Polish sports e-commerce platform Sportano has raised funds from bValue Growth. The precise amount of the deal is undisclosed, but the newly launched bValue's fund for growth-stage companies usually invests €5-15 million.
- Launched in 2022, Sportano develops a marketplace of branded products in Europe, including Hoka, ASICS, HEAD, THULE, Rossignol, New Balance, Helly Hansen, On Running, Skechers, and many others. The startups also operate Sportano Club, a loyalty program that provides customers with a variety of benefits, including discounts, promotions, sales information, service coupons, and exclusive events.
- To date, Sportano operates in 12 European countries, including Poland, Germany, Czechia, Slovakia, Austria, Greece, Bulgaria, Hungary, Romania, Lithuania, Ukraine, and Italy.
- In 2023, the startup achieved revenues of over €43 million (PLN 188 million) and aims to exceed almost €70 million (PLN 300 million) in revenue this year.
Details of the deal
- The investment came from bValue Growth, a €90 million Warsaw-based fund that was launched in April. It supports tech startups across the CEE, taking an equity stake of 20-40%, with the possibility of acquiring majority stakes in exceptional cases.
“Sportano aligns perfectly with our investment strategy. By collaborating with the company’s ambitious management team, we are providing the capital needed to realize their bold vision of becoming Europe’s leading sports e-commerce platform,” Partner at bValue, Michał Bartosz, commented.
- The fresh funding will allow Sportano to digitize its operations further. The company says it expects to achieve a net profit by 2025.
“We are thrilled that bValue shares our vision for growth in the branded sports products market. With their support, we aim to surpass PLN 300 million in sales in 2024. Despite challenging market conditions, we continue to grow rapidly and execute our plans successfully,” founder of Sportano, Marcin Grzymkowski, stated.
