Global Savings Group Secures USD 23M in Financing to Strengthen its Offering Outside of Couponing
19 OCTOBER 2017, MUNICH
SummaryThe Global Savings Group, a leading global digital commerce platform for publishers, advertisers and consumers, has just secured USD 23m (EUR 19m) in financing. The funding comes from Holtzbrinck Ventures, Rocket Internet, Deutsche Telekom Venture Funds, ru-Net and Deutsche Bank.
The Global Savings Group (“GSG”), a leading global digital commerce platform for publishers, advertisers and consumers, has just secured USD 10.2m (EUR 9m) of credit and USD 12.2m (EUR 10.2m) of equity funding in a Series C financing round. The funding will be used by the 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 funding is 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, says: «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 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 USD 550m (EUR 463m) in 2016, and expects to generate sales worth over USD 800m (EUR 673m) in 2017. The GSG closed 2016 with a profit and expects to continue this path in 2017.
David Kuczek, General Partner at Holtzbrinck Ventures, says: «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, says: «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.»
Thomas Pemsel, Market Area Head Deutsche Bank Munich, says: «We look for high-growth companies with solid financials that drive new digital business models allowing them to become market-leaders on a global scale. With the GSG, we have found a company with a similarly strong position and presence in Europe, Asia Pacific and in the Americas. We are happy to contribute to the GSG's fast development and are looking forward to accompanying them on their journey to global market leadership.»
The GSG was advised on debt financing by CoInvest Finanz Consulting.
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