CUPONATION, Germany-based retail discount platform, nets €10M Series B from Rocket Internet, NEA, Holtzbrink Ventures et. al.
CUPONATION, a leading operator of digital destination platforms for offering the best in discounts & bargains across retail around the globe, just secured EUR 10m in a Series B financing round. The funding comes from Rocket Internet, Holtzbrink Ventures, New Enterprise Associates (NEA), e.ventures, ru-Net, Deutsche Telekom Strategic Investments (DTSI), Silicon Valley Bank and Columbia Lake Partners.
CUPONATION aims at bringing the best opportunities to save from across all categories to everyone around the world and builds tools to access and discover them. The company currently operates more than 40 platforms in 20+ countries seeing multimillion visitors every month and rapidly increases its footprint, global coverage and scale. For being able to have an offering of more than 500,000 bargains for users, CUPONATION partners with around 25,000 online stores and brands. CUPONATION launched its first platform in September 2012 in India and since then entered markets in 5 continents with the most recent opening being in Mexico in November 2015.
CUPONATION plans to use the funds to support the strong growth track of the company, which has seen an increase in its revenues of 670% in 2014. CUPONATION intends to keep up its global expansion with the launch of new platforms in new markets and also to support the growth in existing locations.
According to Andreas Fruth, Managing Director and Co-Founder of CUPONATION, «the business is developing very fast. Bringing CUPONATION to users everywhere around the globe is a big motivation for us. We are more than happy for being able to contribute to the evolution of the online shopping world both for our advertising partners, but especially also to our millions of users worldwide. This new round of fundraising will help us to grow our business further and strengthening our position as one of the biggest operators of digital platforms for discounts outside of the US.»
CUPONATION is leading operator of digital destination platforms that enable users to discover the best opportunities to save from all stores and brands across all categories from anywhere around the globe. CUPONATION collects all available coupons, discounts and deals from online stores into one website and enables customers to save significantly on their everyday online shopping.
CUPONATION was founded by Gerhard Trautmann, Adrian Renner and Andreas Fruth in 2012. The company is headquartered in Munich, Germany and has further offices in Paris, Madrid, Amsterdam, São Paulo, New Delhi and Moscow. CUPONATION operates in more than 20 countries with discounts from over 25 000 online stores and brands, including Amazon, Asos, Zalando and Domino’s. Further information on CUPONATION is available atwww.cuponation.com
Source: Rocket Internet Press Release