Romanian e-commerce start-up gets EUR 120,000 investment

Cluj start-up Blugento, specialized in providing e-commerce solutions, has attracted a EUR 120,000 investment from three local investors. The start-up will use the funds to expand on two new European markets and to fully automatize its Blugento solution. "The investment confirms the potential of Blugento and the e-commerce market in Romania, which is still much less developed than other countries, such as Hungary or Slovakia, and twice under the European average. This investment will allow us to accelerate and soon to approach two other markets in Europe," said Sandu Babasan, 35, CEO and majority shareholder of Blugento. The capital injection represents a first round of investment, with the next one scheduled for next year, Babasan added. The local e-commerce market will exceed EUR 2 billion this year, up 25-30% over the previous year, according to Blugento data. editor@romania-insider.com