Frisco.pl - Polish e-grocery leader, with top tier technology solutions, occupying 40% of Warsaw region market
Investor: MCI
Industry: E-grocery
Year of investment: 2012
Year of exit: 2019
Company
Frisco.pl is grocery online supermarket, the longest operating one. It is a pure-online player, without any offline distribution and presence. Frisco.pl operates within Warsaw district offering a wide range of fresh and dry food products.
MCI Funds held nearly 56% of the shares of the company.
The sale transaction value exceeded PLN 120 million, that resulted in 2.8 CoC and 22.5% IRR for MCI.
The beneficiary of the transaction is also the Helix Venture Partners fund, with Krajowy Fundusz Rozwoju (PFR Group) as the second investor.
Growth
[data available soon]
Main objectives of the funding
- Very disruptive business model, and market front-runner
- Experience of MCI management team in e-commerce market
- Promising examples of success stories from the Western markets
Achievements of the company
- 7-fold increase in revenues, from PLN 17 million in 2012 to PLN 120 million in 2019
- Brand new, fully automated warehouse, allowing to quadruple operations in Warsaw region, and providing significant operational costs savings.
- Constant improvement in e-commerce metrics (online customer conversion & engagement)
- Cooperating with Samsung (Internet-of-Things - Fridge), and Google (integration with Google Assistant)
7x
revenues growth
2012-2019
4x
operations growth
in Warsaw region
Value added by PE/VC fund
- Strengthening the management team with top talent
- Engaging new strategic investor in 2014 for the company, Eurocash, that eventually became a full shareholder