GoWit secures USD $1.3 million for expansion into Europe & MENA

GoWit has announced that it has secured a USD $1.3 million investment to aid its expansion into Europe and the MENA region, aiming to enhance its retail media integration process. This funding round includes contributions from Formus Capital, APY Ventures, Mindvest, and new investor DCP.

Based in Delaware, USA, GoWit offers digital and physical advertising spaces to brands through marketplaces and retailers, such as the retail giant Kingfisher. Brands like Nespresso and Reckitt have reported increased awareness, higher advertising conversions, and enhanced sales through GoWit's diverse advertising formats displayed across various channels, including onsite, off-site, and in-store.

This funding follows a USD $1 million investment announced last year, which facilitated the company's growth in teams across the UK, France, the Netherlands, and the Middle East. The GoWit platform is designed to cater to a wide range of industries, including fashion, electronics, supermarket chains, and online grocers.

Emrah Adsan, co-founder and CEO of GoWit, highlighted the ease of integrating their retail media platform into existing systems. "Generally, retailers and marketplaces face difficulty integrating retail media platforms into their existing systems. With GoWit, the integration will soon take as little as 15 minutes, allowing them to set up their advertising campaigns with a completely self-service solution and start earning instant revenue from their retail media ads. Our latest investment will enhance our product development and support our ambitious growth plans in central Europe, the MENA region, and North America. Our goal is to demonstrate to all retailers that they can set up advertising campaigns and generate revenue without additional fees or complex integration processes," said Adsan.

The new funding will be utilised to develop further product features and support the company's growth strategies. GoWit's platform leverages first-party data insights to offer precise targeting capabilities. It provides advanced functionalities such as real-time reporting, AI-powered auto bidding, closed-loop attribution, and various sponsored ad formats.

Burak Karahasan, Principal at Formus Capital, commented on the investment, stating, "GoWit's robust platform and advanced technology have already earned the trust of notable customers in MENA and SEA. Their new self-service capabilities will enable seamless global expansion with minimal localised support. Retail media strategies can greatly increase revenue and profitability for marketplaces and multi-brand retailers. Emrah, Seref, and Enes's expertise and passion for this space leave us confident that GoWit is on track to become a leading player in this expanding field."

Yasemin Glle, Digital Channels Manager at Kota, a joint venture of Kingfisher, praised the partnership with GoWit. "As a leading home improvement company with over 350 stores nationwide, we prioritise seamless online-to-offline advertising experiences. Our strategic Retail Media partnership with GoWit is crucial in achieving this goal. Onsite ads help us effectively highlight products, capture attention, and drive conversions. Offsite ads significantly expand our reach across diverse touchpoints," mentioned Glle.

GoWit's platform, with its modular features and customisation options, provides a versatile media platform catering to the needs of retailers of varying sizes. It continues to grow its collaborations with retailers and marketplaces globally, including Teknosa, Beymen, Modanisa, Kota, Toters, and Mumzworld, among others. The company aims to reinforce its leadership and competitiveness in the retail media sector through continuous innovation and strategic partnerships.