Funding
The German e-commerce startup deal united has secured funds from High-Tech Gründerfonds and sympasis innovation capital, for the further development of its web discounting and incentivisation software for internet retailers.
Romy Schnelle, investment manager of High-Tech Gründerfond,s said, “We are convinced of the value and sustainability of deal united’s services. The option to get free products and discounts is very compelling to customers, especially in the price sensitive online markets.”
When someone browsing a retail website leaves without mazking a purchase, the deal united system automatically makes an offer that is hard to resist: they are offered they have shown interest in for free if they buy something else at one of deal united’s partners. The incentive for the online retailer who is giving the product away is that the free product is refinanced through a commission paid by deal united’s partner. There are no costs for the online merchant. deal united’s constantly growing partner network consists of high-quality and reputable brands such as OTTO, Fonic, myToys and many more.
The system is currently operational in seven countries. Jarg Temme, CEO of deal united, said winning the backing of such experienced investors validates the business model. The new money will be used to accelerate international expansion.
Alongside Germany, deal united is available to online shoppers in the UK, in France, Spain and Italy, Austria and Switzerland.
High-Tech Gründerfonds invests in young technology companies that transform promising scientific research into businesses. The public-private partnership fund has access to €272 million from investors including the Federal Ministry for Economy and Technology, the KfW Banking Group, BASF, Robert Bosch, Carl Zeiss, Daimler, Deutsche Telekom and Siemens.
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