Founded this year and entered the Turkish market last month, e-commerce investment company Opontia announced that it has completed its Series A investment round.
Dubai-based e-commerce investment company Opontia has announced that it has completed its Series A investment round.
Philip Johnston, the founder and co-CEO of Opontia, stated that they have accelerated their activities with the offices they opened in Poland, Turkey, Saudi Arabia and the UAE, which are the four largest e-commerce markets of the Central and Eastern Europe and the Middle East and Africa (CEEMEA) Regions. “We received an investment of $42 million in the Series A investment round.
Our main investor was STV, the largest venture capital fund in the Middle East and Africa. Raed Ventures and Global Founders Capital (GFC), which previously invested in seeds in Opontia, became our investors again. In addition to these equity investments, we also received investment in the form of debt funds from Partners for Growth (PFG).
Salla’s Founder Salman Butt and McKinsey Poland President Wiktor Namysl were among our angel investors. Thanks to our financial soundness, we put growth in new target markets on our agenda.”
20 MORE BRANDS TO BUY
Opontia founder and co-CEO Manfred Meyer, who made a statement about the new investment targets, said, “We have grown into a team of 50 people through our investments in different countries in 6 months. During this period, we bought 4 brands and signed preliminary contracts with 15 brands.
We plan to add at least 30 new brands and double the number of our employees in the next 6 months. We are also working to open offices in Egypt, Nigeria and Pakistan.”
WILL SIGN NEW SUCCESS STORIES
Yaman Alp Ungan, General Manager of Opontia Turkey, stated that they aim to bring entrepreneurs with high potential in the e-commerce sector in Turkey as well as in the world, to the global market. “In our research, we have determined that there are many e-commerce entrepreneurs in Turkey, Eastern Europe, the Middle East and Africa who can reach a certain stage but need support to open up to the global market.
In order to give a good example of our added value to the e-commerce brands we invest in, we bought UAE-based medical product manufacturer Novimed and increased its revenues 4 times and its profits 2 times in a short time. We will achieve similar success stories in Turkey.”
Source: NTV / Translated by Irem Yildiz