Polish e-commerce startup fyrtel.market raises €850k from Movens Capital
22 June, 2022, 15:34
fyrtel.market, an e-commerce startup from Poland, has raised an €850,000 investment round led by Movens Capital and CofounderZone with participation from some business angels. The startup’s goal is to make local shopping more convenient, MamStartup reports.
- Founded in 2020 by Michal Logwiniuk and Paweł Głogowski, fyrtel.market is a platform and an app that enables easy online shopping from local retailers. The marketplace connects over 200 local stores in three Polish cities: Poznan, Wroclaw, and Warsaw. It allows placing orders from multiple stores in one cart.
- Movens Capital led the €850,000 seed round. It is a Warsaw-based venture capital firm investing in startups focused on AI, fintech, SaaS, and marketplaces. The fund recently invested in Doctor.One and led the investment for Pixblocks. CofounderZone also participated in the round, joined by several angel investors.
“Fyrtel.market is solving a very important problem in the premium food market. In one application, consumers gain access to their favorite local stores. We appreciate the unique logistics model that enables the company to achieve profitability quickly, despite the low delivery costs for consumers,”Artur Banach, Partner at Movens VC, about the investment.
- Since 2020, fyrtel has grown by 500% year-on-year, generating approximately 50,000 orders so far. According to the company, the marketplace has high customer retention and a sustainable logistics model.
- The fresh funding will allow for further scaling in Poland and abroad. The company plans to start operations in Berlin sometime later.