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Italian ShopFully buys Tiendeo for €35M

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The Catalan startup Tiendeospecialized in displaying discount catalogs from different stores in multiple cities, has announced its acquisition by the Italian company ShopFully; an operation that has cost €35 million, According to members of the company itself.

its founders, the sisters Eva and María Martín with Jonathan Lemberger, were the owners of this business since its foundation in 2011, having more than 60% of the property in their hands, while the rest was owned by various private investors and “business angels”, such as Luis Martín Cabiedes (of the Cabiedes & Partners fund), Jesús Monleón, Francois Derbaix (founder of Rentalia and TopRural and today co-founder of Capital Index) or the founders of Idealistic, the Encinar brothers. The founders of the company will remain in management positions within the company after this acquisition.

“Shopfully is our counterpart in Italy, he came to us as part of his consolidation plan in Europe and we accepted his offer. We close the sale before Easter, “explained Eva Martín, who will continue to lead through a management position now with ShopFully, like the other co-founders of the company.

As for the 170 employees who work at Tiendeo, from now on they will be integrated into the ShopFully staff; yes, they will remain working in the company’s offices in Barcelona. In addition, from Tiendeo they assure that the brand will retain its name as it has operations in countries where ShopFully is not presentas are the cases of Spain, Portugal, France, Mexico and Brazil.

How did Tiendeo come about?

The Martín sisters together with Jonathan Lemberger met one day in Barcelona in 2011 with the idea of ​​creating an innovative platform within the advertising sector that would be easy to use on mobile phones, so that users could easily consult all kinds of offers from different physical stores around your location in real time. This is how Tiendeo emerged.

The company has been in constant growth since 2013, when it obtained its first round of financing. Now, eleven years after its creation, Tiendeo finally has significant support to continue growing on ShopFully, a platform owned by the group DoveConvenientwith a function similar to that of the Catalan startup but aimed at the Italian market and, of course, much larger and more established than the Barcelona company.

When entering Tiendeo, users will be able to see in detail the offers of each establishment in their city distributed in different categories: supermarkets, fashion, electronics, home, DIY, perfumery, toys and babies, sports, travel, motor, restaurants, health, books, weddings and banks.

What once started as a platform offering an advertising-focused business model to large distributors like Zara, Mercadona, Carrefour or El Corte Ingléshas evolved over time by adopting new mechanisms to diversify its services through digital marketing products such as cash-back, a modality that allows customers to save money on their daily purchases through direct reimbursements related to selected products, in addition to the integration of a software specially designed for your advertising system integrated with Google and Facebook.

The acquisition of Tiendeo by the DoveConvenir group is the first acquisition of this Italian company since it closed a financing round in 2015 to support Highland Capital Partnersa company that at the time was a shareholder of the also Spanish socialpoint, later sold to well-known video game studio TakeTwo.

Photo: Tiendeo

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