bpv Hügel | bpv Legal | Romania advised INNOSHIP Technology and its shareholders on investment by ALSENDO, an ABRIS CAPITAL portfolio company

18 October 2022. The team of bpv GRIGORESCU STEFANICA advised Innoship Technology, its co-founders and the investor Gapminder VC, in relation to the investment by Alsendo Group, an Abris Capital portfolio company.

The transaction was completed in October 2022 and sees Alsendo Group becoming a majority shareholder in the company, with the co-founders retaining the remaining shareholding. Venture capital investor Gapminder VC, a leading venture capital fund investing in technology companies, has exited its investment. The co-founders will continue to run and expand the business of Innoship throughout Europe, while taking additional responsibilities at the level of Alsendo Group.

Our team advised comprehensively on all stages of the transaction and was led by Cătălin Grigorescu, Partner (Corporate, M&A, Technology). Cătălin will continue to support Innoship and its business as a member of the newly-formed Supervisory Board.

Our firm advised Innoship and its co-founders since the company’s initial set-up in 2019 on all corporate, commercial, employment and regulatory matters. In 2020, we advised on Innoship’s seed financing round from GapMinder VC, which accelerated the growth of the business and the technological development of the Innoship platform.

Cătălin Grigorescu, Managing Partner bpv GRIGORESCU ȘTEFĂNICĂ: Witnessing Innoship’s impressing success story first-hand and working with the co-founders and the investors throughout the entire existence of the company so far is a great professional privilege. We are grateful for the trust the co-founders and Gapminder have placed in our team to advise them in this transaction that opened a new chapter in the company’s life. The tie-up with Alsendo and the backing of Abris Capital will see the combined businesses transform into a European powerhouse for advanced technology solutions for end-to-end shipping management in the near future.

Daniel Nicolae, Managing Partner INNOSHIP: Innoship is a fast-growing, innovative company, redefining its sector and we needed advisors with the same attitude and capabilities. Catalin and bpv GRIGORESCU STEFANICA have accompanied our team since the very beginning. Their legal skills and deep roots in the technology sector as well as their outstanding business acumen were invaluable in achieving exceptional results for the company and for the founders on several occasions, including in this transaction.

Cosmin Ochisor, Partner GAPMINDER VC: Our first interaction with Innoship was an introduction made by Catalin to the co-founders and we are very happy with the investment decision we took two years ago, which led to a very profitable exit for our fund. Catalin was also instrumental in aligning all existing shareholders for in pursuing the route of a transaction with a private equity fund. Working with Catalin and his team on this transaction was a no brainer for us.

The year 2022 continues to be a highlight year for our firm’s technology transactions practice. Earlier this year, our team advised Smart ID Dynamics and its shareholders in relation to the investment of SARMIS Capital in Smart ID Dynamics (January 2022) and on the acquisition of the Brasov-based integrated software solutions provider Spectrum (May 2022). Other notable transactions include the representation of the Scandinavian private equity investor FSN Capital on the transaction involving the acquisition of Mantis Group, a leading international WMS/ logistics software and solutions vendor (February 2022). Several other sizeable technology transactions mandates are in progress.

bpv GRIGORESCU STEFANICA is a business law firm with a full-service offering for complex projects and litigation and a unique combination of legal and tax advisory capabilities. The firm is known internationally for its focus on the Technology sector and its prominent practice in areas such as Corporate, Mergers & Acquisitions, Taxation, Employment & Benefits, Procurement, Concessions & PPPs, Medical services, Energy and Infrastructure.

bpv GRIGORESCU ȘTEFĂNICĂ team is continuously included among the most prominent Romanian law firms by prestigious international legal directories such as Chambers & Partners, Legal 500, IFLR1000, ITR World Tax, Media Law International.

bpv GRIGORESCU ȘTEFĂNICĂ is a founding member of bpv Legal, an alliance of independent business law firms with offices in Bratislava, Brussels, Bucharest, Budapest, Prague and Vienna, offering cross-border legal advisory services.

Innoship is a company that combines technology (in a form that is easy to understand and easy to use) and know-how in the fields of courier services, supply chain, and retail operations. The Innoship platform is an aggregator of multiple fast delivery options for retail and e-commerce businesses, democratizing the access of retailers of all sizes to advanced technology. Through the Innoship platform, retailers can efficiently manage their courier contracts by offering their customers multiple delivery options and shipping services for substantially better quality at a minimal cost.

GapMinder is a EUR 50 million venture capital fund that invests in technology companies created in Romania and Central Europe, growing rapidly internationally and in the Seed or Series A phase. GapMinder partners have a direct approach as investors, helping companies grow through strategic consulting and direct involvement in the operational organization, corporate governance, and financial discipline. GapMinder’s portfolio includes companies such as FintechOS, TypingDNA, DruidAI, Cyscale, Deepstash, SmartDreamers, Soleadify, Machinations, Frisbo, Innoship.io, Cartloop. GapMinder is co-financed mostly by the 2014-2020 Competitiveness Operational Program.

Alsendo is a brand that aggregates several shipping technology services (Apaczka.pl, Sendit.pl, Superpaczka.pl, Zaslat.cz, Innoship.com, LepszyKurier.pl, and several others) operating in the Polish, Romanian and Czech markets. The company has grown into a leader in Central and Eastern Europe. Its goal is to provide comprehensive solutions in the field of shipping and after-sales processes for all customer segments. Its activities are aimed at improving the efficiency of its client’s shipping processes, with the highest standards of business consulting and using the latest technological solutions.