Spain’s Groupalia Gets 2.5 Million Euro Financing
May 14th, 2010 by admin
The first $35 million for Groupon gave impetus to the German Citydeal, now the further $135 million is goading on another wave of investors, including in Europe. New in the race is the Spanish Groupalia, who earlier this week announced their first big financing round of 2.5 million euro:
Picture of Groupon Fever: Spain’s Groupalia Gets 2.5 Million Euro Financing [source:excitingcommerce.com]
"Groupalia, an online site which features daily deals, in the form of a discount coupon on local services, closed a first round of institutional funding totaling 2.5M.
The financing comes from Nauta Capital, who led the round with an investment of 805,000, and Spanish bank la Caixa who contributed 250,000.
The rest comes from individual investors, namely Lucas Carn and Jose Manuel Villanueva (the founders of Privalia, another Nauta portfolio company) with an investment of 660,000, and Groupalia CEO Joaquin Engel (125,000)."
Groupon wants to use the capital to fuel expansion in Spain and Italy and in the future also in Brasil and Mexico.
Nevertheless, Groupon-like models in Europe are not fuelling fantasies at the level as in the US. Germanys Citydeal, which is currently the fastest growing European player, was last valued (German link) at a relatively modest 16.5 million euro.
Dailydeal Raises $7 Million Euro From Mangrove CityDeal Gets Another 5 Million Euro Groupon Nabs A Healthy $30 Million Groupon Obtains Additional $5 Million Capital
Originally posted in German by Marcel Weiss, adapted for excitingcommerce.com by Jason Soo.[source:excitingcommerce.com]
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