As Poslovni Dnevnik/Lucija Spiljak writes, the Czech private equity fund EMMA Capital, which is primarily focused on emerging markets in Central and Southeastern Europe, concluded an investment in the Croatian Bazzar platform, an online shopping platform and Croatia’s counterpart to Amazon, on Tuesday the 3rd of August, 2021.
The amount of the investment remains a secret for now, and as explained by the Croatian Bazzar platform, the Czech EMMA Capital is joining as a new shareholder, while the founders will continue to manage the business and retain significant stakes in the company.
”Based on a joint development plan that will enable the company to benefit significantly from accelerated growth, the revenue will be used to further strengthen Bazzar’s market position here in Croatia, as well as to expand into international markets with a special focus placed on Southeastern Europe. EMMA Capital’s investment in the Croatian Bazzar platform underscores its strategy of focusing on growing companies with the potential for international expansion,” they said from Bazzar.
The Croatian Bazzar platform is under the parent company Prati me d.o.o. (Follow me) launched back in 2015 by brother and sister Viktor and Tana Zimmermann who had previously announced an extensive expansion. Bazzar.hr has also regularly found itself on the prestigious European rankings for tech companies for several years now.
Thus, back in pre-pandemic 2019, the Croatian Bazzar platform was named the fastest growing technology company in all of Croatia according to the Deloitte Fast 50 CE list. In the same year, at Deloitte’s Technology Fast 500, which ranked the 500 fastest growing technology companies in the EMEA region, which includes Europe, the Middle East and Africa, Bazzar ranked 39th, which is the best result of all Croatian companies.
Based on their business results, in 2020, Bazzar remained on the Deloitte list of the fastest growing technology companies in Central Europe and they closed last year with more than 50 million in revenue.
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