la Caixa
Nauta Capital

Spanish group buying site Groupalia lands another 5 million euros

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Groupalia, a Spanish group buying site, has raised 5 million euros in its second institutional round after securing 2.5 million euros back in May.

Again, the funding comes from Nauta Capital, and Caixa Capital Risc, Spanish bank la Caixa’s venture capital division.

Previous angel investors also participated in the round, namely Groupalia CEO Joaquin Engel in tandem with Lucas Carné and Jose Manuel Villanueva (the founders of Privalia, another Nauta portfolio company).

Groupalia is a site that features a daily deal, in the form of a discount coupon, on the best things to do, see, eat and buy in the cities where it is present.

The company says the extra capital will be used for its planned expansions in Latin America and Southern Europe in the forthcoming months, and to help consolidate its business in the countries where it already has a presence: Spain, Italy, Brazil, Mexico and Argentina.

Its stated goals for 2010 is to attract 2 million users (it boasts 1 million today) and reach turnover of five million euros. Groupalia has 100 employees.

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