The popular local reviews site Qype has raised new funds amounting to a combined 6.5 million euros to help fuel their mobile business.
Qype is the largest user generated local review site in Europe, covering everything from gyms to venues, restaurants to landmarks. Early last year they launched the Qype Mobile app, which allows users to write reviews on the go and has now been downloaded almost a million times.
Now in a bid to expand their mobile business, Qype has managed to raise 3.5 million euros from Vodafone Ventures, in addition to another 3.0 million from their existing investors, Advent Venture Partners, Partech International and Wellington Partners.
This deal means that we will soon be seeing a co-branded version of the Qype application preloaded on Vodafone devices such as Blackberry and Android rolled out across Europe. So could this be a Yelp killer? Unfortunately for Yelp it’s very likely. The American competitor has been trying to make head way in Europe for the last few years, but with very little differentiating them from Qype, they have struggled to make headway.