eMag has launched eMag Ventures, an investment pool that will help tech companies develop their innovating products and services.
eMag Ventures was launched on December 10 and the first investments will be made in the first half of 2021.
The businesses selected by eMag Ventures will benefit from both professional advice and acceleration expertise in order to reach a national and international reach.
„In the entrepreneurial environment in Romania there are many technology projects with great potential, which can be developed with financing and know-how. Through eMAG Ventures we want to create real added value and contribute to a rapid scaling of businesses, thus producing a visible impact in the digital economy. We are talking about accelerating investments, intended for those companies that can grow rapidly with the help of technology and that can become the future unicorns. We want to finance companies with ambition and vision, which will contribute to the growth of the entrepreneurial ecosystem in Romania ", said Bogdan Axinia, Managing Director of eMAG Ventures.
Who is eligible for getting into the program?
For companies and businesses that want to be eligible for the program, they would have to develop products and services intended for the final customer: directly (B2C) or indirectly (B2B2C). The program is mainly suitable for companies that already have a business infrastructure and they have already established themselves as mature businesses that want to make an impact on the local (or global) market.
How to apply?
To apply to eMAG Ventures, entrepreneurs have to complete a pitch where:
- They will present the companies they run.
- The current state of the business.
- The business opportunities in which they want to invest.
- The benefits to the markets they address.
Applications can be subsequently sent to the email address firstname.lastname@example.org.
eMag has been already helping other companies getting traction
eMag has already helped a lot of companies gaining traction and new customers. Sameday, Conversion, Tazz by eMag, Fashion Days and Zitec are just some of the companies that have gained a lot of traction in the past few years so it was only natural that eMag Ventures would be founded.
Tazz by eMag saw a huge increase in sales and popularity following the investment made by eMag in the company. Compared to 2019, Tazz will end 2020 with a 700% increase in turnover.
“The know-how that eMAG brought to Tazz helped us develop unique partnerships in the market, which differentiates us. We have a goal - to deliver almost anything to customers quickly, but such a strong promise requires investment to support it. The help that eMAG offered us in the area of technology, operations, HR, finance and marketing was essential in the growth of Tazz, whose evolution exceeds our expectations every month.", said Alin Șerban, CEO of Tazz by eMAG.
The pandemic saw a huge increase in the need of delivery services and Sameday, another company that has made an investment with eMag, is another story of success.
"EMAG came to us three years ago with business expertise, to make a long-term strategy, to make estimates and forecasts, as well as with a tech approach that took us to the next level. Basically, we decided to rewrite all our applications and created a technological base on which we can build further. If until now we were a courier company that accidentally used technology, after the investment of eMAG, we became a company that primarily uses technology to serve the interests of customers ", said Lucian Baltaru, CEO of Sameday Courier.
What do you think about this new investment pool?
Do you think other companies will emerge?
Do you have a company that needs a push? Maybe you should try it out.