April 7 (SeeNews) - Bulgarian investment company HR Capital [BUL:HRC] said it invested 250,000 euro ($273,100) in local online grocery shop eBag.bg by subscribing for 730 ordinary shares from the capital increase of the online shop's operator - local company Convenience.
The entire investment round is valued at 1 million euro, with Czech online food retailer Rohlik.cz the leading investor, HR Capital said in a bourse filing.
The funds of HR Capital used to subscribe for the new shares were received from an investment campaign under a cash loan agreement with local Citadel. The one-year loan amounts to 800,000 levs and has an annual interest rate of 4%. It was provided for the acquisition of new investments by HR Capital, the company noted.
The turnover of eBag reached 36.5 million levs ($20.4 million/18.6 million euro) last year, 50% higher compared to 2020, according to the bourse filing.
In 2022, HR Capital will strictly adhere to its publicly announced investment policy - participation in innovative technology companies, as well as increasing its interest in the most successful investments to date, the company said.
Last month, HR Capital made investmens in US-based artificial intelligence (AI) firm OhmniLabs, digital industry news outlet The Recursive and domestic revenue operations and analytics growth platform Releva.
HR Capital made its debut on the SME growth market BEAM of the Bulgarian Stock Exchange in January following a successful initial public offering in December.
($ = 0.9155 euro)