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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

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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