Germany-based e-commerce company Global Savings Group (GSG) secured €12m ($13.3m) on Tuesday from investors including telecommunications firm Deutsche Telekom and e-commerce holding group Rocket Internet.
Venture capital firms Holtzbrinck Ventures and RTP Global also participated in the round while Deutsche Telekom invested through corporate venturing arm Deutsche Telekom Capital Partners.
Founded in 2012 as CupoNation, GSG operates several online platforms that bring together deals and coupons from e-commerce operators around the world, helping them to reach new customers through special offers.
The funding will be used to expand the company’s market presence in the US as it prepares for potential acquisitions to enter new business segments.
GSG received $12.2m in equity funding and $10.2m in debt financing in a 2017 series C round featuring Deutsche Telekom, Rocket Internet, financial services firm Deutsche Bank, Holtzbrinck Ventures and Ru-Net.
Deutsche Telekom’s now defunct Strategic Investments unit had joined Rocket Internet, Holtzbrinck Ventures, Ru-Net, Columbia Lake Partners, e.Ventures, New Enterprise Associates and Silicon Valley Bank in GSG’s $11.3m series B round in 2015, following an undisclosed amount from Rocket Internet in 2012.