FII-backed Supermercato24 buys online grocery platform Szopi

The acquisition was financed with cash and an exchange of shares. Following the deal, Szopi's founders will join Supermercato24's team and work with its business development and operations division.

With this acquisition, Supermercato24 expects to boost its growth, increase its revenues and expand in the Polish market. The combined group expects to generate revenues of €30m in 2019, with a 100% organic growth rate, Unquote understands. 

FII led a €13m funding round for Supermercato24 in June 2018. Existing shareholders Innogest and 360 Capital Partners also took part in the funding round, alongside newcomer Endeavor Catalyst.

FII deployed capital from its FII Tech Growth Fund, a vehicle launched in 2017 with a €150m target that held a second close on €110m in November 2019. The fund invests in majority and minority stakes of small and medium-sized Italian companies with a turnover of €5-70m by deploying equity tickets of €5-20m.

Previous funding
Szopi raised $500,000 in seed funding in 2017 and $700,000 in 2018 from various investors, including Impera Alfa.

Company
Established in 2016 and based in Warsaw, Szopi is an online grocery platform that offers on-demand delivery to its customers from local supermarkets. The company has partnerships with several supermarket chains, including Auchan and Carrefour.

People
Fondo Italiano d'Investimento – Mauro Pretolani (senior partner).
Supermercato24 – Federico Sargenti (CEO).

Advisers
Equity – Orrick (legal).

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• Topics
• Portfolio management
• Southern Europe
• CEE
• Consumer
• Fondo Italiano di Investimento
• Italy
• Poland
• Build-up
• Venture
• Orrick