busuu.com, with 25 million users in 200 countries, will relocate its headquarters from Madrid to London
Online retailer Lastminute.com co-founder Brent Hoberman has invested in online language learning specialist busuu.com as part of a €3.5m fund-raising.
PROfounders Capital and a group of private investors are leading a Series A funding round into busuu.com.
busuu.com, which has 25 million users in 200 countries, will use the investment to improve its existing products, develop new ones and expand its global reach.
Hoberman and his partner Rogan Angelini-Hurll run PROfounders and other investments for the entity include made-to-order furniture site Made.com and luxury home rental business OneFineStay.
Existing shareholders in the business include British Wi-Fi sharing company Fon founder Martin Varsavsky and serial entrepreneur Johann Hansmann.
The latest investment will allow busuu.com to move its headquarters from Madrid to London in order to increase the size of its operations.
Over the next few months, busuu.com is planning to increase its current 12 employees to 30.
busuu.com’s social network provides 12 audio-visual language courses which are available online and through mobile apps on Android and iPhone.