Why I Invested in Blugento

Cluj-Napoca brings together many innovative startups, especially in the IT sector. These new companies, full of bold ideas, are the foundation for the growth of the industries in which they operate.

E-commerce is an excellent example of a growing industry supported by increasingly advanced technology.

In May 2017, I decided to invest in such a startup: an eCommerce solutions agency called Blugento. Today, I am very happy to say that it was a good decision, and the company is growing at an encouraging pace.

The decision to invest in Blugento was based on the following factors:

Why eCommerce

The online retail industry has grown rapidly and in a relatively short time. The reason is not hard to deduce: online orders are often more time and resource-efficient than traditional retail. For consumers, online stores mean more options, more information, and fewer difficulties.

The global eCommerce market records annual growth of over 20%, and experts predict that by 2020, this market will reach four trillion dollars. Both the number of customers and the number of stores are continuously increasing.

In Romania, the evolution of digital commerce is even more accelerated. In 2016, the Romanian industry recorded the highest growth in Europe: 45% compared to 2015. The Romanian eCommerce market is expected to reach 2.5 billion euros in 2017 with a 24% growth, surpassing that of the European or global market.

Additionally, the eCommerce industry is undergoing transformation. Internet penetration is increasing, and mobile devices have become a larger source of traffic than desktop computers. These trends are driving the development of new solutions to enhance the overall experience. The following innovations could become key factors in the future growth of the industry:

  • New payment methods, such as card-on-delivery
  • Virtual reality
  • Big Data applications for collecting and processing visitor data
  • New ways to optimize online stores for all devices, such as progressive web apps

The eCommerce industry is full of new and bold ideas. With the right attention, an investor can capitalize on the myriad of opportunities in the online retail market. In this context, I had the opportunity to connect with the Blugento team and collaborate.

Why Blugento

Blugento is a high-performance eCommerce solution built on the solid Magento platform, in a SaaS format. The company’s founders have over ten years of experience in the digital solutions industry, leading MindMagnet, an agency specializing in Magento solutions and custom web design. Earlier in the year, MindMagnet became a PitechPlus partner, working alongside over 300 IT specialists.

The Blugento team knew from the start how important it was to develop a scalable and modern solution. The eCommerce platform was developed on a “Mobile First” principle and emphasized the integration of as many specialized solutions as possible.

Through the integrations and partnerships established by Blugento, the agency’s clients have access to a wide range of extensions, applications, and services (SEO, marketing, courier, etc.).

Perhaps even more importantly, Blugento’s business plan is scalable. The SaaS format ensures recurring revenue, and the large number of partners provides a channel for acquiring new customers. Additionally, at the time of the investment, the company was preparing to enter an international market.

Blugento’s Evolution Post-Investment 

First and foremost, a very important aspect for investors is the relationship with the management. From this perspective, I am satisfied with the transparency and efficiency of the board of directors. Through effective communication and monthly reports, I am kept informed about Blugento’s projects and their progress.

The company’s portfolio has expanded significantly. Currently, Blugento has over 200 clients, including well-known stores and brands such as Audi, Meron, and bautura-online.ro.

The number of partners has increased and continues to grow monthly. Through a partnership with Banca Transilvania, Blugento offers special GoOnline packages aimed at giving entrepreneurs the chance to open an online store without a large initial investment.

The eCommerce platform is constantly being improved according to the needs and desires of clients. Blugento’s team aims to create a scalable and affordable online commerce solution that provides all the necessary functionalities for an online store to grow.

I confidently recommend the Blugento platform to both entrepreneurs looking to launch their startup and established stores wanting to enter the online retail market. The solutions are diverse, and stores are built according to the client’s desires and the company’s brand.

Those interested in starting an eCommerce site can contact the Blugento team on this page.

Florin M. Pop
Managing Partner
Primainvest Capital Management

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