Mycitydeal (now operating as Citydeal in Germany) runs a daily-deals website that replicates Groupon’s model: one heavily discounted deal each day that only activates if enough people sign up, delivered as vouchers. The company was originally backed by Germany’s Samwer brothers. It has secured €4 million in a first round of funding to support expansion. The new capital will be used primarily to expand into the UK, where Mycitydeal already has a .co.uk site (currently placeholder content) and a London office. The backing comes from investors including Holtzbrinck Ventures, eVenture Capital Partners, and Rocket Internet, among others. The company is entering a crowded UK market that already includes Groupon’s London offering and at least five local competitors pursuing the same model.

Total raised

$6M

Funding rounds

1

Latest round

Equity

Latest activity

Jan 2010