Ukrainian e-commerce project Topmall, founded by TA Ventures, received EUR 500,000 investment. The deal was closed in February, its conditions and investors are confidential. The brand will direct the investment on the launch of an online store merlin.pl in Poland.
Topmall was founded back in 2013 in Ukraine when TA Venture invested USD 5 million in the project. However, last year, due to the crisis in Ukraine, the company transferred its entire operation activity to Poland.
The project is coordinated by Lukash Shchepanski (Chairman of the Management Board) and Marek Friedman (Deputy Chairman of the Management Board).
According to Shchepanski, in 2016 Topmall planned to expand on other Russian-speaker markets instead of developing in Poland. “However, we received a unique opportunity to lease a domain merlin.pl – one of the most recognizable Polish brands”, - he explained.
Merlin.pl launched in 1999. Its major product categories are books, music, films, perfumery and cosmetics.
Back in 2014, Merlin.pl was the sixth largest online store in Poland with over 1,2 million orders. At the end of November 2015 the store closed because of financial difficulties.
Topmall signed a deal with Magus SA (former Merlin.pl SA) to lease the trademark and domain merlin.pl.