Why do you think that this investment was interesting for investors?
GymBeam was particularly interesting to people due to its determination, experience and vision. A high-quality, passionate team is a prerequisite for the success of most business plans, as it creates value that is attractive to customers and potential strategic partners. At the same time, it is an essential factor in multiplying capital for investors. Other important factors are the attractiveness of a product that is extraordinarily suitable for e-commerce, the size of the market, the focus on a region with rising purchasing power and very fragmented local competition. The low penetration rate of online shopping in the segment of functional foods and supplements for athletes is merely an added bonus.
What did the company gain from the entry of Crowdberry investors?
GymBeam is gradually transforming into a professional growth company with the standards of foreign companies. With the introduction of structured governance, transparent reporting and the formulation of a growth strategy, its current position can be compared with that of any competitor from Western Europe. In some areas of internal organisation, it has even overtaken them and is setting trends. This gives the company a solid foundation for scaling and growth. The entry of stable non-returnable capital has improved relationships with banks and corrected certain errors that are common and even healthy for fast-growing companies. Investors with extensive experience in e-commerce, digitalisation and investment banking are a source of information for GymBeam.
What are the biggest challenges that the company faces?
For Crowdberry investors, as well as for the co-owners of GymBeam, the company has become a sort of safe haven for capital, particularly for a diversified e-commerce model with more than four million customers from 11 countries. Functional foods and nutritional supplements are experiencing a revival during the pandemic. Most small retailers are suffering from the closure of brick-and-mortar stores and online is gradually becoming the main distribution channel for producers and customers. For GymBeam, the biggest challenge consists in managing the extreme growth and scaling of the company while maintaining a motivated and dedicated team. With a solid foundation, even the long-term goal of EUR 100 million in revenues does not seem unattainable. With its investors, Crowdberry will continue to provide maximum support to the company on this journey.
This article was created thanks to cooperation with the economic daily Hospodárske noviny as part of the Investment in Business series: https://hnonline.sk/prakticke-hn/2145577-vyspela-e-commerce-je-v-case-pandemie-benefitom