Bownty
A daily deals aggregator that notifies its users via email.
| Date | Investors | Amount | Round |
|---|---|---|---|
| - | investor | €0.0 | round |
| investor | €0.0 | round | |
| investor investor | €0.0 | round | |
| investor investor investor | €0.0 | round | |
* | N/A | Acquisition | |
| Total Funding | 000k | ||
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Bownty operates as a deal aggregation platform, consolidating local experiences, travel, and shopping offers for consumers. Founded in 2010 by Steffen W. Frølund, Palle Ladbye-Hansen, and Marc Lucas, the Copenhagen-based company aimed to become for local deals what platforms like Momondo and Trivago became for travel. Frølund, who served as CEO, brought experience from companies like HP and Billetto, embarking on his entrepreneurial journey with a focus on the experience economy.
The company's business model centers on providing a single access point for users to discover deals from numerous deal sites. This service was available across approximately 1,200 cities in several European countries, including Denmark, the UK, Germany, and Spain. Bownty's platform aggregates offers, allowing users to find deals for offline products and experiences conveniently sorted into categories. The company's revenue generation is linked to its role as a central marketplace for these consumer-facing deals.
Throughout its history, Bownty achieved several key milestones. It secured its first funding in early 2012 from SEED Capital and later received additional investments from Accelerace Invest in 2013. A significant Series A funding round of €3.4 million occurred in October 2015, led by British fund HOWZAT Partners and SEED Capital, with participation from notable business angels like Momondo's Managing Director, Pia Vemmelund. A major strategic move was the acquisition of its largest Southern European competitor, Yunait, in June 2014, which positioned Bownty as Europe's largest deal aggregator at the time. Following a period of change, which saw CEO Steffen Frølund depart in 2016 due to differing visions, the company was acquired by venture capital firm North-East Venture in May 2017. This acquisition led to Frølund's return as CEO, tasked with realizing the company's growth potential.
Keywords: deal aggregator, local deals, online marketplace, e-commerce, consumer offers, travel deals, shopping discounts, European startups, daily deals platform, local experiences, venture capital-backed, Steffen Frølund, SEED Capital, North-East Venture, deal discovery, consumer savings, online coupons, Copenhagen startup, Yunait acquisition, HOWZAT Partners
