SponsorPay completes second A round with $5 million from Nokia Growth Partners

Ad-funded payments platform SponsorPay has announced it's raised an additional $5 million in Series A2 funding.

The investment comes from Nokia Growth Partners and existing investors.

It previously raised $5 million in June 2010 from Hasso Plattner Ventures and investor Team Europe Ventures.

SponsorPay's platform helps online publishers - including game companies such as Gameforge, Bigpoint and Frogster - monetise their users more effectively, with billing, fraud prevention and customer support, as well as handling advertising campaigns.

The platform also hosts application installs, surveys, trials, lead generation and videos.

The funding from Nokia Growth Partners will enable it to better target what the company describes as the 'booming mobile space'.

Sharper edge

"We are very pleased to invest in SponsorPay and support the expansion of its cutting edge monetisation platform," said Bo Ilsoe, partner at Nokia Growth Partners.

"It has established itself as a distinct leader in a rapidly growing market and serve a diverse customer base from all over the world. We believe there are great opportunities ahead when working together."

"Since inception, we've focused on delivering a high quality user experience and expanding the business internationally to achieve a premier position in the industry," commented Andreas Bodczek, CEO and co-founder at SponsorPay.

[source: SponsorPay]