Qoala raises 1.6 million euros in a new round of financing

Qoala continues the path of growth. The industry company loyalty just closed one funding round, key to its growth. Joining the list of participating investors -among which were already Draper B1 or angel investors such as Andreas Mihalovits- investment funds WayraTelefónica’s early stage fund, and Media Digital Ventures, the leading media for equity fund in Spain, part of Antai Venture Builder.

In addition, they are added more than 250 investors of the collective financing platform or “equity crowdfunding” crowdcube. “From Wayra we are delighted to invest in Qoala, it has a very powerful founding team and a very scalable product that allows e-commerce conversion to increase and facilitate user savings; something very necessary in the moments that we are living. We are looking forward to being able to support them from the entire Telefónica group so that they continue to grow and expand to new countries” comments Marta Antúnez, director of Wayra Barcelona.

Work with influencers and agencies

The media for equity operation with MDVone of the pioneers in Spain, provides Qoala with a type of investment that allows it to capitalize on your growth and work with top-tier influencers and agencies. In this way, the company hopes to be able to considerably increase its user base.

Ramiro Iglesias, MDV venture partner explains his rationale behind this investment “With this investment in the Social Hub, we replicate the communication strategy of one of the great success stories in the sector…which has always opted for content creators, influencers and esports teams to generate awareness and credibility in its target audience.”

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The company, dedicated to finding and applying discount coupons in online purchases and providing its users with “cash back”, already has more than 250,000 users and works with more than 3,000 stores in Europe and Latin America.

With this capital injection, Qoala is positioned to become the benchmark ecommerce solution in Spain, and to make its way in Latin America. In addition, it intends to expand the team with top-level talent, attract more users and continue developing the sustainable aspect of its product by getting involved in new climate action projects.

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