Neogen Group, owned by local entrepreneur Calin Fusu, has acquired 20 percent of Frisbo, the first e-fulfillment platform in Romania, following an investment of EUR 500,000, a press release informs.
Following the investment, Frisbo reaches a business valuation of EUR 3 million and aims to expand its logistics network in Romania and beyond, along with exponential growth in customer numbers. According to company representatives, Neogen will additionally acquire shares of approximately EUR 100,000 from the founders.
“In order to integrate more logistics operators and allow online stores to easily access this type of service from the computer, the development of Frisbo apps and the full automation of the entire process is absolutely necessary. That’s why we need to invest in Frisbo’s development,” Bogdan Colceriu, Frisbo founder said.
“Frisbo can become the largest depositor in Europe without owning any deposit,” Neogen director Calin Fusu said in turn.
Although the e-fulfillment industry is at its start in Romania, it’s fastly evolving, supported by the e-commerce development. Frisbo is a complete e-fulfillment solution offering storage, pick & pack, invoicing, call center and AWB. It manages the operational and logistical processes of about 70 businesses in the country, located in cities such as Bucharest, Brasov, Cluj, Timisoara and abroad, from countries like the Netherlands, Switzerland or Bulgaria that sell online in Romania. Currently, Frisbo has warehouses in Brasov, Bucharest, Giurgiu and Cluj.
Established in 2000, Neogen specializes in the development of successful marketplace business in the online area, the most important being BestJobs, Vivre, Clever Taxi, which was sold to the Daimler group and iTaxi.md.
The investment in Frisbo comes shortly after an investment in Conso.ro, a website comparing the prices of loans and other financial services.