Israel-based gift voucher marketplace Zeek raised $9.5m yesterday in a series B round featuring wireless technology producer Qualcomm, which invested through its Qualcomm Ventures unit.
The round was led by Scale-Up Venture Capital with participation from Blumberg Capital, FJ Labs, Emery Capital, Ton Ventures, Radiant Venture Capital, iAngels, Target Global and angel investor Uri Levine. TechCrunch originally reported news of the round before Zeek confirmed it in a blog post.
Founded in 2014, Zeek runs an online platform that can be used to buy and sell store credit, including gift vouchers, credit notes and e-vouchers, with the company taking a cut of each transaction.
Zeek will use the latest funding to grow its business in the UK and enter new international markets. It comes after a $3m series A round funded by Qualcomm Ventures, Blumberg Capital and Uri Levine in May 2015.
Daniel Zelkind, co-Founder and CEO of Zeek, said: “In the last 12 months we have saved over $12 million for consumers using Zeek, and seen almost 30% in growth from month to month, with incredibly positive reactions from the market.
“This funding round will substantially accelerate our rate of growth and will allow us to build our team.”