At present, Frisbo network includes over 20 logistics centers in Romania, the Republic of Moldova, Hungary, Slovakia, Bulgaria, Poland, Germany, the Czech Republic and Chile, serving over 200 online retailers.
Founded in 2014, the startup has succeeded in raising total investment of EUR4 million so far. The most recent funding round amounted to EUR2 million, with the money raised from Bulgaria’s investment fund Eleven Ventures and local funds GapMinder Ventures, RocaX and Neogen.
In the wake of the funding, Frisbo doubled its valuation to EUR12 million, with investors betting on the business’s growth potential internationally in the coming years.
“Our desire is for Frisbo to be already shaping up as a relevant company at a European level in 3-5 years. We’re considering other ideas as well, including entering markets outside the EU,” said Bogdan Colceriu, Frisbo founder and CEO.
(English version by Catalina Apostoiu)