- The company is led by Álvaro Pintado, a young entrepreneur just 19 years old
- Its post-money valuation stands at 16 million euros
Madrid, July 2, 2024.- Spanish startup hello.app, the first company to pay its users in exchange for storage space on their devices, has closed a 500,000-euro funding round backed by public and private investors, putting its post-money valuation at 16 million euros.
The funds raised will go toward the development and launch of the app on iOS and Android, along with the activation of the “contribution node” feature, to consolidate its position as the world’s first app that pays its users in exchange for unused storage space on their mobile devices. The round included participation from several investors and private capital based across Europe, as well as some of the current shareholders. Among them are private investors such as Gerald Heydenreich, founder of Ethermail, David Holtmann and Albert Bonet, among others.
The deal adds to the 170,000-euro investment round it closed with investors such as Iese, Esade, Castiventures and Bcombinator, and to the 130,000-euro loan from the National Innovation Company (Enisa).
They expect to reach 3 million users in 2025
The company founded by Álvaro Pintado Santaularia (19), which began operations in 2022, already has nearly 200,000 users from more than 200 countries and has set the goal of reaching 3 million users in 2025.
A differentiated value proposition
In addition to being the only app that offers its users (individuals and businesses) financial compensation in exchange for storage space on their devices, its value proposition is based on addressing the limitations of traditional Web2 storage solutions and positioning itself as a Web3 alternative to popular centralized cloud giants such as Dropbox or Google.
It allows its users to earn an extra source of income by “renting” it the storage space on their devices. “We have taken the model of successful companies like Airbnb or Uber and brought it to data storage,” says Álvaro Pintado, CEO of hello.app.
In Pintado’s words: “very soon, computers such as our phones, iPads or laptops will be able to replace large centralized server farms with distributed storage, which means, on the one hand, that those who own those farms will become increasingly dispensable, and, on the other, that whoever manages to build that first decentralized and collaborative computing and storage network based on the devices we already have will be unstoppable.”
About hello.app
hello.app is a Spanish company that has created the world’s first app that pays its users money in exchange for sharing storage space on their personal mobile devices (phones, tablets or laptops). They describe themselves as the “Airbnb of data storage.” It is the world’s first decentralized, open-source Web3 data storage software (controlled by the users themselves) and was created to revolutionize and democratize the way data is stored worldwide.
It is the first existing alternative to large centralized server farms; a more sustainable, more transparent alternative with which users can have absolute control over their data/information and, in addition, earn financial compensation for sharing space on their mobile devices (it is the first app in the world to allow this).
Founded by young entrepreneurs Álvaro Pintado Santaularia (19) and Alexander Baikalov (20), its unique value proposition is based on addressing the limitations of traditional Web2 storage solutions and positioning itself as the decentralized Web3 alternative to popular centralized cloud giants such as Dropbox or Google.
