The discount code company Global Savings Group has secured fresh capital from its investors. Now the Munich-based company plans to further advance its expansion in America.
The Munich-based company is receiving €12 million from its existing investors Rocket Internet, Holtzbrinck Ventures, DTCP, and RTP Global. Smaller co-owners have sold their shares to the remaining investors and the management board.
Global Savings Group plans further expansion and acquisitions
Founded in 2012 as Cuponation, the company offers voucher portals in over 20 countries and employs more than 400 people in eight offices. With the fresh capital, the Global Savings Group intends to accelerate its expansion into the US market, which began last year. Following the acquisition of Pouch Further acquisitions are also expected to follow at the beginning of the year.
Co-founder and Managing Director Gerhard Trautmann says:
“We are excited to continue expanding and solidifying our position as a leading provider of commerce content solutions.”
David Kuczek, General Partner at Holtzbrinck Ventures, says they are very satisfied with the company's development in recent years.
