Polish venture capital fund bValue Growth has announced its investment in Sportano, one of Europe’s most dynamic sports e-commerce platforms. Apart from the financial aspect of the deal, the Fund will support Sportano in further digitizing its operations.
- Launched in 2022 and based in Zielona Góra, Sportano has already expanded into 12 countries, including Poland, Germany, Czechia, Slovakia, Austria, Greece, Bulgaria, Hungary, Romania, Lithuania, Ukraine, and Italy. The company achieved revenues of PLN 52.1 million (around €12 million) in 2022, which surged to PLN 188 million (around €44 million) in 2023.
“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,”
Michał Bartosz, Partner at bValue, commented on the investment.
- bValue stated that Sportano’s strategy focuses on an underserved segment of sports enthusiasts who actively engage in various sports and seek branded products. This approach provides Sportano with stable revenue throughout the year and fosters a loyal customer base that consistently returns for new products.
“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,”
Marcin Grzymkowski, founder of Sportano, stated.
Thanks to the funds, Sportano aims to exceed PLN 300 million (€70 million) in revenue this year, maintaining a year-over-year growth rate of 90%. The business is approaching profitability and expects to achieve a net profit by 2025.
