Two Small Fish Ventures, a fund that focuses on supporting Toronto and Waterloo-based early stage internet companies, has made an investment in Toronto-based #paid. Two Small Fish was founded by Wattpad co-founder Allen Lau and former Wattpad head of community and content Eva Lau.
#paid allows brands to connect with social media celebrities for product placement. In a blog post, Allen said that he understands the value of influencers in part because of Wattpad’s own Wattpad Stars program, which connects Wattpad writers to brands like Sony and General Electric.
“When we made the investment last year, it was decided that we would rather keep it under the radar for a while since #paid’s founders Bryan and Adam would like to keep building the company for some time first,” Allen wrote.
Speaking with BetaKit, #paid co-founder and CEO Bryan Gold said that Two Small Fish is the most notable investor in the company’s angel round, as #paid isn’t yet raising a seed round. We’ve followed up for more details on the company’s angel round.
“The investment will help #paid continue to build world-class influencer marketing software as well as fuel our expansion into the United States,” Gold said.