Since its launch at the end of 2020, the Carlo shopping app has gone from strength to strength. More than 1,000,000 purchases were made by the app’s 65,000 users last year, creating cause for celebration and commendation among its designers and backers, namely the Monaco Government. 

On 28th March, the Monaco Government and the company behind the Carlo app invited their more than 650 partners, from retail shops and restaurants to opticians and wellness centres, to MonacoTech for a review of the successful implementation of the digital system. 

The Carlo concept is to encourage users, whether they are residents of the Principality, people living near to Monaco or tourists, to shop local by rewarding them with financial incentives, such as cashback and special offers. 

More than 1,000,000 purchases were made via the app in 2023, which has 65,000 registered users. It is estimated that 2,000 people use Carlo each day.  

On top of that, there are now more than 650 local businesses that offer customers the opportunity to use the app when shopping or paying for a variety of services, up from 500 a year ago. 

See more: How to use the Carlo app and what are the benefits?

Among the positive facts and figures, it was also announced at the meeting that the Monaco Government has decided to prolong its financial backing of the app until the end of March 2025. 

This means that, in a bid to continue its support for local businesses, the government will extend its offer to cover the platform fees. Without this assistance, local businesses who feature on the app would otherwise have to pay 1% of the purchases made through Carlo to its developers.  

In a statement released following the meeting, the government said it is “delighted with this collaboration with Carlo and partner traders, which contributes to the economic dynamism of the Principality”. 

The team behind Carlo, which was created by engineer-turned-entrepreneur Antoine Bahri and established itself as a MonacoTech-backed startup, also unveiled the app’s new sponsorship programme.  

New users referred to Carlo by an existing user will instantly receive €5 cashback, while those who recommend the app will earn a special one-off reward.

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Photo credit: Monaco Communications Department / Stéphane Danna