Romanian e-commerce platform Blugento is set to receive €1M from the Polish IT Group R22, Romanian SeeNews reports. According to the article the injection will be made by R22 subsidiary H88, a Polish fund that with this investment will acquire 51% of the Blugento share capital.
Reportedly the investment will be done in several phases in the following 12 months. In the very first H88/R22 will acquire 185,610 shares in Blugento, constituting 20% of the share capital.
Founded in 2015 by Stanescu Sergiu Vlad, Babasan Sergiu Lucian and Babasan Sandu in Romania’s Cluj-Napoca, Blugento offers construction and maintenance of online stores based on the Magento platform that offers all the features needed by an online store in a robust, easy-to-use solution.
According to the company info, what makes Blugento different from the free templates or the high cost personalized design, is the customization module that allows its clients to tailor the design and features of their store in a simple yet complete way. The clients can make simple changes to selecting their own brand colors, or they can go deep and even customize every detail of their store.
Almost a year ago, Sandu Babasan the CEO of Blugento, said that he believes that the biggest success so far for him is that he managed to bring Blugento into a leading position in the SaaS e-commerce market and that has launched the platform on foreign markets. In the next ten years he sees himself leading “the largest crowdfunding NGO in Romania”, the Business Magazine reported.
Headquartered in Poznan, Poland, H88 S.A. is one of the leading and fastest growing web hosting and domain registration companies in Central and Eastern Europe (CEE). Between 2016 and 2018, H88 S.A. executed an aggressive growth strategy in Poland by acquiring and integrating six local peers and creating a Top 3 player in its segment. In 2018, H88 S.A. and R22 Group began international expansion and construction of a regional market leader by acquiring three additional companies in Romania and other countries.
R22 Group, on the other hand, is a holding of technological companies pursuing business activities in e-commerce. The group focuses on scalable services offered on the basis of a subscription model and Software as a Service (SaaS). The group is offering hosting services (managed by H88), omnichannel communication services automating electronic communication with the customers (managed by Vercom Group) and telecommunication services (managed by Oxylion Group).
According to the company info the R22 goal is to achieve a leading position over the next three years in the area of hosting in Central and Eastern Europe and to acquire 500 thousand customers by the end of 2020.