July the 27th, 2023 – The Croatian platform Flaster is expanding its reach to new markets. It is also expecting increased levels of interest from investment funds.
As Poslovni Dnevnik/Marija Crnjak writes, the innovative Croatian platform Flaster, for mobile measurable advertising, is now expanding to new markets and plans to be present in all European Union countries within 5 years. On top of that impressive feat, investment funds have also shown increased interest in investing in Flaster in the next cycle, Flaster co-founder Filip Carić revealed recently.
This startup was only launched in 2021
This startup was initially launched in 2021 and is the first and so far entirely unique media company specialising in measurable outdoor mobile advertising in the European Union.
The Croatian platform Flaster started out with branded taxi vehicles, and their currently plan is to expand to other mobile targets, as well as to other EU countries. After Croatia and neighbouring Slovenia, this spring, they started expanding into the market of Bosnia and Herzegovina, followed by the Czech Republic, Slovakia, Poland, and other countries located within Central and Eastern Europe.
Expansion plans are heading in two directions
“We started out with taxis because we saw that we could provide a multi-channel experience to passengers and provide companies with a simple way to rent media. We then quickly recognised that there are many other types of mobile advertising spaces that could be used in the same way. Furthermore, we plan to expand in two directions, the first goal is to strengthen the teams we have in these countries where we already operate, and then to expand to foreign markets, where the plan is to be present in all EU countries in 5 years.
After that, we want to become a leader in mobile advertising, where we would develop a platform where we would enable various types of mobile surfaces to become a medium for advertising,” explained Filip Carić.
200 active vehicles in 12 cities in 3 nations
At the moment, the Croatian platform Flaster has over 200 active vehicles in 12 cities in three countries and over 500 registered drivers in their database who are waiting for an opportunity for their advertisement. So far, the drivers’ reactions have been very positive, because Flaster provides them with a direct source of simple passive income.
Advertisers have a strong interest as well, as evidenced by the figures showing a 150 percent increase in revenue so far compared to the whole of last year, with advertisers not only extending their contracts, but increasing their budgets and the number of cities.
This time last year, the Croatian platform Flaster was present in a total of five cities, meaning that growth has been exponential. Carić noted that they are not afraid of rapid growth, because the entire model is set up so that opening new markets will be easy.
The hunt for acquisitions
“There is an offer, in this current model it is taxis and ride-share vehicles, and we also have clients who are regional and who have the possibility to transfer the activation of cooperation to new markets. In addition to that, at this moment in time, we’ve already started talking to various investment funds that have an interest in getting involved in our unfolding story,” Carić concluded.