Jumio is still
gearing up for the launch of its online and mobile
payments solution,
due for release in 6 to 8 weeks, but the company has lined up an
investor that is sure to draw even more attention to the stealth startup
than the
recent appointment of Google, Amazon and NASA vets to its board of directors.
Eduardo Saverin, who will forever be remembered as the co-founder of
Facebook,
has taken the lead in the startup’s fresh round of financing. We’ve
exclusively learned that Saverin put up more than half of the round,
which totals
$6.5 million, alongside other private investors.
The 28-year-old Brazilian-American entrepreneur will also be joining Jumio’s board of directors.
Saverin, who currently spends
most of his time
in Singapore, will become actively involved in Jumio’s roll-out into
the Asian market. Says Saverin: “I’m usually a critical person, but the
last time I have seen such a disruptive idea was actually Facebook”.
Quite the endorsement indeed.
Saverin, who is a billionaire thanks to his stake in Facebook, also
led the recent investment in TC Disrupt winner
Qwiki.
His investment, and even more so his active operational involvement
in the young company, makes me anxious to learn what Jumio is building,
exactly.
Jumio was co-founded by
Daniel Mattes, who sold his latest company,
Jajah, to Telefonica
for $207 million. Mattes is called the
“Bill Gates of the Alps” in some parts.
Worth noting: Jumio chose an unorthodox way of financing. Instead of
raising a regular Series A round with an institutional VC, the company
has established a so-called
SPAC
(Special Purpose Acquisition Company), a collective investment scheme
that allows public stock market investors to invest in PE-type
transactions, particularly leveraged buyouts.
A participation in Jumio was placed privately to ‘Ultra High Net
Worth Individuals’ (also called Ultra HNWIs) in the form of a private
placement. The use of SPAC is rare amongst startups, but has become
popular lately as a result of Facebook’s
funding deal with
Goldman Sachs.
“The advantages are obvious,” says Daniel Mattes. “There is a lot of
interest from high net worth individuals to participate in start-up
success stories like Facebook, Twitter, Zynga or Groupon. We offered the
market such an opportunity and it was received extremely well to the
extent that we were over-subscribed.”
