Elefant.ro plans to raise EUR 2 mln in share issue for launching own marketplace

The shareholders of Elefant Online, the company that operates the online store Elefant.ro, agreed during a General Meeting on November 5 to increase the company's share capital with the equivalent of EUR 2 mln.

Previously, the shareholders decided to make a private placement of bonds denominated in local currency, an operation that will take place in the next period and will be intermediated by brokerage house Tradeville.

The money raised through both operations will be used for the launch of its own marketplace.

"The amounts attracted during the capital increase and the new bond issue will ensure the necessary capital to achieve our growth objectives. On the one hand, we will focus on the operational efficiency of the existing business. On the other hand, we will invest resources in Elephant Marketplace. It is technically complete and will be released soon. We will invest in its development, in the promotion and the consolidation of the relations with the partners in the marketplace," said Sergiu Chircă, CEO of Elefant.ro.

(Photo source: the company)