Business Irish

Thursday 27 October 2016

Irish-based Coindrum completes €2m round

Published 16/01/2016 | 02:30

Hostelworld founder Tom Kennedy
Hostelworld founder Tom Kennedy

Dublin-based startup Coindrum has raised over $2m from a group of high-profile investors including aviation tycoon Declan Ryan and Hostelworld co-founder Tom Kennedy.

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The business - which provides self-service machines in airports that customers can use to convert unwanted coins into shopping vouchers - is the brainchild of German entrepreneur Lukas Decker. Other participants in the funding round Coindrum's third - include Suretank founder Patrick Joy and CarTrawler chief technology officer Bobby Healy.

"The funding round oversubscribed by 100pc in under four weeks and we are thrilled to partner with the right investors for Coindrum. The funds will allow further pursuit of our aggressive scaling strategy by growing our team as well as expanding the company's global footprint," Mr Decker said.

Irish Independent

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