Groupalia secures US$26mn in financing

- Wednesday, August 10, 2011

Groupalia secures US$26mn in financing

Spanish group deal-of-the-day sales website Groupalia has secured US$26mn in financing in its latest bid to raise capital, according to press reports.

The company has reportedly raised the capital from all its existing shareholders, such as Nauta Capital, Caixa Capital Risc, private investors Lucas Carné and José Manuel Villanueva as well as VC firms General Atlantic, Insight Venture Partners and Index Ventures.

Groupalia operates in Argentina, Brazil, Chile, Colombia, Mexico, Peru, Spain and Italy and offers a daily discount of up to 60% on restaurant meals and theater tickets.

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Joaquín Engel, CEO of Groupalia, said that the company expects to generate sales of US$175mn this year, up from its previous target of US$150m.