Letyshops explores further key markets in Europe and LATAM with the mobile partner programmes

Apr 11, 2023 3 min

Letyshops, a business Mitgo invested into back in 2016, continues to grow from its headquarters in Vinnytsia.

Based on the cashback rewards model, the platform allows users to earn cashback on their online purchases, giving their savings an extra boost.

Offering rebates, coupon rewards or discounts in return for online and offline purchases, cashback apps often also utilise point-collection schemes, offering points back on purchases which customers can then redeem for further cash returns or discounts.

Cashback apps have proven wildly popular with users and highly successful for businesses looking to increase customer acquisition and retention.

According to a Growth Market report, the cashback app market was valued at around USD 3.2Bn in 2022. It’s projected to grow to USD 5.7Bn by 2031, expanding at a compound annual growth rate of 6.8% during the period of 2023-2031. This market growth has been attributed to a general rise in cashback, coupon and discount strategies used by brands as a marketing activity for boosting online and offline sales.

Users can now earn cashback from their phones

Founded in Ukraine in May 2014, Letyshops has since grown into an international platform, being listed among the largest cashback partners in Spain, Latin America and Eastern Europe, with a reported total 350,000 users.

The app generated 15 million euros in sales for its partners in 2022 and accounted for 12% of all traffic for cashback services in Spain, one of its key markets. It shows a monthly growth rate of 20%.

A mobile version of the Letyshops app was already released a year ago – and is now open to partner programmes. With this mobile app, users are able to claim cashback on the products they buy through their mobile devices. A partner version of the app is also available, allowing Letyshops store partners to access additional functionality through their phones.

The Letyshops mobile app now joins the Letyshop desktop app and browser extension, offering money-saving cashback opportunities from more than 4000 partner stores, including internationally-renowned brands like Microsoft, Etsy, Adobe, Levi’s and Booking.com.

The Letyshops mobile app – a springboard to new markets

With the app’s release, the business is eyeing up new international markets to expand into, further increasing its reach from the current figure of 20 million+ users worldwide.

We still see a great potential in Ukraine, Poland and Spain, but also in Mexico and Brazil, where users are actively looking to cashback sites as a new way to save money.