General Atlantic invests $61 mln in mobile consumer app Flipp
Canadian mobile consumer marketplace Flipp Corp has secured $61 million in a strategic investment from U.S. growth equity firm General Atlantic. Forbes reported the financing values the company at about $400 million. Based in Toronto, Flipp, formerly known as Wishabi, has developed an app that allows consumers to access digital circulars from retailers. It said the funds raised will be used to grow the company's footprint, extend partnerships, and further develop its platform. With the deal, General Atlantic Venture President Zachary Kaplan will join the company's board. Founded in 2007, Flipp is also backed by Insight Venture Partners, which invested $15 million in September 2013.
14 April 2016•4 mins read
