Bownty attracts 0.5 mio € to clean up the market for deals
2012-01-05
The Danish IT entrepreneurs in Bownty have raised 0.5 mio. € in investment to clean up the deal market (offers limited in time or numbers). Bownty gathers, sorts and communicates deals from more than 100 deal sites and in this process they provide the users with a better overview of relevant deals. The investment from SEED Capital will be used for expanding their partnership concept and for adding new features to their platform.
The number of dealsites has exploded over the last period, which has made it impossible for the user to maintain an overview. The consequence being that users risk missing out on the best or most relevant deals. Bownty is the answer to this concern. With Bownty users get an overview of all deals and the possibility to receive only a limited number so as to avoid the mail tsunami that happens at other sites. All in all Bownty is trying to make it as comfortable as possible to be a deal user.
Steffen W. Frølund, CEO, Bownty: "We are certain that our approach - doing for deals what Momondo did for travels - is the right one. The user will gain access to a multitude of relevant deals and our partners will see a lot of new customers. We are happy for the opportunity to run even faster with the investment from SEED Capital".
Since the launch of Bownty the service has gained massive interest. More than 100 deal sites are already on the platform that daily shows more than 6000 deals. Several thousand users have already signed up. The investment from SEED Capital of almost 0.5 mio. € will be used for expanding their platform and partnership concept as well as for building a more international focus.
Jakob Ekkelund, Investment Manager, SEED Capital: "Dealsites are already one of the most dominant trends within IT right nu, and we are convinced that this is just the tip of the iceberg. Bownty has already established themselves as the biggest deal aggregator in Denmark and even more important they are able to rethink their service and business model into an innovative partnership strategy, which we have high hopes for".
