A year after our original pre-seed investment, Pockee currently provides coupons of 225 euro in value for 40 FMCG brands in the majority of grocery stores around Greece. Along with its off-the-charts retention rates, it was a straightforward decision for us to proceed with a €400k seed round.
Bringing in 11 supermarket chains and that many brands within such a short timeframe had nothing to do with luck. Pockee has managed to simplify integration and onboarding for retailers and brands alike at a level that is unheard of in the industry, while eliminating fraud. At the same time, it provides an intuitive, easy-to-use app that has gained the trust of users beyond early adopters.
A few weeks after executing the seed round, the company has announced a partnership with Cosmote, the largest operator in Greece, as well as with P&G, bringing in coupons that cover most of the FMCG product categories.
In its quest to become the greatest grocery shopping utility, Pockee is still in its early days. Starting from an app that actually saves you real money while being fun to use, the team is hard at work building the next generation of what we used to call coupons. What’s more, the local market is not an end in itself, but rather a test bed. In Openfund, we are happy to continue being part of this journey; you’d better stay tuned for the updates.