Shoop is a Berlin-based loyalty platform that offers consumers cash rewards. Since its founding in 2010, the startup has built a network of more than 2,000 online retailers and brands. According to the Berlin-based company, they have paid out over €100 million in cashback to their users since its founding. The acquisition is intended to connect Shoop's customer base with GSG's extensive network of advertisers, brands, and publishers, thus securing future growth.
“The deal strengthens GSG’s position as the European market leader and builds the largest global digital rewards, savings and shopping content platform,”
says Gerhard Trautmann, CEO of GSG. After the Acquisition of the French cashback company Igraal In March 2020, GSG's primary goal is to empower consumers worldwide to make smarter shopping decisions through its portfolio of consumer engagement platforms and solutions, Trautmann added.
"Combining GSG's scaling with Shoop will give us the opportunity to establish cashback in the German mass market. Europe-wide, Germany is still a comparatively underserved market when it comes to online cashback. By applying best practices across European markets and products, we will be able to make cashback a part of every user journey,"
adds Veit Mürz, CEO at Shoop.
Global Savings Group “is the clear market leader”
"Following the successful acquisition of Igraal in March 2020 and the acquisition of Shoop, GSG has now become the clear market leader in the rapidly growing European shopping rewards market. I am delighted to continue working with the team as GSG transforms this industry in Europe, which is also undergoing significant change in the US, as demonstrated by PayPal's acquisition of Honey. I am convinced that GSG is capable of building a truly unique digital European champion in this segment."
says David Kuczek, General Partner at HV Capital. The VC had already invested in the company when Global Savings Group was founded in 2012 and has also participated in subsequent financing rounds. Most recently, in December 2020, GSG secured a Investment of 12 million euros.
