groupalia

Daily deals giant Groupalia scores $26m in funding, raises 2011 turnover target to $175m

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Online group buying startup Groupalia has secured another $26 million in financing, bringing total capital raised to roughly $63 million, after landing a $15 million capital injection earlier this year.

The company, which has growing operations all over Latin America as well as in Spain and Italy, has raised the fresh capital from all its existing shareholders: Nauta Capital, Caixa Capital Risc, private investors Lucas Carné and José Manuel Villanueva as well as VC firms General Atlantic, Insight Venture Partners and Index Ventures.

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.

Groupalia says it projects to close the financial year at $175 million in 2011, up from the $150 turnover target it set last time the startup raised a round of funding.

The company, founded in 2009, says it currently has 10 million users worldwide and is present in 150 cities in the eight countries in which it operates. The company has over 600 employees and boasts a network of over 10.000 partner companies.