Instabridge picks up $1 million in new funding from VC Creandum and others

instabridge-coverSwedish WiFi connection manager Instabridge, which we first covered a few weeks ago, has announced that they have obtained $1 million in seed funding from a group of investors led by Swedish VC Creandum, per a press release from the company. Other investors participating in the round include investment bank GP Bullhound, Niall Murphy, who was formerly CTO at The Cloud, Scott Banister, who was an early board member at PayPal, and Felix Hagno, co-founder of TradeDoubler.

With this latest funding, the company intends to accelerate development of their Android app and to launch an iOS version in the near future.

Instabridge, which allows users to share any WiFi spot that they find from other users of the service, reports that more than 1,000 networks are added and 20,000 connections made to Instabridge WiFi spots. All told, the company says more than 2.5 million connections have been made since the platform launched last year.

As a reminder, Instabridge allows users to connect to WiFi through the community of users (or just your friends, if you prefer) and allow through local businesses, as their mobile app comes pre-loaded with nearby venues offering a free internet connection.

Instabridge has developed a userbase in popular markets such as the United States, Canada, Spain, and the Netherlands, but notes that the service has really taken off in countries such as India, Mexico, Argentina, and Brazil.

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