As exclusively revealed on StartUpMania earlier this year, Miki Balin’s WinBuyer has raised a venture capital investment from Giza Venture and Pitango Ventures.
According to a just-published press release, WinBuyer, which operates out of Tel Aviv and employs about 20 employees, has raised roughly $7 million.
With the completion of the fund raising round, the company’s board is joined by Issac Hillel of Pitango and Giza’s Ori Israeli.
The company, which operated an income model based on advanced models of affiliate marketing, offers e-commerce web sites to incorporate links to outside vendors who sell similar or identical products, and receive a commission on the sale performed at the other website.
With WinBuyer’s technology a website which sells photography equipment can present its customers with links to other website which offer a specific camera a user is looking for, which isn’t offered or is out of stock on their website. Should the customer buy the camera from the linked website, the original website’s owner will earn the affiliate-commission that linked website pays for sending the customer to them, rather than a different site.
Unlike standard affiliate programs, where any website can sign up, WinBuyer manages all the “behind the curtain” work against the linked websites. It is also the one in charge of charging the commissions from the website where the purchase is made, and shares the profit with the original page that directed the customer.
Several months ago WinBuyer was joined by Eyal Keren, former VP of business development for Pudding Media and A9.Com.
Translated by Itai Rosenbaum
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