Experience sharing social media platform @QoorioApp has attracted 2 million EUR investment for product development and international expansion. Second-round lead investor is Mangrove Capital - one of the first investors in Skype and Wix.com - showing the growing importance of sharing economy.
With the rise of access to information comes the growing frustration in finding the right information that could enhance our understanding of a particular subject. The founders of Qoorio believe that real knowledge is more than just facts you can access at a course, a masterclass, or a Google search - with their new app, Justas Janauskas (co-founder of Vinted, the largest pre-loved fashion marketplace in Europe) and Gabija Grušaitė (acclaimed writer and curator), believe that finding the right person, who can share information based on their experience is a far more efficient and exciting access to knowledge.
With a successful launch in June, Qoorio already boasts over 20,000 users who want to share their experiences with others, while monetizing their knowledge or donating the earnings from their experience sharing to support their favourite charity.
Qoorio platform users can navigate the recently updated app through a variety of interest areas and connect with the person who has relevant experience in a particular subject. They can meet for a coffee, chat online if they are not in the same vicinity, arrange a phone call, or otherwise connect to learn and share.
“We are all stuck in our social bubbles and associate with people who are similar to us. It is hard for an artist to get business advice from friends or for a lawyer to find a knowledgeable person to navigate her through the tricky world of art collecting. And that is what Qoorio offers – access to real-life knowledge,” comments co-founder Gabija Grušaitė.
Qoorio - a community for “qoorious” humans that facilitates access to real-life know how
Anyone can register on Qoorio platform and create a profile with their real life experiences they would like to share. Users then need to evaluate how much they would like to earn for sharing their knowledge with others, or choose an option to donate a portion of the earnings to a charity of their choice. For example, a professional voice coach Lara, who also happens to be an expert in concert photography can register both of her competencies and offer advice to fellow Qoorio platform members. Lara can earn additional income by adding a price on her lessons or advice over coffee, or alternatively, she can donate up to 100% of her earnings to her favourite charity.
Second round of investment in the first year
2 million euro investment is the second one this year for Qoorio aimed to finance the international expansion efforts.This time, the major investor is the Luxembourg-based Mangrove Capital. Previous investors have also contributed to the new round of funding: Change Ventures, 70Ventures, Mantas Mikuckas (Operations Manager at Vinted), Vytautas Kubilius (Google's Baltic Manager) and more.
Mangrove Capital is a European early stage venture capital fund that manages 1 billion euro investment portfolio. The company was one of the first investors in Skype, Wix.com and Walkme.
Change Ventures is a venture capital fund operating in the Baltic countries, with investment portfolios including Nordigen, Interactio, MeetFrank, Giraffe360 and others. 70Ventures Accel is a Lithuanian state-owned fund investing in Whatagraph, Robolabs and others.
Investors believe that Qoorio has the potential to change people's approach to personal development. “The platform’s team has proven in a short space of time that people are willing and able to pay for unique knowledge and experience while other people are willing to share it. Qoorio is creating a brand new product category and we are very happy to help this great team grow and expand internationally,” says Yannick Oswald, principal at Mangrove Capital.
People around the world are embracing the sharing economy. From sharing cars to sharing homes on apps like AirBnB or ZipCar, the concept of collaborative economy and peer to peer sharing is not only a rising trend but a model of sustainable and efficient access to goods and services humans need. It is only natural that collective knowledge and experience would be shared with apps such as Qoorio.