WeTransfer Acquisition, Valuation, Funding & Investors

WeTransfer was acquired by Bending Spoons for $760M in July 2024, a 5.3x multiple on $143M of revenue.

WeTransfer acquisition price

$760M

Acquired by Bending Spoons · Jul 2024

WeTransfer revenue at acquisition

$143M

Last twelve months · Jul 2024

WeTransfer revenue multiple at acquisition

5.3x

EV/Revenue · Jul 2024

Cumulative funding WeTransfer raised

$25M

across 1 funding round

WeTransfer Overview

About WeTransfer

WeTransfer is an Amsterdam-headquartered file transfer service powering workflows for creative professionals in 190 countries. Its tools enable secure sharing of large files up to 200 gigabytes, with Pro and Teams plans adding brand customization, speed controls, and integrations with Adobe Creative Cloud and Slack. Certified B Corporation since 2018, WeTransfer donates portions of ad space on its free tier to artists and nonprofits.


Founded

2009

HQ

NetherlandsAmsterdam

Status

Acquired

Customer focus

B2B & B2C

Revenue model

Subscription

Revenue

$143M (Jul 2024)

Valuation

$760M (acquired Jul 2024)

WeTransfer Acquisition

WeTransfer was acquired by Bending Spoons for $760M on 31 July 2024.

The acquisition price implies a 5.3x revenue multiple on $143M of revenue.

Before the acquisition WeTransfer had raised $25M across 1 funding round.

WeTransfer, a Dutch-founded digital file-sharing and collaboration platform certified as a B Corp, serves over 80 million monthly active users and 600,000 subscribers, primarily creative professionals, filmmakers, and artists, with 2023 sales of €132 million (25% growth), split evenly between advertising and subscriptions. The platform enables large file transfers, features WePresent for showcasing creators, and recently added tools for selling digital files in over 100 currencies. It last raised €35 million in a 2019 Series B from HPE Growth with Highland Europe participation, after a $25 million round in 2015, and abandoned public listing plans due to market volatility. Milan-based Bending Spoons SpA, an Italian mobile app developer valued at $2.55-$2.6 billion following a $155 million equity raise in early 2024 from Durable Capital Partners and others, acquired WeTransfer on July 31, 2024, for undisclosed terms, financed partly by Intesa Sanpaolo as global coordinator and arranger. Bending Spoons owns creativity-focused apps like Evernote, Meetup, Remini, Splice, StreamYard, and Issuu, reaching over 200 million monthly users and generating $600 million in annual revenue pre-acquisition. The deal, Bending Spoons' fifth in 2024, aligns with its strategy of acquiring and optimizing tech assets, supported by prior investments from Baillie Gifford, Cox Enterprises, and StarTIP. Strategic rationale emphasizes synergies in serving creative industries, with Bending Spoons committing to reserve 30% of WeTransfer's ad space for give-back campaigns and editorial content, continue WePresent, and donate $3 million over two years to The Supporting Act Foundation for underrepresented artists. Post-acquisition, Bending Spoons plans a leaner organization, cutting 75% of WeTransfer's staff to sharpen focus and ensure long-term thriving, as stated by CEO Luca Ferrari, while WeTransfer CEO Alexandar Vassilev highlighted accelerated growth and profitability.

WeTransfer acquisition details
AcquirerDateTypePriceEV/Revenue
31 Jul 2024Strategic M&A$760M5.3x

WeTransfer Funding History

WeTransfer has raised a total of $25M across 1 funding round, plus 1 secondary share sale.

WeTransfer funding rounds

WeTransfer funding rounds
DateStageInvestorsRaisedDeal Summary
Aug 2019SecondaryHPE Growth (lead); Highland Europe$39MWeTransfer is a file-sharing platform supporting creativity with tools to move ideas, serving 50 million monthly users across 195 countries and transferring over 1.5 billion files per month. In August 2019, HPE Growth led a €35 million secondary investment round with participation from Highland Europe, acquiring shares from six individual shareholders including founders and early employees. The deal positioned WeTransfer for growth into an integrated multi-product strategy and eventual IPO, with HPE's Jonne de Leeuw joining the supervisory board alongside Highland Europe's representatives and co-founder Bas Beerens. WeTransfer had been profitable for six years prior to the transaction and did not require new capital, using the secondary sale to leverage investor expertise for scaling product development following acquisitions of Paper and Paste. Previously, in 2015, Highland Europe invested $25 million in a Series A round. The published deal value ranged from €50 to €250 million.
Feb 2015Series AHighland Europe (lead)$25MWeTransfer, a leading file-transfer service founded in 2009 and based in Amsterdam, completed a $25 million Series A funding round on February 17, 2015, from Highland Capital Partners Europe, which took a minority stake. The bootstrapped company, profitable since 2013, had grown to over 70 million registered users and 25 million monthly active users sending 70 million files monthly, with revenues more than doubling in the prior year. The investment aimed to accelerate global expansion, particularly in the US and Europe, innovate the product portfolio, and build the brand, with Highland partners Tony Zappalà and Irena Goldenberg joining the board. WeTransfer positioned itself as a simple, intuitive alternative to services like Dropbox and Box, popular among creative professionals and consumers for sending large files. Highland Europe, known for investments in companies like Matchesfashion.com and Brandwatch, provided capital and expertise to support WeTransfer's global ambitions. Subsequent developments included a 2019 €35 million secondary round led by HPE Growth with Highland participation, after which the company remained profitable for six years and expanded with offices in Los Angeles and New York, acquiring tools like Paper and Paste.

Who has invested in WeTransfer?

2 investors have backed WeTransfer across its funding rounds, including Highland Europe and HPE Growth.

Lead investors include HPE Growth and Highland Europe.


WeTransfer Investors

Investors in WeTransfer by funding rounds participated
InvestorHQRoundsRoleFirst check

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Acquisitions by WeTransfer

WeTransfer has acquired 2 companies to date.

Last acquisition by WeTransfer was on August 21st 2018. WeTransfer acquired FiftyThree for undisclosed valuation.


Latest Acquisitions by WeTransfer

FiftyThree
Present Plus
Description
FiftyThree is a New York-headquartered software firm founded in 2011, developing collaborative tools for creative teams. Its platform includes presentation builders for interactive prototypes and productivity apps for idea capture and team sharing. Used by designers at agencies worldwide, the suite supports vector editing, screen recording integration, and real-time multiplayer editing on web and iPad.
Present Plus is a startup studio specializing in design, product development, and film production services. Amsterdam-based since its 2010 founding, the firm collaborates with emerging brands on visual identities, prototype builds, and promotional videos. Projects span consumer electronics, fashion accessories, and digital media campaigns across European markets.
HQ CountryUnited StatesNetherlands
HQ City
New York City, NY
Amsterdam
Deal Date21 Aug 201810 Mar 2016
Valuationundisclosedundisclosed
EV/Revenue
EV/EBITDA

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WeTransfer Competitors

WeTransfer competitors include listed companies like Cybozu and Weaver Network, and private ones like Typeform, Pitch, Aircall and InVision.

Public and private companies comparable to WeTransfer
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
CybozuJapanJapanPublicly listed$241M$84M$881M3.1x
TypeformSpainBarcelonaPrivate$70M-$935M13.4x
PitchGermanyGermanyPrivate--$600M-
AircallUnited StatesNew York City, NYPrivate$175M-$1B5.7x
Weaver NetworkChinaChinaPublicly listed$341M$43M$1.6B4.2x
InVisionUnited StatesNew York City, NYPrivate$100M-$1.9B19.0x

WeTransfer Public Comps

WeTransfer is no longer listed, but its public comps include Foxit Software, Vercom, Truecaller, Pexip, Tanla Platforms, Enghouse Systems, Consensus Cloud, Sprout Social, Cybozu and Ooma.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Foxit Software$159M$13M3.4x3.0x39.8x19.8x
Vercom$125M$34M5.9x5.2x21.8x18.2x
Truecaller$195M$61M3.2x3.4x10.2x11.8x
Pexip$118M$29M6.6x5.7x26.6x18.6x
Tanla Platforms$461M$76M1.2x1.2x7.6x7.1x
Enghouse Systems$357M$87M1.4x1.4x5.6x5.6x
Consensus Cloud$350M$166M3.2x3.1x6.8x5.9x
Sprout Social$458M($31M)1.3x1.2x(18.6x)8.1x

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Common questions about WeTransfer

When was WeTransfer founded?WeTransfer was founded in 2009.
Where is WeTransfer headquartered?WeTransfer is headquartered in Amsterdam, Netherlands.
Is WeTransfer publicly listed?No, WeTransfer was acquired by Bending Spoons in July 2024.
Who acquired WeTransfer?WeTransfer was acquired by Bending Spoons in July 2024.
How much was WeTransfer acquired for?WeTransfer was acquired for $760M in July 2024, a 5.3x revenue multiple.
How much funding has WeTransfer raised?WeTransfer has raised $25M across 1 funding round.
What was WeTransfer's last funding round?WeTransfer's last funding round was a $25M Series A in February 2015, led by Highland Europe.
Who are WeTransfer's investors?WeTransfer's investors include Highland Europe and HPE Growth.
Which companies are comparable to WeTransfer?Companies comparable to WeTransfer include Cybozu, Typeform, Pitch, Aircall, Weaver Network and InVision.
How many companies has WeTransfer acquired?WeTransfer has acquired 2 companies, including FiftyThree and Present Plus.

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