August 17 (SeeNews) - Romanian online retailer evoMAG said on Wednesday it has attracted a 2 million euro ($2.02 milliom) investment from venture capital fund Catalyst Romania and plans to hire 100 by the end of the year, in an effort to support the accelerated development of the company.
The investment will support evoMAG's expansion on the online markets in Romania and internationally, the retailer said in a press release.
evoMAG aims to be present on as many relevant marketplace platforms as possible, to accelerate offline development through the inauguration of two new showrooms in the next two years, as well as to double its product portfolio in the next three years.
"The capital infusion will allow us to take evoMAG to a new level of development, both on the Romanian market, online and offline, but also outside the country," evoMAG CEO Mihai Patrascu said.
evoMAG aims to increase the team to over 100 employees by the end of the year in order to be able to double its product portfolio and rreduce the delivery time of orders.
The company is counting on a turnover of around 40 million euro in 2022, estimating sales peaks in mobile phones, TVs, PC components and electric vehicles segments.
Earlier this year, the retailer announced its partnership with courier service Bringo to provide 60-90 minute deliveries.
Founded in 2005, evoMAG sells IT&C products, household appliances, sport fitness items including scooters and accessories for scooters as well as home and garden products. Its online store is visited daily by over 60,000 people.
($=0.9866 euro)