Comarket, a centralized Romanian SaaS and B2B marketplace addressed to the hospitality industry, starts a tour to raise a new investment of 150,000 euros from international investors. The founders of the startup will pitch to angels and venture capital funds in Wroclaw, Poland.
Comarket has recently raised a new investment of 150,000 euros from a group of business angels, including Iulian Circiumaru, an active investor in several entrepreneurial ventures, and accelerated development plans.
“We have planned a global tour that begins with the Wolves Summit in Poland to pitch in front of investment funds and angel investors in Southeast Europe. Our third round of pre-seed will come from investors outside Romania. In addition to cash, we aspire to attract smart money and know-how for expansion in the region next year. We likewise want to know other regional startups to integrate with other similar platforms”, says Florin Maxim, CEO of Comarket.
The amounts raised in the last financing round will be invested in digitizing the procurement process for more than 500 HoReCa businesses by integrating their supplier networks and creating mini-order ecosystems. At the same time, by the end of the year, the aim is to implement a central purchasing center through which small and medium-sized market players will have access to much better prices from suppliers and producers. One advantage of Comarket is the seniority of the three co-founders, each of us having more than 20 years of experience in c-level positions in Horeca, retail, and technology.
The founders of Comarket desire the next market they develop to be Poland, a similar market to Romania, which is in the same stage of development of the hospitality sector in terms of consumption, with similar consumption habits.
After the expansion in Poland, which should take place next year, the following country should be the Czech Republic, ensuring the Comarket’s entry to Western Europe.
According to Comarket, an estimated 30 billion euros in the SEE market uses paper lists, text messages, whats-up, phone, or field agent visits. “Single units run by its owners represent 80% of the businesses in the sector. We can not talk about stability or development when the acquisition process characterizes 70% of his time”, said Florin Maxim.
Wolves Summit is organized as an online & offline event. This edition offers startups, scaleups, corporations, executives, investors, partners, and sponsors alike the unique opportunity to reach the global tech community and meet in person, for the first time in Wrocław, Poland.
The Comarket marketplace will enter the next stage of development. 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. Currently, Comarket has over 6,000 items in its portfolio.
One of the priorities of the Comarket team is the integration of local producers in the platform, and the main challenge is to solve the dysfunctions they face in terms of logistics and marketing authorizations. In this regard, Comarket is preparing to develop new partnerships with national integrators to create a HoReCa entry kit for any local manufacturer, so that their products are available nationwide.
The Comarket platform offers a fast and efficient solution for managing the purchasing activity within an HoReCa business, offering a modern alternative to traditional methods (visiting the field agent on location, placing orders via SMS, Whatsapp, or phone, etc.). In addition, the platform automates a process that is repeated almost daily, providing users with data on order history, centralization, and logistical details.