September 27 (SeeNews) - Romanian centralised SaaS and B2B marketplace addressed to the hospitality industry Comarket said on Monday it has raises a new investment of 150,000 euro ($175,500) from a group of business angels, which it plans to use to speed up its local development.
Comarket will use the funds from TZA Investors and local entrepreneur Iulian Circiumaru to digitise the procurement process for more than 500 HoReCa businesses by integrating their supplier networks and creating mini-order ecosystems, it said in a press release.
By the end of the year, Comarket aims to implement a central purchasing centre through which small and medium-sized market players will have access to much better prices from suppliers and producers.
Thus, the Comarket marketplace will enter the next stage of development and the product offer will be carefully checked and selected for price and relevance for hospitality players, following some 10,000 items available to order nationally.
"The new investment validates our business model. It shows that our projections for the platform and the business scalability were as realistic as possible," Comarket CEO and co-founder Florin Maxim said.
"In the short term, we want to attract complementary international financing together with more investors and then expand our platform through new partnerships with suppliers, local producers, and national and international integrators," he added.
The company said it is in advanced talks with international investors for yet another financing of 150,000 euro, following which its market value is expected to increase to 2 million euro from 1.5 million euro.
Comarket is a B2B digital marketplace, born in response to the need to digitise procurement processes, which brings together in the same platform professionals and suppliers in the hospitality industry, a process designed to streamline the supply chain.
In the start-up phase, Comarket raised an initial investment totaling 150,000 euro from TZA Investors and a group of individual investors who participated in a crowdfunding campaign conducted by Seedblink.
TZA Investors is an investment vehicle controlled by the founders of law firm Tuca Zbarcea & Asociatii.
($=0.8547 euro)