Upstream is a mobile marketing technology company led by CEO Dimitris Maniatis that provides digital marketing solutions across telecom, insurance, education, FMCG and retail sectors. Its products and services reach approximately 1.2 billion consumers and aim to optimize user experience, increase engagement, attract customers, and boost revenues. The company operates in more than 45 countries across Latin America, Africa, the Middle East and South-East Asia. Upstream has offices in the UK, Greece, Brazil, Nigeria, South Africa, and the UAE and works with major names in telco and other industries. The company plans to further expand and develop its mobile marketing efforts. Recently it obtained a €14M debt financing to support these expansion plans and to partly repay a 2017 EIB loan. Upstream operates a software and infrastructure mobile commerce platform that enables consumers to receive and pay for digital subscription services on their mobile devices. The company serves over 60 mobile operators, reaches 1.2 billion consumers in high-growth markets and counts 80 million paying subscribers. In 2016 its users made purchases worth $237 million. Upstream offers products including infotainment, microinsurance, mobile security and antivirus, cloud storage, gaming, video portals, app stores and language-learning courses. It employs over 330 professionals across 10 regional hubs and emphasizes R&D and big-data capabilities. Management says the company has a 15-year track record and plans to use new capital to further invest in R&D, improve its platform and expand its international presence. Upstream is the industry leader in emerging markets mobile monetisation, working with mobile operators, ecommerce brands and app developers across 40 markets to sell products to mobile consumers via demand-fulfillment marketing campaigns. The company provides personalised propositions, deep customer insights and has direct marketing and billing access to more than 1 billion emerging market consumers through mobile handsets. Upstream’s clients include Vodafone Group, Telecom Italia Mobile (TIM), MTN, T-Mobile and Etisalat. The company has already generated an estimated $1 billion of incremental revenue for its clients and grew its revenues by 61% in 2013. Following the investment, Upstream plans to leverage its investor’s relationships and expertise to expand its customer base and solution suite and drive continued expansion. Marco Veremis, who founded Upstream in 2001, will continue to lead the company after the investment.

Total raised

$41M

Funding rounds

3

Latest round

Debt Financing

Latest activity

Dec 2022