eMAG launches the eMAG Ventures investment program for technology companies that bring innovations in products and services addressed directly or indirectly to end customers. In addition to funding, eMAG will provide selected companies with the know-how gained in over 19 years of experience in the most dynamic tech sector of the moment, stimulating the digital economy.
Thus, the selected businesses will benefit from the expertise in business acceleration and international expansion, acquired through the developing of major projects, such as eMAG Marketplace, and companies that have grown rapidly in recent years such as Sameday, Conversion, Fashion Days, Tazz by eMAG or Zitec.
“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 acceleration investments, intended for those companies that can rapidly grow with the help of technology, able to 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.
Companies that can receive investments
One of the defining conditions for eligibility in eMAG Ventures is the use of technology in the development of products and services for the end customer, either directly (B2C) or indirectly (B2B2C). The program is dedicated to companies that already have a functional business model and can demonstrate that they have the maturity to generate a relevant change in the markets in which they operate.
In this context, the passion and vision of entrepreneurs and the team around them will be of particular importance, as they will continue to be part of the companies and develop them.
Tradition in the growth of entrepreneurial companies
eMAG Ventures aims to take advantage of a favorable moment for companies in the technology area. The progress that this sector has made in recent years opens up a number of unique opportunities so far, but which require acceleration investments for entrepreneurs to take their projects to the next level.
“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. Tazz by eMAG is one of the businesses that has registered an exponential evolution through the eMAG investment. Transformed into more than a food delivery application, Tazz will end 2020 with a 700% increase in turnover compared to 2019.
“eMAG came to us three years ago with business expertise, know-how in making a long-term strategy, 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 eMAG investment, we became a company that primarily uses technology to serve the interests of customers”, said Lucian Baltaru, CEO of Sameday Courier. The courier sector became vital this year, when consumption and purchasing habits underwent significant changes, generated by the accelerated adoption of online commerce.
The eMAG Ventures program starts today, and the first investments are expected in the first half of 2021.
To apply to eMAG Ventures, entrepreneurs must complete a pitch deck, in which they will present the companies they run, the current state of the business, the business opportunities in which they want to invest, as well as the benefit to the communities they address. Afterwards, applications can be sent to the email address firstname.lastname@example.org.