CUPONATION just secured € 10 Million 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 is a 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. The platform collects all available coupons, discounts and deals from online stores into one website and enables customers to save significantly on their everyday online shopping. The company was founded by Gerhard Trautmann, Adrian Renner and Andreas Fruth in 2012. CUPONATION is headquartered in Munich, Germany and has further offices in Paris, Madrid, Amsterdam, São Paulo, New Delhi and Moscow.
CUPONATION 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, platform partners with around 25,000 online stores and brands. The company 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. The Young company 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.