Citydeal.de, a Germany-based discount shopping Web site, has raised €4m (approximately $5.6m) in its first round of venture capital funding.
Investors include eVenture Capital Partners, Holtzbrinck Ventures and Rocket Internet.
The capital infusion will enable the company to establish its business in the rest of Europe.
The business model is quite easy: the site offers one discounted deal per day, typically on a service – a restaurant voucher or a spa day: if enough people take the deal, they get a voucher.
For service providers such as hotels, restaurants and leisure facilities, CityDeal.de offers a risk-free opportunity to win new customer groups online.
For service providers such as hotels, restaurants and leisure facilities, CityDeal.de offers a risk-free opportunity to win new customer groups online.
FinSMEs
27/01/2010