CheckoutSmart has acquired Germany’s market-leading mobile shopping reward company scondoo, in a deal that will cement the British tech firm’s position as Europe’s top money-saving app for grocery.

The London-based fast-growth cashback company, which already boasts more than a million accounts in the UK, says the acquisition will give it access to more than 100 million potential new customers, as Europe’s appetite for supermarket saving solutions continues to grow yearon- year.

It will also allow the firm to benefit from Berlin-based scondoo’s extended functionality, including its dynamic availability tool, user generated content (UGC) and personalised, contextual campaigns.

Scondoo’s strong roster of German FMCG partners will also complement CheckoutSmart’s already-impressive list of top tier UK clients.

Paul Lees, MD of CheckoutSmart, said: “This is an incredibly exciting development which cements CheckoutSmart’s position as Europe’s leading digital grocery cashback solution.

“Scondoo is the number one player in Germany. CheckoutSmart is the number one player in the UK. Together, we are now Europe’s largest grocery cashback platform with the kind of pan-European reach that our FMCG clients crave.

“Acquiring scondoo also opens up the option to incorporate elements of their user engagement platform – features such as its clickto- reveal-offer model and dynamic location redemption functionality really interested us.

“As a consequence of our extended European reach, we’ll be able to work with our clients to generate tons more unique offers for our members.”

Nikolaus Hilgenfeldt, CEO and founder of scondoo, said: “We’re thrilled to be transforming the FMCG industry even faster by joining forces with CheckoutSmart to become Europe’s number one.”

The deal follows news that CheckoutSmart’s money-back deals for grocery have been embedded into online shopping aggregator, the UK’s fourth-biggest online shopping site.

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