London(16th December 2016): Picfair, the fast-growing images platform, has completed a late seed round, assisted by D5 Capital and led by hedge fund legend Peter Davies (Landsdowne Partners). Picfair raised GBP £ 1m to help the disruptive images site drive adoption and monetsation of its photographers’ images.
Created by CEO Benji Lanyado, Picfair aims to give a better deal to both users and photographers by simplifying the process of buying rights and delivering more of the value to the rights holder. Compared to major images libraries which can take as much as 80% of the transaction value in commission, Picfair takes only 20%. Picfair also enables photographers to embed the API on their own sites in order to sell their images. By creating algorithms that can quality check images automatically, Picfair can offer a monetisation platform for the Instagram Generation – talented semi-professionals that have traditionally be shut out of the established libraries, like Getty and Shutterstock.
Commenting on company progress, Benji Lanyado said: “It has been a very big week for Picfair. We have rolled out a new site, released the newest iteration of our ground-breaking image search algorithm, and we just passed 3 million images! This seed round will help us expand more rapidly and drive sales. Our ambition is to become the photographers’ best friend and the destination of choice for all companies in the world for good value, cutting edge images.”
For further information:
Rupert Ashe, CEO D5 Capital (firstname.lastname@example.org)