Pollen, a new FinTech company based in London and San Francisco, announced it will deploy in excess of $150M of ‘Velocity Capital’ to mobile app developers during 2014, with the launch today of its closed beta in the US and UK. A range of independent and venture backed start-ups have already had early access to the initiative…
Pollen, a new FinTech company based in London and San Francisco, announced it will deploy in excess of $150M of ‘Velocity Capital’ to mobile app developers during 2014, with the launch today of its closed beta in the US and UK. A range of independent and venture backed start-ups have already had early access to the initiative.
Pollen is pioneering a new class of capital – Velocity Capital – to help developers accelerate the growth of their business by expediting access to their app store receipts giving them faster access to revenue. Currently, app developers can wait more than 60 days to be paid for their app sales or in-app purchases from the leading app stores. Pollen unlocks this revenue early, paying 95% of proceeds to developers every seven days. This enables companies to quickly reinvest earned revenues back into their business, accelerating their user acquisition campaigns or product development cycles.
The importance of paid user acquisition campaigns to drive growth and increase the visibility of an app has never been higher. Missing out on a top slot in terms of app store downloads can dramatically hinder the growth potential of an app, as it loses momentum. By providing growth companies with Velocity Capital, as well as providing expert counsel and support in developing paid user acquisition strategies, Pollen can help companies boost visibility, and even reinvigorate existing apps.
“We created Pollen to provide app developers with faster access to their app store revenues, which can then be used to accelerate their growth and install base,” said Martin Macmillan, CEO and Co-Founder, Pollen. “So far, we’ve seen exceptional demand for our early beta, both from app developers, but also venture capital firms who recognize that Velocity Capital can help their portfolio companies to deploy capital more efficiently.”
Pollen is partnering with leading mobile advertising networks to seamlessly connect its patent-pending financial technology platform at the intersection of the apps and ads worlds. The technology platform underpinning the velocity capital model enables big data analysis of verifiable sales data to facilitate secure financial decisions.
Pollen is supported by a range of leading investors including ClalTech (wholly owned by Access Industries Group), Archimedia, and several active angel investors, including Shukri Shammas and Alvaro Alvarez del Rio (Initial Capital).
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