Though the amount of the investment has not been revealed, Brazilian media outlet Webholic indicated that it is likely in the seven-digit ballpark, and Globo.com estimated a number of around two million euros. Holtzbrinck has backed over 100 internet companies around the world, including Dafiti.
CupoNation arrived in Brazil at the end of 2012 with a US$11 million (R$23 million) from Rocket Internet. Its sights set on becoming the leading platform of its kind in Brazil, the company aims to close partnerships with 800 online stores by December. CupoNation already has established relationships with Dafiti, Mobly and Walmart, its platform featuring more than 500 promotional offers from Brazilian online retailers.
With the Holtzbrinck investment, CupoNation will improve user experience and increase marketing efforts. Its team will also create new tools to render the platform easier to use and more personalized.
“We are very pleased by the fact that Holtzbrinck, a fund that is highly respected in Europe, believes in the growth potential of our business model. The fund’s vast experience will help us to accelerate the growth of CupoNation in Brazil and around the world,” remarked Maria Fernanda de Azevedo Antunes Junqueira, Managing Director at CupoNation Brazil.
CupoNation won’t be without a fair amount of competition in the Brazilian market. Buscapé-backed Cuponería will be a force to contend with, among others.