Aptoide secures ?8.5 million investment from Digital Turbine, strengthening strategic partnership

LISBON, Portugal, Nov. 9, 2023 /PRNewswire/ -- Aptoide, the leading alternative Android app store, is thrilled to announce the successful closure of an ?8.5 million investment round with Digital Turbine, the premier independent mobile growth platform. This investment solidifies the commitment of both Aptoide and Digital Turbine to providing app developers, distribution channels, telecommunications operators and users with an open, innovative alternative for app distribution and monetization.

The ?8.5 million investment serves two primary purposes. First, it supports Aptoide's vision to further develop and promote GamesHub and Catappult, two groundbreaking platforms in the mobile app ecosystem.

GamesHub, a joint effort between Digital Turbine and Aptoide, is a game app store that has already gained recognition as the platform of choice for major operators in the United States. It aims to expand its presence in the US market and targets availability on 80 to 100 million devices by the end of 2023. The platform's strategic partnerships with carriers like ATT, Verizon, USCellular, Tracfone, Cricket and BLU US position it for significant growth and success in 2024.

Catappult is Aptoide's leading alternative mobile gaming distribution and monetization platform. With hundreds of millions of users, it connects developers to more than 20 alternative app stores worldwide, streamlining distribution, promotion and monetization.

Secondly, the investment allows Atpoide to repurchase company stock from current shareholders, providing them with a significant return on their investment.

Paulo Trezentos, Aptoide's CEO, commented on the strategic partnership and investment, stating: "We are thrilled to strengthen our partnership with Digital Turbine and leverage their expertise to enhance app discovery and distribution. This investment underscores the incredible growth and potential of Aptoide, showcasing the tremendous potential of this partnership to transform the mobile app distribution landscape".

Bill Stone, CEO of Digital Turbine, expressed his enthusiasm, saying: "Our partnership with Aptoide has enabled us to create a highly curated environment for premium app discovery through GamesHub. The expanding partnership leverages technology from both companies to develop new and innovative distribution products for our mobile operator, OEM, and app developer clients. We are excited about the potential of this partnership and the strategic direction we are taking together".

In October 2022, Digital Turbine announced a strategic investment in Aptoide, marking the first step in the fruitful relationship between the two companies. Digital Turbine's initial investment led Aptoide's Series-B funding round of $12 million USD, which also included investments from Faurecia, Portugal Ventures and the 200M Fund, a Portuguese co-investment company.

The growing partnership between Aptoide and Digital Turbine highlights the increasing significance of the alternative games distribution market. Alternative games distribution platforms provide developers with a means to reach and monetize their games outside of the traditional, highly saturated gatekeeper app stores.

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SOURCE Aptoide