Yubo, the social platform where Generation Z creates communities of friends around the world, has today announced a $12.3 million fundraising round led by Iris Capital and Idinvest Partners, alongside historical investor Alven, Sweet Capital, and Village Global.
With an already predominantly English-speaking user base (mainly in the United States, the United Kingdom, and Australia), this new round of funding will support Yubo’s international expansion into new regions and accelerate the further technological development of the social platform.
Built by Sacha Lazimi, Jérémie Aouate, and Arthur Patora, Yubo currently has over 25 million users, with tens of thousands of new members joining the community every day.
Since its launch in 2015, Yubo’s users have formed more than 2 billion friendships on the platform, sent over 10 billion written messages and launched over 30 million live video streams.
Sacha Lazimi, Yubo CEO & Co-Founder said: “Yubo is a response to a fundamental need of Generation Z: socialising and creating friendships in the digital world in the exact same way as in real life.
“This funding round will let us reach new technological milestones and further our international footprint. We are especially proud that such recognized funds have granted us their confidence and backing to support our ambitions: becoming the world-leading social platform, born in France and based on European standards.”
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Christian Dorffer, Co-Founder & General Partner at Sweet Capital added: “We’re excited about Yubo’s potential to become the leading platform for teens and young adults to express themselves, socialise and learn from their peers.
“We believe mobile will play an increasingly important role in the lives of this segment and Yubo’s model, including safety features, makes it one the most exciting mobile companies at the moment.”
Yubo will also reinforce its infrastructure to ensure the social network remains a secure space of expression for every user. To support its growth, Yubo will hire 35 new staff members in the next 6 months, growing its total headcount to 50 people.