- Qonversion, headquartered in London, has announced the completion of a €1.7 million funding round. Along with Blinkist founder Holger Seim and S16VC, Visionaries Club and Flashpoint VC co-lead the round.
- The digital firm founded in 2019 is on a mission to accelerate the growth of mobile apps and accelerate European and APAC expansion through its subscription data platform for mobile apps.
- The founders of Qonversion bootstrapped numerous mobile applications before founding the firm and hence have direct knowledge of the challenges of mobile monetization infrastructure.
- Using Qonversion’s solution reduces the need for technical staff to develop and support in-app subscriptions while also providing the essential back-end infrastructure to collect and manage accurate subscription data.
- While the subscription model is gaining acceptance on mobile, there are significant problems with subscription management and data exploitation.
Qonversion, headquartered in London, recently closed a €1.7 million investment round. Visionaries Club and Flashpoint VC co-lead the round alongside Blinkist founder Holger Seim and S16VC. With its subscription data platform for mobile apps, the digital business formed in 2019 is on a mission to accelerate the growth of mobile apps and accelerate European and APAC expansion.
According to Qonversion data, the top 250 non-gaming apps now generate 95% revenue from subscriptions. Gaming apps follow suit, with 15 of the top-grossing mobile games adopting in-app subscriptions by 2020. By 2023, it is anticipated that up to 75% of mobile app revenue will come from subscriptions as sectors transition to subscription-based models.
Subscriptions are undoubtedly a lucrative sector for app-based businesses to tackle, and Qonversion is joining the market to simplify this process. Qonversion’s founders bootstrapped many mobile applications before starting the company and thus have firsthand knowledge of the complexities of mobile monetization infrastructure.
With this experience, the fledgling company can offer a comprehensive toolkit for developing, analyzing, monetizing, and scaling a mobile subscription business. Utilizing Qonversion’s solution eliminates the need for technical resources to create and support in-app subscriptions while also providing the back-end infrastructure necessary to gather and manage correct subscription data. The platform offers subscription analytics and data management capabilities such as A/B testing and interfaces with other media to increase subscription revenue.
With roots firmly planted in London, the team intends to use the new capital to bolster the technical crew and form a commercial unit to speed growth across Europe, the United States, and Asia-Pacific. Qonversion now has about 1000 live apps, an incredible increase from 160 apps at this time last year.
According to Michael Stysin, co-founder and CEO of Qonversion, effective mobile app monetization frequently separates the winners from the losers in the competitive app sector. They supply the monetization toolset, allowing their clients to concentrate on developing the apps rather than the monetization infrastructure. While the subscription model is rapidly gaining traction on mobile, numerous complications are associated with managing subscriptions and exploiting subscription data.
With continual changes to app store restrictions and Apple’s expectation that third-party acquiring be allowed for in-app monetization, he anticipates that the complexity of the required infrastructure will only expand. They are developing a one-stop-shop that will address all of the issues associated with subscription monetization.
What does Qonversion do?
Qonversion is a subscription-based data platform designed for mobile-first businesses. All-in-one subscription infrastructure, revenue analytics, engagement automation, and integrations to accelerate the growth of your app. Qonversion enables the rapid development of in-app subscriptions. It provides the back-end infrastructure necessary to validate user receipts and manage cross-platform user access to your app’s paid content, eliminating the need for you to construct your server.
Additionally, Qonversion offers complete subscription analytics and pre-built connections with the industry’s most extensive marketing, attribution, and product analytics systems.