Romanian logistic startup Frisbo Efulfillment raises EUR 1.2 mln from VC funds

Romanian startup Frisbo Efulfillment, a smart e-fulfillment platform that takes over the storage, processing and delivery of orders for online stores, has raised EUR 1.2 million in a financing round led by GapMinder Venture Partners, with the participation of ROCA X, Ziarul Financiar reported.

The financing resulted in an indirect valuation of the business at about EUR 6 million.

Frisbo has increased its value four times over the last two years, after the initial investments by Mircea Ilea and then Neogen in the spring of 2018, and Risky Business later in the autumn of the same year.

All three shareholders subscribed shares in this new financing round as well.

Last November, after Risky Business joined the shareholders of the company, the ownership structure of Frisbo Efulfillment included Neogen - 20.66%, Risky Business - 2%, Rareș Drăgan - 2.33%, Emil Benga - 11.31%, Rareș Emil Benga - 14.72%, Vasile Mircea Ilea - 14.80%, Laura Ruxandra Frîncu - 3.16%, Tudor Vlad Benga - 14.39%, and Bogdan Colceriu - 16.63%.

Frisbo Efulfillment has been providing storage and order processing services for online stores since 2014. It started its activity in a hall in Brasov, and expanded to Cluj, Ploiești, Otopeni, and Giurgiu.

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