The social capital of Elefant Online SA, which owns and operates the online store elefant.ro, recently increased by EUR 2 million, according to a decision taken in the general shareholders’ meeting.
The capital increase was unanimously decided and confirms the shareholders’ trust in elefant.ro’s business model, as well as in the business plans the management team has for the following year.
“The capital injection will be 100 percent cash and the funds will enter the company’s funds by the end of this month,” said Sergiu Chirica, elefant.ro CEO.
Elefant.ro is one of the largest online retailers in Romania, offering a wide range of products to more than 1.5 million clients, through delivery or through its 25 collection points in Bucharest and across the country. Fonded in 2010, Elefant has expanded outside the country by opening a branch in Chisinau, Moldova, as well as the online store elefant.md.