Pollen launches velocity capital to aid user acquisition
Good news for mobile developers who are struggling to fund the success of their apps. Finance company, Pollen, is partnering with leading mobile advertising networks to seamlessly connect its patent-pending financial technology platform at the intersection of the apps and ads worlds. Basically, Pollen is pioneering a new class of capital – Velocity Capital. It’s just gone live with closed beta in the USA and UK – deploying in excess of $150 million. Velocity Capital enables app developers to be paid seven days after their sales within app stores. Even though the stores themselves delay payment for as long as 60 days.
Pollen paying 95 per cent of proceeds from app sales to developers every seven days. This enables them to accelerating their user acquisition campaigns or product development cycles.
The company says, “The importance of paid user acquisition campaigns to drive growth and increase the visibility of an app has never been higher.”
Missing out on a top slot in terms of app store downloads can dramatically hinder the growth potential of an app, as it loses momentum.
According to Martin Macmillan, CEO with Pollen, “We created Pollen to provide app developers with faster access to their app store revenues, which can then be used to accelerate their growth and install base.”
He continued, “So far, we’ve seen exceptional demand for our early beta, both from app developers, but also venture capital firms who recognise that Velocity Capital can help their portfolio companies to deploy capital more efficiently.”
Pollen’s leadership team encompasses significant expertise from the mobile industry and financial services sectors, as well as an advisory board that brings experience from Apple and NaturalMotion.
Read the full Press release here.