Mitgo Ventures, the investment division of Mitgo Group, a leading MarTech company globally, has announced the initiation of its new $20M global Publisher Investments programme, with the first funding directed towards Qoala, a next-generation cashback service.
Rafael Rubio, co-founder and co-CEO of Qoala, expressed excitement about the strategic partnership with Mitgo Ventures, stating it as a significant step towards establishing Qoala as the premier cashback solution in Europe and Latin America.
Rubio emphasised the collaborative effort to redefine the cashback landscape and expand services to over 1 million users in the upcoming year.
Qoala, a provider of modern cashback services, has partnered with renowned brands such as Adidas, HP, Nike, IKEA, Vans, Booking.com, ASOS, and AliExpress.
The company boasts an audience of 150,000 users in LATAM and Europe, primarily through its browser extension.
Max Volokhov, Managing Partner at Mitgo Ventures, commended Qoala’s ability to merge B2C and B2B elements effectively while demonstrating adaptability to large clients and their audiences.
Volokhov highlighted Mitgo Ventures’ decade-long experience in ecommerce and marketing, offering numerous growth acceleration strategies and revenue enhancement ideas.
The $20M investment programme targets projects in FinTech, smart shopping, gig economy, generative AI, HRtech, MarTech, Influencer, and no-ads sectors, with the aim to address financial gaps and cash flow issues hindering publisher growth.
