EBRD, Raiffeisen Bank support expansion of Romania-based online retailer eMAG

Monday 12 July 2021 13:44 CET | News

The European Bank for Reconstruction and Development (EBRD) has arranged alongside Raiffeisen Bank a debt financing package for Romanian-based online retailer eMAG.

According to Act Media, the syndicated loan package of EUR 37.55 million was arranged by the EBRD and Raiffeisen Bank as Original Mandated Lead Arrangers and by Alpha Bank as Mandated Lead Arranger. The loan is part of a larger package of EUR 73.4 million aimed to finance the development of the company’s second logistic center as well as the automation equipment to be installed.

eMAG is the largest online retailer in Romania connecting customers, suppliers and entrepreneurs across Romania, Bulgaria, and Hungary. Responding to the rapidly growing demand for online services during the coronavirus pandemic, the company is expanding its logistics capacity. 

Moreover, the investment will enable eMAG’s commercial expansion increase capacity of its fulfilment services while indirectly supporting SMEs’ to expand their business and improve their operations by leveraging eMAG’s marketplace platform. 

Additionally, the company also committed to follow BREEAM green building certification requirements to optimise energy consumption and limit greenhouse gas emissions.

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Keywords: investment, ecommerce, online shopping, SMEs, marketplace
Categories: Payments & Commerce | Ecommerce
Countries: Europe
This article is part of category

Payments & Commerce