# Promos Cupones Digitales S.L.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/promos-cupones-digitales-s-l

- Industry: Software
- Headquarters: Madrid, Spain
- Website: www.promosapp.es
- Total disclosed funding: $1M
- Latest round: Seed (Jul 8, 2021)
- Investors on record: 1

## About

Promos Cupones Digitales S.L. operates a digital cashback rewards platform that allows consumers to earn money back on groceries from various supermarkets, enhancing their shopping experience and saving on essential purchases.Founded in 2019 and headquartered in Madrid, Spain, Promos Cupones Digitales S.L. provides a cashback rewards service that encourages users to shop at participating retailers. The company's founding team consists of Balys Baltakis and Lina Beinortaite. In July 2021, Promos raised USD 1 mn in a Seed round led by Change Ventures. This funding is the total amount raised to date, showcasing the company's focus on building its platform in Spain.Promos operates a cashback rewards platform that incentivizes consumers to shop for their favorite brands across various supermarkets. Users earn cashback on a diverse selection of products, including water, flour, pasta, toilet paper, eggs, and milk, by scanning their purchase receipts through the Promos app. The platform aims to enhance the shopping experience for everyday consumers and offers new promotional opportunities weekly, targeting markets such as Spain and potentially other European countries.In the most recent fiscal year of 2023, Promos reported a revenue of USD 235,800.8 with an EBITDA of USD -1,777,353.2. The company generates revenue through a cashback model, encouraging transactions between consumers and retailers, thus fostering customer loyalty.The recent funding round concluded in July 2021 will be utilized to enhance the Promos platform as the company prepares for its rollout in Spain and plans for future geographic expansion. Specific details on new product launches or additional regions targeted for expansion have not been disclosed, but the funding aims to support the company's growth strategy.

## Funding rounds

- Seed, Jul 8, 2021, $1M — Change Ventures

## Investors

- Change Ventures (https://capitalatlas.ai/funds/change-ventures) — Seed