The xFigure team advised and supported the founders of euShipments in the process of raising development capital. Finally, local investment fund BlackPeak Capital was selected as the right partner to support euShipments in achieving its strategic objectives. The value of the deal is EUR 7.5 mln. in exchange for a significant minority stake.
The sharp spike in online shopping across Europe during the 2020 and 2021 lockdowns have significantly aided the growth of carriers, aggregators and fulfilers in the Last Mile with a focus and capacity in ecommerce. By early 2021 euShipments is already established as the market leader in Bulgaria for last mile aggregation services, and the company also has a significant presence in the Romanian market. Good positioning in the local market, complemented by the boom in online shopping in Europe, is prompting the founders to look abroad for growth opportunities, with a focus on the fast-growing CEE region.
The founders’ ambition for international expansion meant that attracting growth capital became a key precondition for realising their goals. It was in this situation that the xFigureFinance team was able to support euShipments. With the company’s management, we initially set out to develop a growth strategy (outside Bulgaria and Romania) and develop a plan for its implementation. We then prepared the necessary investment documentation (teasers, financial model, investment memorandum, etc.). Finally, we were able to organize a competitive bidding process, with the founders ultimately settling on BlackPeak Capital’s bid and the deal was finalized in early 2022.