The four-year-old Luxembourg startup, which had already raised €200,000 in a previous seed round, today has over 1,000 customers in 70 countries.
The public-private fundraising, which was delayed by a year due to covid-19 pandemic, was finalised with support of private investors, the Luxembourg Business Angel Network and the economy ministry.
“We decided to wait for the best moment for us before raising funds and not raise funds just to raise funds,” said Yollty CEO & founder Alexandros Trepeklis. “We believe in a sustainable growth that will help us grow in the future, both as a team and as a business in a sustainable way. We have been working closely with local businesses, especially in Luxembourg to make sure our solution was easy to use and easy to implement.”
While 50% of the funds raised have aleady been secured, Yollty will need to secure two milestones in order to release the remaining amount.
The team is working on a product to provide user-friendly digital marketing tools to a broader local business base, and it hopes the future funding will allow it to expand internationally and further enhance its offering.