After its financing round closed in November last year, annouced by Legal Dealmaker, Qoala has acquired the one-click payment company Kupay. The Madrid-based startup, founded in 2021 by Federico Sujoluzky and Jaf Aguiar and backed by Demium and other renowned business angels, allows its users to skip the checkout process when buying online.
In this way, they avoid the buyer having to enter their payment and shipping details every time they go shopping. It is the democratisation of Amazon’s “buy now” experience. This allows the user a much more optimised shopping experience, and the shop an increase in sales conversion and a reduction in shopping cart abandonment, since the checkout process is where there are more points of friction, and therefore, where more users fall out during the purchase process.
Federico Sujoluzky, co-founder and CEO of Kupay comments; “Joining Qoala made perfect sense. We share the same vision and we know that together we will get there much sooner than separately. Our two models together offer a unique value proposition in the market, both for our users and ecommerce, who will now enjoy a streamlined shopping experience. Qoala’s 350,000 users can now have their data unified and secure within one site, and never have to fill out a form to shop online again. This, in addition to the cashback programme, brings Qoala closer to the total online shopping solution.”
The deal has been backed by blue chip investors including Wayra, Draper B1, Abac Nest, Plug & Play, and business angel Andreas Mihalovits.
Rafael Rubio, CEO of Qoala, explains about Kupay’s added value to Qoala: “We add a layer of value to Qoala that no competitor in the cashback world has, and most importantly; it is of great value to our users. Kupay has great technology, founders with a lot of experience in the ecommerce world and who share our vision, and a perfect fit at a strategic level.”
The company, dedicated to finding and applying discount coupons to online purchases and providing its users with cashback, already has more than 350,000 users and works with more than 3,500 shops in Europe and Latin America.
With this transaction, Qoala is positioned to become the leading ecommerce solution in Spain, and to make inroads in Latin America, now allowing its users to shop in an optimised way while receiving cashback for it.
Metricson advised Qoala with a Corporate M&A team led by head of area José María Vidal, together with lawyers Luis Ineba and Álvaro Ferra, the same team that advised the company on its latest funding round.
