QOALA, a Browser Extension and Mobile App Rewarding Users for Online Shopping, Secures €391,365 via Crowdcube

QOALA, a “free” browser extension and mobile app that “automatically rewards users while shopping online” with the aim to help digital commerce sites to improve their conversion rates, has acquired 78% (€391,365) of its €500,000 target via Crowdcube (at the time of writing) with 29 days left in the firm’s crowdfunding campaign.

The firm reports a €10,182,386 pre-money valuation, Equity 4.68%, and a €14.08 share price.

With more than 3,000 brands and 225k registered users, Qoala is “a free browser extension & mobile app that automatically rewards users while shopping online with the aim to help ecommerce sites to improve their conversion rates, having generated more than 2.7M€ in GMV.”

Here are the key highlights shared by Qoala:

  • Grew user base from 45k in 2020 to over 225k in 2021
  • Grew to over 3.000 clients in 2021
  • Backed by top VC’s such as Draper and Plug&Play
  • B-Corp certified and more than 75k trees planted

In case of discrepancy or difference in interpretation, the English version of the pitch page “available on the pitch page will prevail.”

The team at Qoala claim that their solution “solves two problems simultaneously for brands and users.” The firm also noted that users “don’t have to go searching for coupons online, saving time and money and our objective is to develop a tool that can help brands improve conversion rates.”

As mentioned in the update from Qoala:

“We believe that our value proposition is a win-win-win, as the user saves money while doing purchases they were already going to make and we make a commission on every purchase.”

They added:

“This value proposition and model has allowed us to grow since being founded in late 2019. Qoala can work with over 3,000 sites from top brands (such as AliExpress, Nike & Asos) for whom we have generated more than 2.7M€ in GMV (87k revenue and -589k EBITDA in 2021).”

They also noted:

“In 2 years we’ve gone from 500 to 225k users becoming the market leader in the Spanish market and with a strong presence in Latin America. This year, we were selected as one of the 100 finalists of South Summit 2021 and were the winners of PCC Startup Booster, one of Spain’s largest startup competitions.”

They added that they’re fundraising “to help hit our 2022 goals and through our partnership with Ecologi we hope to become climate positive.”

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