Commerce platform Global Savings Group raises €19.2 million in credit and equity funding

Global Savings Group (GSG), a digital commerce platform for retailers, brands, and publishers, has raised €19.2 million in credit (€9 million) and equity (€10.2 million) funding.

The Series C round comes from Holtzbrinck Ventures, Rocket Internet, Deutsche Telekom Venture Funds, ru-Net, and Deutsche Bank.

Global Savings Group provides digital retail solutions for its clients to offer deals to customers, such as savings and coupons. The new funds will be used to grow the company’s travel and lifestyle deal business; it recently launched two new services in this space, HolidayDetective and Savly.

“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,” said Adrian Renner, managing director of the Global Savings Group. “The funding strengthens the development of our solutions for our media partners, where we provide them monetization opportunities that go beyond ads.”

According to the company, the volume of sales generated for its retail partners reached €463 million in 2016, ending the year with a profit, and it expects to reach €673 million by the end of 2017.

“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,” added Oliver Samwer, CEO of Rocket Internet. “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.”