The Barcelona-based deals website also added Insight Venture Partners and General Atlantic to its growing list of investors and plans to examine new markets with the funding. The deal highlights the growing popularity of internet discount websites following the strong success of American competitors Groupon and LivingSocial.

Co-founded by Lucas Carné and José Manuel Villanueva last year, Groupalia has six million users in eight mostly Spanish-speaking countries including Argentina, Brazil, Chile, Colombia, Italy, Mexico, Peru and Spain. It offers daily discounts on services including restaurant meals and theatre tickets.

The fundraising follows two funding rounds last year. The business secured $3.24 million in May and $7 million in October last year.

Groupalia president Marcel Rafat comments that the funding will enable the business to consolidate operations in current markets however, possibilities for future growth such as acquisitions are to be analysed.