Germany-based online price comparison company MeinProspekt has picked up investment from TheMediaLab, a joint venture of Germany-based media groups Madsack and WAZ, as well as existing investors the venture capital (VC) fund High-Tech Gründerfonds (HTGF) and VC firm Mountain Super Angel. HTGF quoted the size of the investment as ‘seven digit’.
HTGF had previously backed MeinProspekt’s series B round in November 2010, contributing €500,000 ($700,000) in financing. Mountain Super Angel provided the initial seed funding, investing what it called a ‘high six figure’ sum in July of the same year.
MeinProspekt combines advertising and offers from German retailers on its website and accompanying mobile application (app), working in a similar way to Groupon in the US. Total downloads of the app and its update have reached more than 2.8 million to date.
Dirk Weipert, managing director at the Media Lab, said: "MeinProspekt constitutes another building block following our spring-time announcement of our venture capital firm’s strategic focus on location-based online businesses. We were particularly convinced by MeinProspekt’s high mobile coverage and the professional and experienced management and founding team."
Since its founding in 2007, TheMediaLab has invested in a series of digital companies, providing guidance as well as financial support. Its portfolio includes not-at-all-like-eBay online retailer reBuy, employer assessment platform Kununu and Web 2.0 media platform Publishing Cloud.