Coubonga, the fast-growing Finnish startup behind a gamified mobile coupon app, has secured 275 000 euros from angels. The round includes experienced FiBAN angel investors as well as Innovestor’s Angel Cofund.
Founded in Oulu in January 2023 and launched in early 2024, Coubonga has already surpassed 100 000 app downloads and is becoming a rising player in consumer engagement and mobile commerce.
The Tinder of Coupons
The idea for Coubonga was born four years ago, and it started with a simple thought: what if there was a Tinder for coupons?
“My co-founder Daniel, and I were both single and using Tinder. One night, he sent me a long voice message reflecting on how intense mobile apps are, and he happened to have Kotipizza coupons at home. He joked, “What if people could ‘Coubong’? We started developing an idea for a gamified platform for coupons,” Coubonga’s CEO and co-founder, Aapi Sotaniemi, shares.
Helpful angels and speedy traction growth
Before writing any code, Coubonga validated the idea directly with businesses.
“We contacted companies to see if they were interested. About half of the companies in our free trials converted into paying customers,” Sotaniemi says.
The current round included Innovestor’s Angel Cofund and FiBAN angels such as Juha Miettinen, Antti Tarakkamäki, Ilkka Kaikuvuo, Antti Pelkonen and 5 others.
“Angels are generally very willing to guide and help, even if they don’t end up investing,” Sotaniemi describes.
Thanks to investors and resilient founders, Coubonga has grown with great speed.” Coubonga has now surpassed 100 000 users, and revenue has grown from launch to almost 200 000 euros this year,” he adds.
“The funding round has allowed us to hire more sales staff and build an IT team to ensure the scalability of the product, especially with international markets in mind. We are now investing heavily in product development,” he says.
Lessons from the fundraising journey
For first-timers, it may come as a surprise how much time and energy fundraising takes. It’s not something to do on the spur of the moment – It needs preparation, strategy, structure, and time. “As a founder, I led the negotiations myself, although I received support from our lead angel. The round was mentally exhausting, but highly educational. Everything else in the company continues at the same time, and there is a lot of uncertainty.”
He recommends a clear division within the team regarding key tasks during fundraising. “Have one person responsible for the funding round while the others keep the business running. Take care of yourself and know that your days won’t be classic 8–4 days. Learn and know your numbers – I didn’t at the beginning of the round.”
“Most answers will be no. That’s normal, and it’s important to know that it shouldn’t be thought of as final. Many investors who first said no to us, later said yes,” he adds.
Future vision and the 350,000 euro fundraising target
The company will begin its first pilots outside of Finland soon.
“Within five years, we want to be operating in major European countries and ultimately in the U.S., the promised land of coupons.”
Coubonga has raised €275,000 toward its €350,000 target and is continuing to seek additional angel investors. If you’re interested in hearing more about Coubonga, contact Coubonga’s Aapi Sotaniemi for more information: aapi@coubonga.com tel. +358413143027
What is Coubonga?
- Founded: 2023, app launched: 2024
- Founders: Aapi Sotaniemi, Aleksi Vallineva, Daniel Agava, Joonas Puurunen
- Users: 100,000+
- Business: Gamified mobile coupon platform
- Funding: 275 000 raised and now raising 350 000 euros