Yamuntu start-up raises seven-figure investment sum
The founders of the Hamburg-based Yamuntu GmbH start-up, Woundioun Sissoko, Martin Westphal and Oliver Krause, secured a seven-figure investment sum in early July from investors Rolf Schrömgens (trivago), Philipp Frenkel (Misterspex) and Robert Kabs (moebel.de) among others The start-up now hopes to make everyone an influencer with their app, which allegedly democratizes the influencer market. This comes after a 2018 Bitkom survey found that one in three social media users would like to become successful influencers. And the trend is growing even against the backdrop of the pandemic.
Social commerce platform based on cashback
"We want to become the shopping standard for our generation as a social commerce platform," the founders said. A person's number of followers is unimportant. The Yamuntu app includes partner stores where users can buy products. As soon as the product, e.g., a pair of sneakers has arrived, the user posts an Instagram story via the app or on TikTok. A sticker in the story refers to the partner and the sponsorship from which the purchase was made. The user gets cashback via Paypal within 48 hours and can earn up to EUR 30 for as little as two minutes effort, the entrepreneurs said. That means anyone can be sponsored by a brand. The partners receive authentic content in return and use the organic reach of their customers.
First steps thanks to NCA
Sissoko has worked full-time on the Yamuntu app since March 2019. The 21-year-old received financial backing from the Next Commerce Accelerator (NCA) and later took part in the fourth batch of the Hamburg-based funding scheme. A year later, he was joined by co-founders Westphal and Krause, who are both digital natives and technology experts. The 15-strong Yamuntu team consists of people with seven different nationalities including a 17-year-old developer from Norway and a senior designer from Italy.