In their second major M&A transaction during the COVID-19 pandemic, Global Savings Group (GSG), Europe’s leading shopping rewards company, has reached an agreement to acquire Shoop, Germany’s leading cashback portal.

The move will aid them in their journey to becoming a European Champion in the shopping rewards space.

Gerhard Trautmann, CEO of GSG, commented: “Following the acquisition of the leading French Cashback Company iGraal in March 2020, GSG’s primary goal is to empower consumers globally in making smarter shopping decisions through our comprehensive portfolio of consumer engagement platforms and solutions.”

Shoop, the Berlin-based loyalty platform founded in 2010, uses its network of more than 2,000 online merchants and top-tier brands to offer customers cash rewards.

According to a 2020 study by the German Institute for Service Quality, the website is the #1 cashback platform in Germany with the highest customer satisfaction rates. Since 2010, the platform’s customers have earned over €100 million in cashback with Shoop.

GSG and Shoop share the vision to create rewarding experiences for customers, empowering them to make the best shopping decisions.

“The deal strengthens GSG’s position as European market leader, building the largest global digital rewards, savings, and shopping content platform,” says Gerhard Trautmann.