SOURCE: Groupalia

Groupalia

August 09, 2011 16:47 ET

Groupalia Increases Its Capital by 26 Million Dollars

Groupalia Is Currently a Leading Group Buying Player in Latin Markets and Southern Europe; The Company's Objective Is Closing the Financial Year at $175 Million in 2011

BARCELONA, SPAIN--(Marketwire - Aug 9, 2011) - Groupalia, a site that features a daily deal in the form of a discount coupon on the best things to do, see, eat and buy in the cities where it is present, is a leader in the online group-buying sector and is increasing its capital by $26 million.

The investment is taking place during a period of excellent growth for Groupalia, which in July reached a new milestone in terms of sales, with a monthly turnover of $19 million. Groupalia currently has 10 million users worldwide and is present in 150 cities in the eight countries in which it operates.

The company has raised this amount of capital in a new round of financing coming from the shareholders who founded Groupalia in May 2010. The shareholders include Nauta Capital, Caixa Capital Risc, and the founders and managing directors of Privalia, Lucas Carné and José Manuel Villanueva, together with the three venture capital funds that joined the shareholders last April: General Atlantic, Insight Venture Partners and Index Ventures.

The leisure services offered in the daily deals range from restaurants, spas, gym, events, adventure and more. Discounts on retail prices range from 40% to 60%.

"With this injection of funding, we aim to consolidate our global position as a leader in the sector and increase our international presence with selective openings in strategic countries. Our efforts are also aimed at continually improving the quality of our campaigns and providing a better service to customers and our partners," stated Marcel Rafart, the president of the company.

Groupalia has now increased its sales objective for the close of 2011 to $175 million. Having commenced its activity only 15 months ago, the company's growth has exceeded even the most optimistic forecasts.

The company was provided with legal advice regarding this capital increase by the legal firm Garrigues.

About Groupalia

Groupalia, a leader in the sale of online leisure activities, currently has 10 million users worldwide. Groupalia has 600 employees and is present in eight countries: Spain, Italy, Brazil, Mexico, Argentina, Chile, Colombia and Peru.

www.groupalia.com

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