The digital addressing startup secured backing from Angel Investment Network to fund international expansion and double its headcount.
"A physical address should be a human right. Whether it’s opening up a bank account or getting an ambulance to your door, every person on this planet deserves access to these services. This raise is a vital stepping stone to unlock our growth into Nigeria as well as explore new markets across Africa, Middle East and Asia. The Angel Investment Network was instrumental in our fundraising success and has really helped us on our Mission to enable half the world without a physical address to “be included.”"
The funding round was supported by mobility sector leaders including Cabify founders Juan de Antonio and Vicente Pascual.
"I worked with the team at HumanForest for ten years at Cabify and I believe that this is another disruptor. It is three disruptors in one; it provides free mobility for users through its partnership model, protects the planet and appeals to partner companies who seek to demonstrate their social impact. We are already seeing the success of the model and I am excited to be involved in its future growth."
The company has also joined the 2020 Techstars accelerator programme.
"We are so pleased to be a part of such a well respected and prestigious accelerator. Techstars 2020 marks the next stage in our development as we continue to see huge growth in our business and increased opportunity in the industry. We are looking forward to being able to continue to empower experience providers, delivering beautifully simple management solutions so they can focus on creating outstanding experiences."
The London based lift sharing start up secured funding from angel backers to drive expansion.
"The idea and our concept resonated so well we were fortunate to be oversubscribed at our last fundraise, which was completed prior to lockdown. We, along with our investors, truly believe that the opportunity and timing is right to really make a difference to mobility across the Globe"
The £10m Series B follow-on round was led by DIP Capital with backing from the UK government's Future Fund to drive global expansion and new product development.
"We are excited to lead this round as we recognise Wejo's huge potential and believe in the value it provides not just to car companies but also to end-user customers of its big data insights and analytics. We are confident Wejo is in the right position to take advantage of this clear opportunity to become a leader in the market, shake up the automotive industry, and enable the full digitalisation of mobility."
