Bonusway raises €6.9 million in funding – A new kind of loyalty programme for active online shoppers
The Helsinki-based growth company Bonusway announces €6.9M in funding, which is a mixture of equity and debt financing. The venture capital funding comes from Buran VC and Visionplus. The e-commerce loyalty service offers cash rewards and online shopping inspiration for consumers in Finland, Sweden, Turkey and Russia. For e-commerce businesses, Bonusway offers a new kind of loyalty programme to make existing customers come back and reach new ones.
“The investment will be used for marketing to further boost the user acquisition and retention of Bonusway. The company has reached its previous operational targets and the latest investment round will enable us to be ready for wider expansion. Bonusway’s revenue is growing 15% monthly, which proves that there is a need for an online loyalty program which offers users actual money and at the same time it acts as a key driver for growth for online merchants”, says Tatu Koistinen, CEO and co-founder of Bonusway.
The €3.7M equity funding was raised from Buran VC and Visionplus. Buran VC is a Central and Eastern European venture fund founded in 2012, which invests in e-commerce services, online media, mobile internet, communitainment and SaaS, such as GetIntent and Ivi.
“We are delighted to become part of the Bonusway journey. We believe that this company is destined for success in its markets and we are a very good fit for each other, since our core geography is the same”, says Michael Szalontay, Managing Partner at Buran VC.
Visionplus is a Helsinki-based venture fund, that specialises in digitalisation and it was the first institutional investor for Bonusway. Visionplus' other investments include e.g. Futurefly and Optofidelity.
“It is great to see there are also global Finnish e-commerce success stories, like Bonusway. Buran VC was selected as a lead investor for this round to secure Bonusway’s growth in selected markets.” says Jari Tuovinen, partner and co-founder at Visionplus.
Bonusway is a merchant-independent platform and is the market leader in Northern and Eastern Europe with over 1.5M users and 3 500 e-commerce partners worldwide.
---
For additional information:
Company media kit here
Tatu Koistinen, CEO
+358 40 779 9497
tatu.koistinen@bonusway.fi
Bonusway is a 2011 established Helsinki-based growth company. Bonusway offers cash rewards and online shopping inspiration for consumers. For eCommerce businesses we offer loyal customers and a way to reach their marketing goals. Bonusway operates in Finland, Russia, Sweden and Turkey and is the market leader in Northern and Eastern Europe with over 1 500 000 users and 3 500 eCommerce partners worldwide. For more information, please visit https://www.bonusway.com/.
