Intel Capital has provided additional funding for Mall.cz, operated by one of its portfolio companies in the Central Eastern European region.
Intel Capital and MCI, a Polish investor, have each made a EUR5m investment into Mall.cz’s holding company, Netretail Holding.
Ondra Tomek also invested EUR1m in the company in a separate investment.
Mall.cz is located in the Czech Republic with Netretail Holding also having operations in Poland, Hungary, Slovakia and Germany. The group currently runs localised ecommerce shops in the region with 600 product categories, from consumer electronics to sporting equipment. Mall.cz has more than 1,000,000 registered customers and a daily visitor rate above 100,000 users.
Arvind Sodhani, president of Intel Capital and Intel executive vice president, says: “This investment is a clear indication of Intel Capital’s commitment to the Central Eastern European region. It demonstrates our unwavering commitment to invest in technology innovation globally, and stimulate economic activity in the region by encouraging local entrepreneurship.”
Ondrej Fryc, chief executive of Netretail Holding, adds: "Since 2000 we have pioneered a new approach to internet retailing, investing heavily in customer services, infrastructure and large logistics warehouses. Intel Capital has been a very valuable supporter in this endeavour. This approach has differentiated the company from the competition and enabled us to grow significantly in the last few years. As a result of the second round of financing from Intel Capital and MCI, our group will be able to develop customer satisfaction and grow into other markets in the region. The e-commerce sector is growing rapidly and there are significant opportunities for new approaches and innovations.”
