Early Game Ventures, Daniel Dines and other angel investors invest EUR 2.5 million in FameUp
Today, we take a new BIG step forward in our journey! Early Game Ventures (earlygame.vc) announces the signing of an investment round of 2.5 million euros in our awesome app. Bogdan Gheorghiu, Daniel Dines and Marian Dinu participate as angel investors and the DLA Piper team, formed by Cristina Bucur and Ciprian Frandeș, provided the legal assistance of the transaction.
“FameUp is a platform open to anyone, not just celebrities,” says Ionuț Pătrășcoiu, founder and CEO of FameUp. “We also give the possibility to those with a small number of followers on the social platforms Instagram, Facebook or TikTok to participate in promotion campaigns and to earn a substantial income. From this perspective, our startup is part of the gig economy, along with other technology companies such as Uber, Airbnb, or Glovo.”
On the other hand, our application is a new communication channel for small brands and family businesses, which do not have large promotion budgets. Through FameUp, a cafe or a restaurant, a hair salon, or a travel agency can be promoted on social networks with less than 50 EUR or even without money, offering in return products or services: a cappuccino or a manicure for a post made by a local influencer. The relevance and authenticity of these posts are much higher than those made by celebrities that are sometimes hundreds or thousands of miles away. And this can be seen in the immediate sales results.”
“Our success in the testing stage was extraordinary, proving that such an application was needed in the market,” added Ionuț Pătrășcoiu. “The idea for this application came from my discussions with Daniel Dines, who was my mentor and whom I want to thank. I also thank Bogdan Gheorghiu, who believed in the team from the beginning and who invested a lot for FameUp to reach this stage. Without these people, we would not be in a position today to develop the application and prepare for global scaling with Early Game.”
Cristian Munteanu, the Managing Partner of Early Game Ventures (EGV), said:
“Lately, the number of startups that aim to build marketplace platforms has exploded. This is even though few founders understand how complicated such a business model is. What I saw valuable at FameUp, apart from the obvious market opportunity, is the impressive growth hacking strategy. In the coming months, we will help Ionut develop his team and product so that the mechanisms for growth and networking can be enhanced.”
What's next for FameUp?
Our goal remains the same: any Social Media user can receive free products/ services and even money for the time spent online, while having a great experience in using the FameUp app.
And in order to provide this great experience to you, our focus in the following period will be to build a strong and skillful FameUp team that is able to understand your needs and aspirations. Stay close and embark an awesome (and a bit crazy) journey with us!
Thank you for all the support! The best is yet to come!
More about FameUp and our plans in media:
https://www.startupcafe.ro/finantari/marketplace-fameup-daniel-dines-influencer-local-investitie.htm
https://start-up.ro/video-o-cafea-pentru-un-story-fameup-investitie-de-la-early-game-ventures/
Investiții de 2,5 milioane de euro aplicația mobilă FameUp. Printre investitori, fondatorul UiPath și EGV
Early Game Ventures, Daniel Dines, and other angel investors invest EUR 2.5 million in FameUp
Early Game Ventures, Daniel Dines, and other angel investors invest 2.5 million euros in FameUp