The Spanish app, which claims it’s used to auction more than 2,000 products and services a day, applies gamification techniques to online bidding. It plans to double the number of suppliers by the end of the year and broaden its range, according to CEO Marc Zinck. Currently it has around 800,000 customers since it was founded in May 2013 and previously raised €1.5 million from angel investors.
Subasta de Ocio has distinguished itself from other ecommerce apps by applying gamification to traditional auctioning, said CNBB managing director Lucas Brentjens: “This is essential in the crowded app stores.” Brentjens will be joining the board of the company.
CNBB’s investment comes from its new €50 million technology fund that was launched last year and focuses on investments in European tech. This marks the fund’s second investment after investing in Blinker last year.