MM events

WeQ mobile ad tech firm launches with $50m acquisition war chest

David Murphy
Wachenfeld: "Advertising needs scalable and globally replicable infrastructure and services"

WeQ, a mobile ad tech brand offering user acquisition and engagement services at a global scale, has officially launched. The company said its name represents a move to shift from an exclusive ‘I’ culture to a collaborative ‘We’ culture.

The company comes out of the gate armed with a strategic investment, having secured more than $50m in internal funds and debt capital to accelerate an ambitious global growth path. The company plans to use the funds to undertake an aggressive M&A strategy over the next two years, acquiring cutting-edge technologies from innovative ventures to expand its technological footprint and services and enter new markets.

The company’s senior management team is led by CEO Markus Malti, former director, digital strategy at Wanadoo. He is joined by Hendrik Volp, CBDO, former CRO at Adjust; Dr. Steffen Wachenfeld, CPO, formerly with HitFox Group; Bastian Quilitz, CTO, former VP of technology at Glispa; Kerstin Feix, CPeO, former global head of people management at Meta Design; Riccardo dal Pozzolo, CFO, former business analyst at Walt Disney; and John Schlüter, CMO, former CBO at Thomas Sabo. Tim Nilsson, former MD at Glispa, joins the company as a Member of the Advisory Board.

The company said it plans to challenge the dominance of the Facebook and Google duopoly with alternative, bespoke solutions and high-quality user acquisition. It expects to deliver several million app installs a month for clients.

The company’s has developed its own tech technology, designed by an in-house team led by CPO Dr. Steffen Wachenfeld. He said: “Advertising needs scalable and globally replicable infrastructure and services. This is why our proprietary technology is built by a team of machine learning experts, developers, and data scientists, in order to deliver the most targeted, optimized and scalable mobile advertising solutions. This allows our clients to focus on what they do best: building great apps and growing successful brands.”

The company is launching with over 100 employees, half of whom are data engineers, developers and product managers. It plans to work across 180 markets with “a major focus on the US and then APAC.”