Welovenocode raises USD 3 mln and supports Ukrainian citizens

Friday 8 April 2022 12:36 CET | News

Welovenocode, a no-code marketplace that connects over 5,000 companies and 36,000 no-code developers has raised USD 3 million in a funding round led by Mantis Venture Capital.Other participants at the raising fund include K5 Global, CapitalX, and Gaingels, with the company expecting to earn USD 24 million in ARR within a year and to use the received funds to strengthen its market position. The startup was founded in 2019 and is said to donate 10% of its margin income in March 2022 to support the Ukrainian citizens, amid the ongoing war between the country and Russia.

According to analysis market research company Gartner, cited by, by 2024, 65% of all apps in the Western countries will be created by no-coders, while over 50% of the total IT services will be provided by alternative programming platforms. This puts the low code development industry at a market size projected to reach USD 400 billion by 2027, and an increased business opportunity for no-code marketplaces like Welovenocode.

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Keywords: funding, digitalisation, Russia Ukraine War, fintech, career development, super app
Categories: Payments & Commerce
Companies: Welovenocode
Countries: World
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