Bending Spoons pledges $3m to artist support fund

The announcement coincides with news of Bending Spoons’ acquisition of the digital file-sharing platform WeTransfer, which boasts 2 billion file transfers by 80 million monthly active users, this week.

Established by WeTransfer in 2021, The Supporting Act Foundation received an initial €1 million donation, with an annual pledge of 1% of WeTransfer’s revenue and access to its global advertising and editorial platforms.

In 2023, Oroko Radio, an internet radio station in Ghana, secured a €50 000 Impact Grant from the foundation to aid its projects. Founded in 2021, the not-for-profit internet radio station offers a platform for African and diasporic creative communities while amplifying emerging talent outside the mainstream. Over the years, it has featured notable residents including DJ and academic Kobby Ankomah Graham, rapper and activist Wanlov and Afro-folk artist Tommy WÁ.

“When the possibility of acquiring WeTransfer presented itself, we moved swiftly to make it happen,” Bending Spoons co-founder and CEO Luca Ferrari said. “There’s so much about WeTransfer that impresses us. First and foremost, it’s a terrific product that solves a real, widespread need – and does so better than most competitors. This provides a solid foundation to build upon, with plenty of potential to enhance WeTransfer’s usefulness even further. Additionally, the brand is extremely strong, particularly among creatives, which is no small achievement and offers great promise for the future.

“We appreciate the commitment the WeTransfer team has made to social responsibility and the creative community, and we want to carry the torch.”

“Nurturing creative communities and amplifying their voices has been key to our success,” WeTransfer CEO Alexandar Vassilev said. “Some of Bending Spoons’ most successful products are tools that serve creativity. Therefore. we are confident that this milestone will complement both businesses, supercharge our growth, and help us create even more value for creative industries at large.”

In April, WeTransfer introduced a feature enabling creatives to sell files directly on the platform, integrating payments to streamline and secure transactions, with no extra fees through a partnership with American multinational financial services and software Stripe.

“At WeTransfer, we believe that earning money for your work should be as effortless and simple as sharing a file,” Vassilev said. “Bringing payments into our product ecosystem is a major new chapter in our mission to boost the convenience and earning potential of our creative user base, while removing common barriers through secure and beautifully simple technology.”