Snipfeed to raise €3.7 million

Snipfeed, a Paris, France-based software developer announced the completion of a €3.7 million ($4.5M) capital funding round.

The money was raised from investors including CRV, Abstract Ventures, Crossbeam, ID8 Investment, Diaspora ventures, UpNorth Management and ISAI, as well as business angels such as Eric Schiermeyer (co-founder of Zynga and MySpace), Michael Bosstick (co-founder of Dear Media) and CAA founder Michael Ovitz.

Later edit: In July 2021, Snipfeed announced that the total round topped $5.5 million.

Snipfeed, founded in 2018 by Gen Z founders Rédouane Ramdani (CEO), Anas Bouassami and Pierre-Habté Nouvellon, were initially building a content discovery app, which then later switched it a plug and play software tool that allows social media influencers to turn their social media into a business through a simple link-in-bio tool.

The tool can be used to provide personalized snippets for users engaging them in learning by breaking up original content into short chat messages, in order to help both micro and macro creators monetize as simply as possible. While e-commerce platforms are great for large creators who want to exclusively sell merch, this can sometimes not be a sustainable solution for smaller creators. Rather than having to link out to third party platforms, Snipfeed enables creators to sell their services (exclusive content, tipping, live streams, personalized videos etc.) and goods directly within their bio link. In two clicks fans can make purchases from their favourite creators through credit card, Paypal, Venmo or Apple pay.

Snipfeed says it has more 10,000 content creators using the platform with some of them making over 2.5K a day. The company is also growing internationally, as 20% of its creators are based in Europe and 60% of the French tiktokers who have more than 300k followers are already using the platform.