Twago raises "six-digit Euro" sum for its outsourcing platform

Twago, which provides a “global online intermediation platform” for services in the areas of IT, design, and business support, has received backing from a Frankfurt, Germany-based investment group from the private banking sector. The exact amount isn’t being disclosed but is described as in the “six-digit” Euros, while the actual investors are also remaining coy.

However, that isn’t stopping Twago talking up its valuation – said to have risen to a multi-million Euro figure in just one year – or its average monthly growth rate of 40 percent.

Twago, based in Berlin, offers a platform for mediated services that range from programming, graphic and web design, and translations to research enquiries. It helps those looking for outsourcing by providing a marketplace along with features to manage the project, including tools for accountability and mediation if things go wrong, as well as handling transactions.

Additionally, the company is betting on a multilingual approach, offering versions of its platform in English, German and, most recently, Italian. Twago also says that it’s in the process of further market entries in Europe, which should come to fruition shortly.