Wirtualna Polska signs a new credit facility agreement for PLN 500 million, thereby obtaining funds for further acquisitions.
The credit facility agreement has been signed with a bank syndicate consisting of mBank S.A., PKO BP S.A. and ING Bank S.A. In accordance with Wirtualna Polska’s strategy, these funds will be earmarked for future acquisitions, chiefly in e-commerce. To date, WP has focused on four areas: fashion, interior decoration, tourism and financial services. This is where the company perceives the greatest amount of synergy for its future investments.
“We have secured financing for Wirtualna Polska’s further rapid growth. We will continue to invest in e-commerce in Poland and abroad”, says Jacek Świderski, CEO of Wirtualna Polska Holding S.A. A portion of this line of credit will be used to refinance existing debt.
Wirtualna Polska is a holding company consisting of media and e-commerce companies. According to research conducted by Gemius/PBI, 21 million Poles took advantage of WP’s internet products in November 2017. For four years the Group has been developing its business on the e-commerce market – it owns Domodi and Allani (fashion), Homebook (home and interior decoration), Wakacje.pl, Nocowanie.pl and eHoliday (tourism) as well as Money.pl, TotalMoney.pl and Finansowysupermarket.pl (financial services).