Business

Méliuz buys startup Promobit in a BRL 13 million deal, its third acquisition of the year

Promobit is a social-commerce platform for sharing discounts and e-commerce promotions with 10.4 million monthly accesses

Méliuz acquires fintech Acesso
Israel Salmen, CEO at Méliuz. Photo: Jonas Fonseca
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  • According to Méliuz, the acquisition represents an important source of qualified and low-cost traffic;
  • Promobit’s revenue in 2020 was BRL 5.2 million; the platform originated BRL 160 million in total GMV;
  • This is the third Méliuz acquisition since its IPO, last November. Last week, it announced the purchase of fintech Acesso and, in February, the purchase of Picodi.

The Brazilian cashback platform Méliuz announced its newest acquisition: the startup Promobit, a social-commerce platform for sharing discounts and e-commerce promotions that has 10.4 million monthly accesses and more than 1 million registered users. Méliuz acquired 100% of Promobit for BRL 13 million, and the sellers shall be entitled to an earnout contingent upon the achievement of financial targets by Promobit.

According to the company, “This acquisition expands Méliuz’s capacity to position itself and be present in more stages in the decision-making funnel for consumers. In addition, it is an important source of qualified and low-cost traffic, reducing new user acquisition cost for Méliuz.”

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The Promobit platform works as a kind of online community in which users recommend products, share offers found on e-commerce and debate whether the promotion is worth it or not. The startup receives commissions paid by retailers for the increase in traffic generated when a link is shared within Promobit.

Promobit’s revenue in 2020 was BRL 5.2 million; the platform originated BRL 160 million in total GMV.

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This is the third Méliuz acquisition since its IPO, last November. Last week, it announced the purchase of fintech Acesso and, in February, the purchase of Picodi, an international e-commerce platform that operates in 44 countries.

Thus, Méliuz advances in its expansion strategy to consolidate itself as an ecosystem that offers much more than cashback and discount coupons – products that popularized the startup -, which includes a more complete financial services portfolio and the internationalization of the cashback platform. Méliuz Investor relations director Luciano Valle told LABS about the platform’s expansion strategy.

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