Romanian startup Blugento raises €1 million to scale its e-commerce solutions internationally

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Cluj-Napoca-based startup Blugento’s core business is a Platform as a Service (PaaS) solution for e-commerce. Using the Magento framework, Blugento’s platform enables business owners to effectively create e-shops and automate their online business processes.

Founded in 2016, the startup has just raised an investment of €1 million from the Polish group R22 to boost international expansion, invest in new e-commerce products, and grow its business support services for established offline business owners that are looking to add an online revenue stream.

“Our expansion plans target both new markets and new products,” said Jakub Dwernicki, CEO of R22. “We have built a comprehensive portfolio of services and tools that enable entrepreneurs to develop their online business and support them in automating business processes. Blugento is a unique tool that allows fast and cost-effective creation of professional online stores. The company has proven its value on the Romanian market and is ready for international expansion.”

Blugento previously raised a round of €120k in 2017, and following the latest investment the company is estimated to be valued at around €3.8 million.

The company’s development plan includes upgrading its e-commerce solutions with the latest state-of-the-art technologies such as Magento 2, Progressive Web APP, Serverless and Kubernetes. It also plans to expand into two new markets, France and Poland. 

In 2018, e-commerce in Romania grew 30%, reaching a total of €3.5 billion. This represents the highest growth in Europe for the second consecutive year, demonstrating the huge potential for developing online stores in the country. Blugento plays a unique and important role in the economy’s GDP, in the same way telecoms infrastructure did back in the old days – the company has a unique advantage of creating a strong e-commerce market within and outside of Romania. 

“The partnership with the R22 Group will help us reach our development goals, create the best e-commerce solution for small and medium-sized businesses and expand ourselves internationally,” said Sandu Băbăşan, CEO of Blugento. “The support from R22 includes not only development funding, but also access to know-how and a base of more than 250,000 Group customers, we are on a mission to hit a 0.2 seconds load time and support 1000+ online shops in Romania.” 

Blugento plans to expand its team with technology and business specialists in e-commerce, and reach 35 employees by the end of the year.