There are many features within the eCommerce ecosystem that make it increasingly attractive for consumers to shop online. The convenience of buying at any time and quickly, the possibility of receiving the products at home and, of course, the diversity of discounts that are usually found on these platforms.
This last point is very interesting for buyers, since it allows them to generate savings on their purchases. However, finding the right coupons on the internet can be difficult and even annoying. In response to this situation was born one dedicated to offering a fast and efficient way for consumers to find and apply discounts to their purchases.
Qoala, a Chrome extension with which to save money
Qoala was born in 2019 after the frustrating search for its CEO and co-founder, Raphael Rubio, a coupon to apply to your Christmas purchases; which ended up being unsuccessful and led him to give up the purchase. Building on this experience, Rubio saw a need in the market for a service that offered consumers coupon management assistance. In other words, it will help to optimize the search, validation and final application of the discounts that could be found on the internet to a purchase.
In this way, buyers could present a more comfortable and frictionless shopping experience, along with saving some money on your purchases. In the same way, stores would have the opportunity to expand the scope of your offerings and achieve higher conversions through this dynamic.
Thus, Qoala was born as a Chrome extension, which has now become an App, which works with a ACT (Automatic Coupon Trial), or automatic coupon test. This implies that the Qoala extension test and automatically apply the best discounts and coupons that can be found for a given purchase. Taking into account the store where the purchase is made, the products to be purchased and other factors that may affect the use of coupons.
A value proposition that guarantees consumer profit and promotes environmental awareness
The Qoala service also has a Price Alert, which allows consumers to monitor their favorite items and know when they are on sale. This allows your more than 150,000 active buyers can save approximately €88.62 per month. Likewise, it also has a proposal to offset the carbon footprint left by purchases made together with its service. This consists of planting trees to offset carbon emissions related to purchasing processes, with which they have managed to plant more than 88,000 trees.
On the other hand, Qoala operates under a business model based on affiliate marketingso it generates commissions for the sales attributed in each of the more than 3,000 associated stores. At this point also lies the value proposition of the startup; because it not only offers coupons and discounts, but also share these earned commissions with your users. With this, consumers can generate greater savings by receiving a percentage of the amount of your purchase in the form of qoins, a currency of the app. Once 2000 Qoins have been reached, buyers will be able to make a cash-out for a total of €20.
A startup with a future of internationalization
Qoala began with an investment of €5,000 financed by its two founders, and although they have not yet shed any light on its finances, we know that it has already gone through two rounds of financing.The first of these rounds was led by an investor who “has believed from the outset in the great potential of Qoala”, according to Rubio, for which he contributed €50,000.
The second, although it was a little more complex to carry out because it occurred just at the critical moment of the Covid-19 health crisis, achieved great results. In this round, which was carried out on the crowdfunding platform startupxplore, Qoala managed to get €415,000, achieving 180% of its estimated amount of €150,000.
In the same way, he is currently in the middle of a , in which they have already exceeded their goal of €500,000, achieving more than €640,000 so far. This through the personal investment of users, who can acquire a stake in the startup, at a share price of €14.08.
With these various investments, Qoala has managed to solidify its business as a pioneer in this sector in Spain. In addition, it has also positioned itself as the leading extension in terms of users and partners. This being a starting point to promote its expansion within the European territory, in addition to testing new horizons in the Latin American market.
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