KupiMe Group, owner and operator of a collection of popular online retail entities in Slovenia, Croatia and Serbia, has bagged a considerable round of financing from PE investment firm iEurope Capital. The investment is intended to provide a strong platform for KupiMe’s growth moving forward. The group offers a service similar to that of Groupon; based on the power of social media to attract customers, the model allows customers access to huge discounts that are provided by retail brands that use the platform to aggressively market their products and services. The EUR 3 mln funding is at the upper end of iEurope’s typical investment range, and will entail an exchange of majority stake for the investment.
iEurope Capital (www.ieurope.com)
iEurope Capital primarily focuses on small and medium businesses in Central and Eastern Europe. Based out of Budapest, iEurope Capital targets market leaders who offer their own unique brands of products and services to clients over the internet. The company also aims to be a bridge between CEE-centric companies and the more extensive global market. The investment and follow-through processes typically chart a set pattern of evaluation, negotiation, due diligence, transaction documentation, business building and exit options, the last of which are always discussed prior to any investment. Recent exits from portfolio companies under iEurope Capital’s umbrella include ATech, a Slovenian electronics assemblies manufacturer, and Vatera, Hungary’s premier online ecommerce and auction site fashioned after eBay.
KupiMe is a Groupon copycat business that has designed itself after the popular deep-discounting website. The site negotiates with popular business and retail brands that are location-specific and promotes these to users of the site, who may then help promote these businesses and services to their social media circles. The model has been extremely effective in the past, and this tropicalized model for the Southeastern European nations of Slovenia, Croatia and Serbia is following suit. Offering a wide range of products and services, the site specialized in Beauty and Health, Sports and Recreation, Food and Beverage, and entertainment, with travel and education also featuring on their offerings list. The company is headed by founder Vanja Sertic.