German VC firms back €19m series-C for Global Savings

Deutsche Telekom Venture Funds, Ru-Net and Deutsche Bank also took part in the round, which comprised a €10.2m equity ticket and a €9m credit line.

The fresh capital will be used to pursue strategic M&A activity as well as develop new services.

GSG projects it will generate sales of €673m for its retail partners in 2017, up from €463m in 2016. 

Previous funding
Holtzbrinck participated in a €6m series-A funding round for GSG (then CupoNation) in 2014. The VC returned a year later alongside EVentures, Ru-Net, Silicon Valley Bank, Rocket Internet and Deutsche Telekom Strategic Investment Partners to provide a €10m series-B round in October 2015.

Earlier in 2015, the Group had acquired Imbull, a Dutch affiliate marketing company and its brands: Flipit.com, Kortingscode.nl and Actiecode.nl. Then in September 2015, the company acquired Blog de Chollos, the leading Spanish social online shopping community. The group then rebranded from CupoNation Group to Global Savings Group in July 2016.

Company
Established in 2012, GSG operates an online coupon platform for brands and retailers in Europe, India and Brazil. It is headquartered in Munich and has additional offices in Amsterdam, Paris, Madrid, São Paulo, Gurgaon, Narón and Moscow. The company employs 300 people.

People
Holtzbrinck Ventures – David Kuczek (general partner).
Rocket Internet – Oliver Samwer (CEO).
Global Savings Group – Adrian Renner (managing director).

Advisers
Company – Coinvest Finanz Consulting (debt advisory).

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• Topics
• Expansion
• DACH
• Technology
• Venture
• Germany
• Holtzbrinck Ventures