German tech startup Admitad invests $1.2m in service providing coupon solutions for media
IT company Admitad, with the HQ in Germany and offices in the US (Chicago) and around the world, announced an investment of $1.2 million into White Label that provides сoupon solutions for the online media.
In 2021, the startup generated $25 million in sales for brands, secured $1 million in profit for online media, received a second investment backup from Admitad and joined Admitad's family of acquired businesses. In 2022, White Label ambitiously plans to increase profit by 250% while aiming at global expansion.
Coupon solutions that White Label develops unlock an extra audience monetization channel for media resources and allow brands to drive sales natively from the leading online resources. The startup currently works with over 1,500 brands and major media holdings. Preliminary numbers for 2021 revealed that users saved over $1.5 million with promo codes they found on coupon pages that White Label had created for media.
Admitad invested into the project in two rounds, placing $350,000 in the company in the first round and $850,000 in the second, the latter of which took place in 2021 and was followed by the startup joining the structure.
Alexander Bachmann, Founder and CEO, Admitad: "In the context of proliferating promo code buying culture, White Label has huge potential. According to Admitad's estimates, promo code purchases rose by 36% worldwide in 2021. The unique model allows the business to outpace the market in terms of growth and enjoy all the benefits of the trend. Our company's infrastructure will ensure even more intense growth for White Label."
The story of White Label started in 2019. The startup grew within the accelerator Admitad Projects. In 2020, sales through the startup's tools rose eight-fold, and White Label began to actively expand. In 2021, the company's footprint grew to include India and the UAE.
Vladislav Gubin, Founder and Head, White Label: "This year, we're rapidly growing in foreign markets, including a number of European countries and the United States. We plan to develop new tools to help consumers save and make smart purchases. Today, we are considering a mobile app and browser extension and are open to partnerships. By the end of 2022, we expect a 250% increase in revenue YoY."