EMMA Capital Group, an investment holding focused on the emerging markets of Central and Southeast Europe, has completed a growth equity investment in Bazzar Zagreb, a technology company operating an e-commerce marketplace in Southeast Europe.
Online retail has been relatively slow to develop in the region compared to western and northern Europe but there are a growing number of e-commerce platforms in the region that have achieved success in their local markets and in some cases in neighbouring countries as well.
The transaction was signed and closed in Zagreb on August 3, EMMA said on its website. EMMA joins the company via growth equity financing and emerges as a new shareholder while the founding shareholders will continue to manage the business and retain significant stakes in the company.
Based on a shared development plan, which will allow the company to significantly benefit from accelerated growth, the proceeds will be used to further strengthen Bazzar’s market position in Croatia, as well as to expand onto international markets with a particular emphasis on Southeast Europe, the press release said.
Bazzar operates an e-commerce marketplace for lifestyle consumer brands, which EMMA says is one of the best performing of its kind in the region. Bazzar offers a wide range of products, combining lifestyle and FMCG products with more than 200,000 listed products and over 750,000 unique visitors per month.
With several hundred thousand registered customers, over 700 committed merchants, and an in-house tailor-made technology, Bazzar is expected to become one among region's forerunners of the growing digital economy development, EMMA said.