Romanian e-commerce company evoMAG raises €2M from Catalyst Romania
19 September, 2022, 11:07
EvoMAG, one of the biggest marketplaces in Romania, has raised €2 million from Catalyst Romania, a local tech venture capital firm, to support its accelerated development, The Recursive reports.
- Launched in 2005 by Mihai Pătrașcu, evoMag was an IT&C store, but now it is the biggest company in the e-сommerce industry in Romania. The company sells household, home decoration, and garden products, as well as electric vehicles and sports equipment. Also, since 2021 it has been providing a service for electric scooters.
- The fresh round is followed by €200,000 investment raised in January 2022. This time the funding was led by Catalyst Romania. It is a technology-focused venture capital firm that focused on Romanian companies. The fund invests in technology, media, telecom sector, and technology startups.
- The fresh funding will let evoMAG to expand across online markets in Romania and internationally. The company also plans to increase its team to over 100 employees until the end of 2022.