HomeFundingRocket Internet backed Global Savings Group secures €19.2 million to grow beyond...

Rocket Internet backed Global Savings Group secures €19.2 million to grow beyond couponing

The Global Savings Group (GSG), a global digital commerce platform for publishers, advertisers and consumers, has just secured €9 million of credit and €10.2 million of equity funding in a Series C financing round. The fresh capital will be used by the Munich-based GSG to continue expanding its offering beyond online couponing, to further strengthen its growing travel and lifestyle deal business, and to enlarge its portfolio of solutions for media companies. The new funding was provided by Holtzbrinck Ventures, Rocket Internet, Deutsche Telekom Venture Funds, ru-Net and Deutsche Bank.

Adrian Renner, Managing Director and Co-Founder of the GSG, stated: “This investment helps us to grow our existing business further, to continue pursuing our strategic M&A activities, and to bring new services to our partners and customers. The funding strengthens the development of our solutions for our media partners, where we provide them monetization opportunities that go beyond ads. The new round of fundraising is a sign of confidence in our successful path of building the leading digital commerce platform for advertisers, consumers, and publishers.”

The Global Savings Group was founded in 2012 and unites digital models that drive purchases on one platform, creating a winning ecosystem for advertisers, publishers and consumers. In addition to its online couponing brands, the GSG operates deal communities throughout Europe. The GSG has recently launched HolidayDetective and Savly, curated online travel and lifestyle portals that collect and showcase the best deals and saving recommendations in the travel and lifestyle sector. In 2017, several media companies such as SPIEGEL Online, Metronieuws and others joined the circle of GSG’s chosen publishing partners, which include the Daily Mail, L’Express, Le Monde, El Pais, Corriere Della Sera and many others.

The Global Savings Group plans to continue on its strong growth track, which has seen an increase in Gross Merchandise Volume (GMV, volume of sales generated for its retail partners) of 99.4% to €463 million in 2016, and expects to generate sales worth over €673 million in 2017. The GSG closed 2016 with a profit and expects to continue this path in 2017.

David Kuczek, General Partner at Holtzbrinck Ventures, said: “The GSG is one of Europe’s fastest-growing companies. The company has proven over the last few years that it can obtain market leadership in multiple countries around the world and maintain a strong performance in its business segment. At the same time, the GSG never stands still and dares to take the next strategic steps, such as strengthening its offering outside of couponing. The team and its vision have everything it takes to continue the steep growth curve of the GSG. This is why we keep on investing in this promising business model.”

Oliver Samwer, CEO of Rocket Internet, stated: “The GSG proves our ability to support and build market-leading companies. Since its launch in 2012, the GSG has evolved from a coupon player to a winning commerce platform for advertisers, consumers and publishers. Its expanding portfolio of own brands and publisher partnerships around the world ensures stable growth and profits. Thanks to our recent investment, the GSG is well positioned to reach its strategic goals.”

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Thomas Ohr
Thomas Ohr
Thomas Ohr is the "Editor in Chief" of EU-Startups.com and started the blog in October 2010. He is excited about Europe's future, passionate about new business ideas and lives in Barcelona (Spain).

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