Frisbo the first e-fulfillment and warehouse platform that offers storage, order processing, invoicing, packing, delivery and administration solutions for online sellers raised 1.2 million euros investment in a new financing round led by GapMinder Venture Partners with the participation of technology investment fund ROCA X, Romanian news site start-up.ro reported.
With this investment Frisbo has quadrupled its market value in the last two years reaching a valuation of 6 million euros.
The first round of investment of 250.000 euros was made in 2017 by Cluj Investor Mircea Ilea, and the next followed in May 2018 made by Romanian Neogen Group investing 100.000 euros.
As announced, this Romanian startup will use the funds to develop a self-service product level for retailers and to expand operationally by adding new halls to the portfolio.
“Contrary to the initial intuition, we are not looking for expensive purchases, rentals or new halls, but we want to reactivate existing unused spaces and incorporate them into the Frisbo system in order to facilitate retailers’ access to a more competitive resource of fulfillment,” Frisbo founder Bogdan Colceriu said, start-up.ro reported.
Founded in 2014 in Brasov, Romania by Bogdan Colceriu, Frisbo’s vision is the development at both, European and global level, providing a new standard of distributed, algorithmic processing of orders, contributing to the improvement of the e-commerce market by supporting retailers and the experience of buyers, with a positive impact on the storage and transport infrastructure.
As announced by the leading investor, GapMinder, Frisbo is already changing the face of compliance in Europe.
“Frisbo can change the face of compliance at least at European level. Their model solves many problems of traditional fulfillment, the main one being the simultaneous coverage of several markets for online stores,” says Cosmin Ochișor, a partner at GapMinder Venture Partners, start-up.ro announced.
“For ROCA X, the investment in Frisbo is the largest so far. We believe a lot in the product developed by the company, from many points of view: it is an innovative, ambitious and future-proof solution. Moreover, the potential for immediate scaling up at the European level is high. ROCA X relies on identifying opportunities and companies that can have a real impact in sizing the future and the way business looks tomorrow, ” says Alexandru Savin, ROCA X Investment manager, reads the announcement of start-up.ro.
To date the platform operates halls in Romania, Hungary, Slovakia and Poland, from where it also served German customers. Bitdefender, Meli Melo and Foodpanda are just a few of the many renowned customers that Frisbo already has.