Low-cost event discovery app Frugl has acquired Tickethelden, a Munich-based last minute ticket selling platform.
Frugl has said the move will help them tap into the German market quickly and give it access to Tickethelden’s 100k user base, mostly spread across Berlin, Cologne, Hamburg and Munich.
Suzanna Noble, founder of Frugl, says the startup had been looking for the right opportunity to expand into Germany and the purchase of Tickethelden was “too great to resist”.
Self-funded success so far
Frugl, an app that shows users low cost and free events in London, has thus far been self-funded. Noble was able to confirm that the acquisition was also self-funded but was unable to disclose the value of the deal.
Final negotiations took place at last week’s European Pirate Summit in Cologne, and the deal was signed shortly thereafter.
Noble plans to launch Frugl in Germany within three months and added that Frugl will soon be raising a seed round having had interest from a number of investors.
In May, Frugl was featured by Tech City News as a Download of the Week.