Cartagena Capital advises qeep on a multi-million Euro fundraising round

XAnge, KfW and BDMI, the Venture Capital Fund of Bertelsmann, invest a medium one digit million Euro sum in BLUE LION mobile GmbH, the company behind qeep, one of the world’s largest mobile social networks with a focus on multiplayer gaming.

Munich, 16 December 2010 - BLUE LION mobile GmbH, developer of the mobile social entertainment network qeep, announced today that it has closed a multi-million Euro B round. The round was led by French VC XAnge and co-invested by KfW along existing shareholder Bertelsmann Digital Media Investments (BDMI), the investor of Series A in 2007. Cartagena Capital acted as exclusive financial advisor to the company.

The investment was made in view of the significant growth of qeep, the mobile gaming and entertainment network. qeep is compatible with over a thousand Java-enabled devices and has already reached a wide mass market; in fact more than six million users have registered on qeep so far. Every month the company counts over 500 million mobile page impressions and more than 1.5 million multiplayer game participations.

Investors were attracted to qeep because of its focus to reach the mass market and its unique platform for mobile multiplayer gaming. qeep gains almost 10,000 new users per day and is able to monetize them in a variety of ways. The funds raised will be mainly invested in further product development and international expansion of qeep.

Christian Schulte, co-founder of qeep and managing director of BLUE LION mobile GmbH, about the choice of the advisor: "We are extremely happy with Cartagena Capital. They possess not only very deep domain expertise but also always deliver top quality. Cartagena has the reach to all relevant investors in Europe and beyond."

Cornelius Rost, co-founder of qeep and also managing director of BLUE LION mobile GmbH: "We very much recommend Cartagena Capital to other entrepreneurs who are looking for a corporate finance advisor who is prepared to go the extra mile for its client."

About Cartagena Capital

Founded in 2001, Cartagena Capital is an international technology-focused corporate finance advisory firm. The company was created by senior industry experts and experienced investment bankers to provide top level services for cross-border mergers and acquisitions, fundraising and strategic advisory. Cartagena distinguishes itself through partner-level attention, a commitment to excellence, global reach and a very deep domain expertise in the sectors covered.

Cartagena Capital mainly works for leading emerging companies and their investors and has an extensive track-record of successfully completed mandates. Cartagena Capital is headquartered in Munich, Germany and is present in Paris, Helsinki and in Silicon Valley.

Contact: Jan Vocke, Partner | +49 89 242 111 33 | jan [at] cartagena-capital.com

About qeep

qeep is one the largest mobile gaming and entertainment platforms worldwide. Members of the mobile community can play live multiplayer games, blog photos and send sound attacks, text messages or virtual gifts. qeep can be downloaded for free at qeep.mobi. Started by BLUE LION mobile GmbH in late 2006, qeep connects millions of users from over 200 countries. The headquarters is located in Cologne, Germany.