Romanian retailer Footprints raises €500k in a seed round
- Founded in 2017 by Dan Marc Footprints develops a retail media platform that helps physical retailers generate a new high-profit margin revenue in 3 months or less.
- Footprints solution is used by large retailers in Romania, the United Arab Emirates, Serbia, and Bulgaria. Currently, the company is valued at €5 million.
- The fresh round was led by eight private investors, among them are Sandu Babasan, one of the most recognized entrepreneurs in the Romanian online, Florin M. Pop, a member of the Transylvania Angels Network investor group with investments in over 15 startups in various fields, and Lorand Soares Szasz, entrepreneur and specialist in accelerated business development.
“We closed the investment round after 2 months, in which we attracted €500,000, and we reconfirmed, on the one hand, the potential of the Footprints platform, in a global retail media market, estimated to reach, at the end of 2022, revenues of $50 billion, and on the other hand of the retail industry, which, through digitalization, will undergo a radical transformation in the next period. The investment gives us the premises for faster product development and allows us to accelerate the presence of the platform in more markets,”says Dan Marc, founder and CEO of Footprints.
- Footprints will spend the costs to enter into new markets, especially in the United Arab Emirates and the European Union. The funding will also enable the development of the platform and AI algorithms toward improving the predictions of consumer behavior in physical retail.