Magfi, an innovative SaaS platform specializing in simultaneous advertising across Telegram and Discord communities, has raised $1.1 million in its Seed funding round. The investment, led by Eleven Ventures, a prominent Bulgarian VC known for its support of unicorns like Payhawk, will accelerate Magfi’s growth and market expansion.
Svetozar Georgiev from Eleven Ventures will join the Magfi board, bringing his extensive experience to help drive the company’s next phase of development. Magfi’s platform leverages machine learning and AI to streamline ad placement, allowing advertisers to reach highly specific user groups with rich, interactive ads within chat contexts. This approach benefits both advertisers and community group owners by simplifying ad management and enhancing monetization opportunities.
Since its inception, Magfi has distributed over 1 million ads across various channels, reaching 600,000 unique users daily. The company has seen a remarkable 25-fold increase in revenue since its pre-seed round, attracting diverse clients, including major Turkish banks, global e-commerce companies, and leading advertising agencies.
The new funding will enable Magfi to expand its team, enhance automation across its operations, and target new markets, with Brazil—home to a large Telegram user base—as a key focus. The company is also exploring the use of generative AI to create tailored ad creatives, aiming to bring sophisticated advertising solutions to chat-based communities.
Mustafa Fikret Uğur, CEO and co-founder of Magfi, commented, “As the world shifts towards web3 messaging platforms like Telegram and Discord, we are unlocking unprecedented potential for brands and community owners. This investment will help us strengthen our position in Turkey and launch our operations in Latin America, while advancing our technology with generative AI.”
Svetozar Georgiev of Eleven Ventures remarked, “Magfi is pioneering a new frontier in decentralized chat-based advertising. Their innovative approach addresses a unique market opportunity, and we are excited to support their journey as they redefine ad placement within these dynamic communities.”
Editorial Opinion:
Magfi’s successful Seed funding round underscores the growing recognition of chat-based communities as a valuable advertising frontier. With its innovative platform, Magfi addresses a significant gap in the market by providing a sophisticated solution for targeting and engaging users within Telegram and Discord. This positions the company to lead in a niche yet expanding segment of digital advertising.
The company’s strategic expansion into Brazil and the use of generative AI for ad creation highlight its commitment to staying at the cutting edge of technology and market trends. As digital communication continues to evolve, Magfi’s approach promises to enhance how brands connect with audiences and how community owners monetize their platforms. This proactive strategy is likely to set new standards in the advertising industry, making Magfi a company to watch in the coming years.
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