Lapse, a buzzy social media app that wants to rival Instagram, is set to raise fresh funding, Business Insider understands.
Based on the number of shares allocated, the company has raised approximately £24.48 million, $31 million.
One London-based source familiar with the deal said Lapse was set to secure around $30 million.
A look at the Lapse app.
It aims to help satisfy the demand for more authenticity on social media.
Persons:
Instagram, Jacob Andreou, Ben, Dan Silvertown, Plural's Ian Hogarth, Dmitry Tokarev
Organizations:
Business, Meta, Greylock Ventures, Facebook, Companies, Octopus Ventures, Redbus Ventures
Locations:
London