Polish LiveKid acquires its competitor Dinantia
04 July, 2022, 16:11
The Krakow-based childcare platform LiveKid has acquired its Spanish competitor Dinantia. LiveKid has bought all the company’s shares, with an estimated valuation reaching several million złotych, MamStartup writes.
- Founded in 2017 by Jakub Pawelski and Mateusz Kulesza, LiveKid is a platform and an app for connecting parents and childcare workers. It makes childcare management easier. The platform offers options for attendance tracking, absence scheduling, meal selection, and supply of different goods. Parents can also communicate in live chats, receive updates via photos and videos, and pay for childcare services through the platform.
- Since the $2.4 million seed round of funding in 2021, LiveKid has had a 2.5-fold increase in revenue. Over 250,000 people across Europe and South America use LiveKid’s solution monthly. Almost $80 million is made with transactions via the platform annually.
- Dinantia is the company’s biggest competitor in the Hispanic market. It was founded in 2015 and is based in Barcelona. LiveKid carried out the acquisition in the “all-cash” formula, using the funds from the seed round, debt financing, and the participation of the DFRI fund.
“Several factors determined the acquisition of Dinantia: the company’s size, extensive customer base, low churn rate, and the profitability of our competitor. This is the third acquisition we have made in less than two years, closing the transaction in a record five months. Further deals are coming soon,”Jakub Pawelski, founder and CEO of LiveKid, comments on the deal.
- The acquisition will strengthen LiveKid’s position as a leader in the Spanish market. LiveKid will now be available under the Dinantia brand across Spanish-speaking countries, Mexico specifically.