Capital D announces its investment in Refinery89, an innovative AdTech company focused on optimizing advertising revenue for digital publishers in Europe and LATAM.

Target Company Overview

Refinery89 is a dynamic and rapidly growing AdTech firm focused on optimizing advertising revenue for digital publishers across Europe and Latin America (LATAM). The company distinguishes itself by providing straightforward monetization solutions, allowing publishers to move away from generic alternatives, thus delivering superior service and unlocking additional revenue streams.

Operating in a large and expanding market, Refinery89 is positioned as a disruptor. The combined annual valuation of its primary markets in Europe and LATAM is approximately €3.3 billion, and with aspirations to expand into in-app monetization and additional geographies, its total market potential approaches €20 billion.

Industry Overview

The advertising technology sector is undergoing significant transformation, driven by the rising demand for personalized and targeted marketing solutions among digital publishe

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Capital D

invested in

Refinery89

in 2025

in a Other VC deal

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