Blyk secures 17 million Euro financing round

Blyk, the mobile messaging media startup that works with mobile operators to link 16-24 year olds with brands, has closed a large 17 Million Euro financing round lead by Nexit Ventures and a consortium of others investors. The investment will be used to accelerate Blyk’s strategic partnering with mobile operators and expand. It already partners with Orange and Vodafone.

In 2009 Blyk famously dumped its direct UK service in favour of partering. The 17 Million Euro equity investment is one of the largest single investment rounds lead by a Nordic investor in the tech space for the last five years. Other participants in the round include existing investors.

”Blyk has proven its engagement model and added value to advertisers in a relatively short period of time. With the new operator partnering model and the fresh investment, Blyk will further strengthen its position as the front-runner in the fast-growing mobile advertising field,” said Artturi Tarjanne, General Partner of Nexit Ventures.

Tore Teir, the CFO of Blyk, said: “Blyk consistently generates average response rates of 25 % in each of the markets we operate in making it a very attractive media platform for advertisers.”

Blyk creates mobile messages (SMS and MMS) that include information, entertainment, and exclusive offers. Members opt in and tend to have have high participation rates when responding to messages.