Wednesday, September 23, 2015

Krakow VC Innovation Nest’s new investment valued at 20 Million PLN

Paul Chen



International Coupons SA, owner of  kodyrabatowe.pl, the largest rebate code provider in Poland, the fund has received investment from Innovation Nest and others at an approximate valuation of 20 million zł.
Founded in 2010, it is one of the few Polish startups, which was profitable since the beginning of the operation. The company's founders introduced attractive revenue model for customers and the company quickly became influential, which led to a further, independent development.

In 2013, because of its success, kodyrabatowe.pl, using its own funds formed International Coupons. At the moment, it is composed of several services with discount vouchers worldwide. In the spring they entered into several key markets in South America, Asia and Africa - explains Szymon Dobosz, CEO of International Coupons.
For several months the company has also developed a mobile application Kodyrabatowe.pl, that provides the latest promotions and discount codes unique to the largest stores and most popular restaurant chains in the country. The founders of the International Coupons ultimately want to create a comprehensive tool to save across all internet platforms, stores, restaurants and entertainment venues - With further international expansion and the rapid development of mobile applications, we require considerable financial costs, we decided to find an investment partner that would not only support us financially, but just as importantly, will help us with implementation - continues Dobosz.


According to estimates by the service in the last 12 months with discount codes benefited about 20% of Polish Internet users. This purchase of goods and services worth nearly 200 million zł. International Coupons are present in 18 countries. The Management Board (Szymon Dobosz - CEO, Bartholomew Tyranowski - CTO) stated that the new investments will be spent on development in these areas that require sizeable capital and whose return on investment is long-term. It is mainly the development of mobile applications and in foreign markets.

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