SponsorPay secures further €3.8m for its virtual currency ad solution

SponsorPay, Europe’s leading provider of advertisement-based payment systems, has secured a further €3.8m of funding.

The new round comes from Hasso Plattner Ventures, Moscow’s Kite Ventures, and Team Europe Ventures who are the original backers of the Berlin-based startup.

The injection of capital solidifies SponsorPay’s dominant position in Eurpope, having recently acquired its equally young rival, Hamburg-based GratisPay, in early February. The combined properties’ customers cover the majority of the major online and social game publishers across Europe, including Gameforge, Bigpoint, InnoGames and Frogster.

SponsorPay enables online gamers to earn virtual currency by taking part in offers from its various advertising partners, such as signing up for a product trial etc. It currently has 40 employees speaking languages covering 100 countries.

(via deutsche-startups)