Studio Moderna, an electronics and consumer products retailer in Central and Eastern Europe, has received a minority investment from a group of investors co-led by Insight Venture Partners and Templeton Strategic Emerging Markets Fund III.
Among others, JH Partners joined the co-leads in the transaction.
The funds were primarily used to purchase secondary shares.
Larry Handen from Insight Venture Partners and Matjaz Schroll from Templeton Strategic Emerging Markets Fund III will be joining the board of directors.
“We are beginning to realise the potential in our chosen markets and see great opportunities for Studio Moderna,” says Sandi Češko, chairman of the Studio Moderna Group. “Our new investors have recognized our achievements to date, and are supportive of our vision for the company’s expansion. We believe their presence will strengthen Studio Moderna and contribute to its future growth.”
Studio Moderna is a direct-marketing company in the CEE region reaching more than 400 million consumers through its multi-channel distribution network. The company owns Top Shop, one of the best-known TV shopping brands in the region which markets online and through dedicated TV programming, subsequently selling products via its e-commerce shop, in-mall kiosks and high street retail stores.
“For more than a decade, Studio Moderna has committed itself to delivering value to its customers”, says Handen. “This commitment, coupled with a technologically sophisticated commerce platform, makes Studio Moderna a leader in the e-commerce and multi-channel marketing industry. We look forward to being a part of the company’s continued growth and profitability.”
