Amsterdam-based Wapmagic in late October received a A12 million second round of funding led by ABN AMRO Corporate Investments and Advent International. Gilde IT Fund, WAP’s initial backer, also participated in the latest funding, which took the total capital raised by Wapmagic to date to A15 million.
Wapmagic, formed in late 1999, provides mobile solutions to large businesses. Its services include strategic consulting, applications development, hosting and deployment across multiple mobile carriers and access devices. Its modular scalable applications platform allows users to interface through one secure hosting environment with connectivity to multiple carrier networks. As well as hosting mobile applications on its infrastructure, Wapmagic undertakes critical applications such as integrated billing and localisation. The company’s client list included VNU, the Financial Times, KPN Telecom and Versatel.
Daniel van Meer of ABN AMRO Corporate Investments says Wapmagic is leading the way in the secure deployment of mobile applications and services across Europe: “Wapmagic’s strong revenue growth and sound business model combined with a first class and growing customer base, makes us believe that the company will become one of the leaders in the development and deployment of mobile solutions in Europe in the coming years”.