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Jun
08
2017

Venture capital fund FlyCap invests EUR 250,000 in Tapcore code development tool

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Just like movies that may be pirated and made available for free on the Internet, many mobile app developers have fallen victim to piracy. This is especially true of games that, according to venture capital fund FlyCap representatives, can be stolen from an official app store and downloaded on various Internet websites. Tapcore was created to help solve the problem.

Usually the main problem for app developers is that pirates crack the app code and make the application available to users free of charge. As a result, application developers fail to attain profits they originally anticipated. Tapcore helps solve the problem by cooperating with the developers, who are offered to add a special code to the apps they have developed. If an application is stolen, various ads, from different advertisers, will be displayed for the users of the app. The adds are professionally-made and are not displayed too often to become a nuisance for the user. Furthermore, the adds are displayed inside and outside of the app. That way, Tapcore generates revenue from advertisers.
The company chose FlyCap to be its investor. Tapcore founder Stefans Keišs says: “The investment fund’s representatives were very quick and constructive during our negotiations up until we reached a deal. The entire process took about two months. It is no less important that FlyCap already had experience of working in the IT industry, which means that the fund’s team is aware of the ins and outs, and that makes our cooperation much easier. Now that we have closed a deal, we can see that the arrival of FlyCap has prompted more interest from other investors also.”

The investment will go into product upgrades and consolidating the team. Since receiving the investment, Tapcore’s monthly revenue has already increased threefold.
Jānis Skutelis, FlyCap Partner: “I quickly realized, right after the first meeting with the founder, that this was a very interesting project. It is meant to solve a pressing piracy problem. The founder, Stefans has accumulated experience in the gaming industry and knows it perfectly. The company is already generating revenue, and operates in several countries.”
KS FlyCap Investment Fund I AIFis a EUR 15 million worth venture capital fund. FlyCap has already invested in such companies as AirDog, HansaMatrix, MolPort, Mailigen, Sonarworks, RCG Lighthouse, Arsenal Industrial, Cannelle Bakery, Tepix, Latgales Granulas, NMS Laboratorija, Bio2you and others. A maximum individual investment is EUR 1.5 million. FlyCap invests in almost all industries, and in almost all stages in the development of a company.The fund helps companies develop by sharing its experience, knowhow, and contacts.