Contribee, the platform used by content creators and organizations to monetize their content, engage with fans and collect one-time tips, announced it attracted a €100K investment from CoInvest Capital and business angels. The first investment will help Contribee increase their brand awareness and expand to other markets.
“The pandemic has forced content creators to not only look for alternatives to engage with their audience but also find new ways to attract support which has led to an increasing number of creators monetizing their activity online by selling subscriptions. We invested in Contribee because they already have a developed platform and a growing creator and subscriber base. Also, the platform can be easily adapted to other markets. We hope that our investment will fuel Contribee’s growth and expansion to new markets,” said Viktorija Vaitkevičienė, the CEO of CoInvest Capital.
Contribee allows creators and organizations to create a free account and an individual monetization model. Unlike a well-known Patreon, Contribee doesn’t charge creators any fees. A small fee is added to a subscription price and is paid by fans.
“We interviewed a number of content creators before launching Contribee and decided to not charge creators any fees. All platform features are accessible to every creator and there is no limit to the revenue they can generate. Creators can transfer their subscription and tip revenue directly to their bank account. We plan to announce new platform features in the near future, including a merchant shop integration which will provide creators with an option to earn by selling their merchandise,” says Gediminas Ratkevičius, the CEO of Contribee.
Every creator chooses a unique monetization model on Contribee. Some broadcast concerts or trainings and sell one-time access to watch them whereas others prefer an audience engagement model when fans pay a monthly subscription fee and get access to the content regularly shared by creators,” says Mantas Michalauskas, a head of communication at Contribee.
Contribee was launched in September 2020 and is already used by 200 creators and more than 2,000 subscribers. Founders of Contribee believe that anyone who’s willing to create and share high-quality content can successfully monetize their activity. Various nonprofit organizations who rely on monthly subscription revenue and tips to fund their activity have also chosen Contribee.