platform that allows every brand to offer free Wi-Fi to customers in the point of sale in exchange of a “Like” in Facebook or similar viral marketing actions in social networks. In this sense, what was previously an IT expenditure becomes a marketing opportunity, which is why various multinational brands are currently doing pilots with the start-up and why Telefonica is investigating possible avenues of collaboration.
Jordi Vallejo, founder and CEO of Social&Beyond, and formerly the CTO of FON (Martin Varsavsky’s latest start-up) explains: “This system is the easiest and most economical way for brands to take advantage of Wi-Fi and social networks to communicate and develop more meaningful relationships with their customers far beyond the point of sale.”
The start-up currently employs 10 people and expects to close its next investment round during the first quarter of 2014.