Lucky Cart, the inventor of Promogaming®, is raising 1.6 Million Euros to develop internationally
Lucky Cart is announcing the closing of a 1.6 million euros first round of capital raised from Partech Ventures, Kima Ventures, Pleiades Venture, Fa Diese, as well as from the Alternative Investment Directorate of the Edenred group, and conducted by the Linkers Business Bank. As the inventor of Promogaming®, Lucky Cart aims to double its wor kforce in 2015 to develop internationally. The company intends to increase its turnover fivefold by 2016.
Lucky Cart revolutionizes promotion!
During a trip to China, Cyril Marchal, the future founder of Lucky Cart, discovered the ingenious method of the Chinese state to fight against tax fraud: match a lottery ticket to each commercial transaction to encourage consumers to systematically request invoices.
When he returned, he discovered that European law had just evolved and finally authorized games with obligations to purchase. With Bouzhiane Taleb, the co-founder and COO of Lucky Cart, he decided to finance a Médiamétrie study which confirmed their intuition: a large majority of consumers preferred being given a chance to win a refund of their purchase rather than being
given a guaranteed discount.
Lucky Cart was born!
E-retailers can now rely on a new marketing tool which allows them to give their clients a chance to win the order they have just made. Depending on the contents of the cart, a customized lottery appears on the order confirmation page, and the customer can immediately play to discover if he/she has won. “We immediately fell in love with Lucky Cart, this company with a deep sense for sales that is so lacking in many French startups. We were immediately seduced by the product and its potential: sales and other discount coupons have not evolved in 30 years. It was the time; the time for big data and automatic profiling to bring a small revolution to merchants and their clients in orderto better target and measure the discounts granted, while increasing sales figures. This is the promise of Promogaming®, which combines big data, game theory, targeting, and automatic (re)marketing”, declares Romain Lavault, General Partner with Partech Ventures.
“Integrating the solution is free. Lucky Cart takes responsibility for the entire campaign, from game design to earnings transfer. We earn our funds through performance, that is to say, through the volume of business generated by the e-retailer. And our customers can even spend up to 20% less than with a traditional remittance, while increasing their sales by 15 to 25%!” explains Cyril Marchal, the founder of Lucky Cart.
“The growing world of e-commerce is becoming increasingly competitive. The future belong to those who will be able to optimize traffic generation and conversion rate using differentiating, creative, and inclusive methods. Lucky Cart provides a simple and effective tool that addresses this need. Its quick success confirms the value of its concept and its teams. If we are investing in Lucky Cart, it is because we believe that in five years Lucky Cart will be a key global player in worldwide commercial website promotion”, explained Jean-Paul Villot, the representative of Fa Dièse at the Lucky Cart board.
This fundraising is designed to meet 3 strategic objectives
In 2015, Lucky Cart will concentrate its efforts on:
1. Strengthening its teams
To achieve its growth objectives, Lucky Cart will double its workforce by the end of the year. A dozen new hires are planned in order to expand the technical, sales, and marketing teams.
2. International markets
The company plans to expand its international business activities, beginning with the United Kingdom and Germany, then into all coun tries in which games with obligations to purchase
3. Developing a SaaS application
Lucky Cart is currently working to develop a SaaS (Software As A Service) platform which will allow e-retailers to create, configure, and monitor the performances of their Promogaming® campaigns.
The investors who have joined us help us be in the best position to achieve the goals which we have set. Their perfect knowledge of growth issues, as well as their international networks, will allow us to grow much faster than we would have been able to alone. On a market in which we benefit from being first mover, it seemed essential for us to raise funding to win our bet, which is to change
the way in which retailers use discounts », stated Bouzhiane Taleb, the Co-founder and COO of Lucky Cart.
“The range of applications and possible developments of the technology are fast and impact the entire conversion funnel. The market response is also incredible, consumers wholeheartedly get hooked to the game in all retailers that offer it! » concludes Romain Lavault, General Partner at Partech Ventures.