Romanian affiliated marketing platform 2Parale gets new financing for regional expansion

The 2Parale affiliated marketing platform received a EUR 250,000 round of investments in early-May. The company that owns 2Parale brand, which is called 2Performant Network, will use the money to consolidate the business in Romania, and to launch the 2Performant platform in Bulgaria. Romanian entrepreneur Dorin Boerescu coordinates the company. Following this investment, a group of private investors led by Romanian entrepreneur Dragos Rosca holds a 12.5% stake in 2Performant S.A., reads a statement of the company. Current shareholder Radu Atanasiu also took part in this round of investments. The transaction, which values the company at some EUR 2 million, was intermediated by local law firm Biris Goran, which also organizes the VentureConnect start-up financing events. 2Performant Network had a turnover of EUR 1.54 million in 2014, some 40% higher than in 2013, and a net profit of some EUR 25,000, according to public data from the Finance Ministry. Dorin Boerescu, CEO 2Performant Network, remains the largest shareholder with a stake of 46.35%. The other shareholders are 2Parale Online S.R.L. (16.65%) – the business’ founders, a group of investors led by Sergiu Negut (18.02%), and a team of seniors within the company, consisting of Andreea Cimpoesu, Bogdan Aron, Cristian Ignat, Vlad Stanila si Alexandru Lupu. 2Performant Network S.A. will use part of the money to increase its local team by 50%, to acquire performance marketing tools, and to develop new functions for affiliate marketing platform 2Parale.ro. Moreover, 2Leva.bg, the company’s brand in Bulgaria, will become 2Performant.com. This platform has a new user interface and a different payment model but is based on the same technology as 2Leva and 2Parale. The company also plans to expand to Poland by the end of the year. On a long term, 2Performant Network S.A. targets other markets in the region, such as the Czech Republic, Hungary, Croatia, Slovenia, and Slovakia. In early-April, before this round of investments, 2Parale changed its legal form and became a joint stock company named 2Perfomant Network S.A. Three Romanians get UK financing for photo-sharing app Romanian Internet of Things startup gets financing from Deutsche Telekom hub in Poland Romanian social games developer gets private equity financing Seven new Romanian companies look for financing on alternative share platform Romanian tech company gets USD 2 mln financing for mobile application in Mexico