Elefant.ro CEO Sergiu Chirca said the funds raised within the share capital increase and the new bond issuance would ensure the capital infusion needed to achieve growth targets
Elefant is one of the leading e-commerce platforms in Romania, with a compound annual growth rate (CAGR) of GMV (gross merchandise value) of 32% between 2018 and 2020.
In the first half of 2021, Elefant reported a GMV of nearly RON121 million, compared with RON117 million in the same period of 2020.
Elefant Online SA (the former Universal Online Promotion SRL) is held by Cyprus-based Millennium Gold Resources Limited which owns a 60.7% stake. The second largest ownership stake, of 29.4%, is held by Dutch investment vehicle Olif. A minority stake of 9.92% is also owned by investment fund Catalyst Romania, which joined the company’s shareholding structure in 2014, per Confidas.ro data.
Elefant reported a turnover of RON104 million and a net loss of RON3.8 million in the first half of 2021, as compared to a turnover of RON102 million and a net profit of RON473,000 in the same period of 2020, per the half-year financial report released on Sept 13, 2021.