Kolektiva Group, which comprises the e-commerce platforms of German group Rebate Networks, will merge with Zumzi, the online marketplace of local group Neogen, a leading online player in the region.

Calin Fusu, CEO Neogen, will lead the company resulting from the merger, while Rebate Networks will remain a major shareholder.

“The market still has enormous growth potential that we want to highlight through a major player in the region. By putting the two businesses together, we are building a viable platform for local businesses across the region,” said Calin Fusu.

Kolektiva Group recorded revenues of around EUR 20 million last year and owns local e-commerce platforms in Romania, Hungary, Croatia, Serbia, Macedonia and Bulgaria.

Zumzi is also present in Romania, Moldova, Serbia and Bulgaria, and last year posted revenues of EUR six million.

Launched in 2000, Neogen is one of the biggest online companies in Romania and one of the leading internet businesses in Central and Eastern Europe.

Irina Popescu, irina.popescu@romania-insider.com