Newsflare, a UK-based online video marketplace that pairs viral and breaking video content with news outlets, is looking to expand after receiving a £2.4m shot in the arm.
The free-to-use site (pictured) was set up three years ago and boasts clients in 40 countries including the BBC, Mail Online and Sky News. It gives half of all sales commission back to its contributors.
The multi-million pound investment into Newflare has been made by investment house Edge Investment as part of its £40m Edge Creative Enterprise Fund.
Jon Cornwell, co-founder and chief executive of Newsflare, said: “Edge shares our vision for the huge potential of our business model in the burgeoning user-generated video market.
“This investment will allow us to execute our plans for growth and to achieve our ambition for Newsflare.
“In the current era, we are living through the democratisation of video – nowadays anyone can capture startling footage that can be shared in an instant.”