Admitad Owner Invests $3M into LetyShops (cash-back service)
LetyShops cashback service has been given $3M — a one-time investment from the German AB Capital Group. AB Capital Group owns a cluster of IT-companies centered around Admitad, a global affiliate network that last year delivered $5B in advertisers’ revenue — largely owed to the US, UK, Germany, France, Poland, Brazil and India. The investment will increase the holding’s share in one of Eastern Europe’s leading cashback service providers.
“The first time we invested in LetyShops was in 2016, after the service’s explosive growth in both active users and sales. We see a great potential in the cashback market in the new regions and are certain that LetyShops will fully discover it.” — AB Capital Group founder Alexander Bachmann believes.
It has been proved many times that cashback as a retailers’ tool, having started off as a simple way of customer acquisition, slowly turned into a multifunctional instrument. Investing in the development of such a cashback website at the moment is entirely justified by the after-pandemic realities when online sales might be the only way for many retailers to survive all over the world. Cashback services have been growing year over year and are expected to continue this trend at least for the next 5 years.
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