Internet entrepreneur buys 20% of Romanian e-fulfillment company

Romanian group Neogen, owned by Calin Fusu – one of the first online entrepreneurs in Romania, bought a 20% stake in local e-fulfillment company Frisbo. The transaction values Frisbo at EUR 3 million. Neogen paid EUR 100,000 to Frisbo shareholders for a stake in the company and will invest another EUR 500,000 in developing the company, Fusu said. The investment will go into software development, process automation and business scaling, according to Frisbo founder Bogdan Colceriu. Frisbo provides services for companies that run online stores or sell their products online, which include processing online orders and managing the inventory, among others. Last year, the compeny received a EUR 250,000 financing from Mircea Ilea, an investor from Cluj-Napoca, a deal that valued the company at EUR 1.5 million. Neogen is one of the first online groups in Romania. The company owns stakes in recruiting portal Bestjobs.ro and home decorations retailer Vivre.ro. It also recently bought a 27% stake in Conso.ro, a website that allows users to compare lending costs offered by local banks. editor@romania-insider.com