R22 invests Euro 1 million in Romanian IT firm

Blugento, a provider of e-commerce solutions based on the Magento platform, received a strategic investment of EUR 1 million, following the signing of an investment agreement with the IT Polish group R22. The partnership involved selling a 31 percent stake and aimed at developing the platform and expanding the Blugento business on several European markets, the first being Poland and France.

This is the second investment that Blugento manages to attract in two years. The first capital injection, worth EUR 120,000, took place in June 2017.

“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. Support R22 includes not only development funding, but also access to know-how and a base of more than 250,000 Group customers,” said Sandu Babasan, CEO Blugento. “In Romania, Blugento is one of the default solutions that traders take into account when they want to create a new online store. And our development is determined, first of all, by customer recommendations.”

Following the new infusion of capital, Blugento is valued at around EUR 3.8 million.

Blugento is an ultra-high-performance ecommerce solution built on the Magento platform, the world’s most popular e-commerce platform, and is offered to customers in the SaaS (Software as a Service) format. Blugento offers all the functionalities needed for a successful online store based on a monthly subscription and is integrated with over 100 payment solutions, ERP, courier, marketing and other services that offer competitive advantages to online stores.

Blugento plans to expand its team with technology specialists and business specialists in eCommerce, and by the end of the year it will reach 35 employees.

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