Advanced Television

Belgium’s WeePee closes €1m in seed financing

October 5, 2012

Belgium’s WeePee New Media Ventures has closed its seed financing round at €957,000. WeePee NMV has developed a platform for OTT TV. The platform is being offered as a service for international customers, enabling them to become a TV distributor.

The founders of WeePee NMV are the Belgian telecom player WeePee (Joeri van Dooren, Andrew Turner and Johan Meire, providing VOIP and hosting services since 2007), Johan Camp (former investment manager at LRM) and Marc Van Steyvoort (former global content strategy director at Alcatel-Lucent).

Joeri van Dooren, said: “We have been developing the platform for over two years. It was entirely developed in-house with available resources and we are enlarging the team with competent and experienced colleagues to add a wide range of skills. We are convinced that now is the time and the place to launch our platform. ”

Johan Camp, Finance Director: “We secured almost a million Euro at a pre-money valuation of €3 million. Often people claim you need to go to the UK or US to secure this type of seed round. We have proven that that isn’t necessary: most of the investors are Belgian citizens, many of them current or former entrepreneurs in the telecom or IT industry. The funds raised will mainly be used to support our international ambition.”

Amongst the new shareholders is Pierre Verbruggen, former CEO of KPN Unisource in Belgium.

Categories: Articles, Business, Funding, OTT, OTT