TippTapp raises $1.2M in capital investment and adds GP Bullhound as investor in the company

TippTapp, a Stockholm, Sweden-based company managing a mobile-based consumer marketplace, announced securing SEK 10M ($1.2M) in capital investment to the company.

The money comes from venture capital firm GP Bullhound through its investment arm, GP Bullhound Asset Management, and will be used to expand TippTapp's operations outside Sweden.

TippTapp, founded in October 2015 by Anders Lövbrand, Tim Bjelkstam (CEO), David Höök and Fredric Rylander, developed a mobile application that acts as a marketplace for connecting with helpers - regular people with a car, some extra space and time on their hands - available for moving stuff. The app has been downladed by 10000 people and has a model of charging 10% from all the transactions within the app.

Prior to this deal, TippTapp raised about $3.5M in capital risk from a range of Nordic angel investors including Ashley Heppenstall, Erik Fischbeck, Filip Engelbert, Jonas Nordlander, Per Brilioth and Pierre Siri.