Avokado
Avokado, a Hungarian foodtech and online grocery platform enabling consumers to shop from multiple retailers in a single basket with same-day home delivery, raised a seed investment from ED Group, the investment holding of pioneering digital entrepreneurs best known as the founders of Extreme Digital. The transaction supports Avokado’s next growth phase in Hungary’s rapidly evolving online FMCG and e-commerce market.
Deal summary
Our Client, Avokado is a Hungarian foodtech company operating an online grocery and everyday essentials shopping platform that allows customers to order from multiple physical retailers in one basket at in-store prices, with same-day home delivery. Avokado raised a seed funding round from ED Group, the investment holding of pioneering digital entrepreneurs best known as the founders of Extreme Digital, which merged with eMAG to create one of the largest online retail networks in Central and Eastern Europe targeting €1 billion in sales.
Deal rationale
The funding was raised to scale Avokado’s multi-store online shopping model, strengthen its technology platform and logistics capabilities, and support customer acquisition in a fast-growing but increasingly competitive Hungarian online FMCG market. The investment also enables Avokado to expand its network of partner retailers, deepen its product range, and further optimize pricing and delivery options, creating a more convenient and cost-effective online shopping experience for consumers while providing an easy route to digital sales growth for physical retailers.
Absolvo advised
Our team delivered end-to-end advisory services throughout the transaction, including the review of financial plan and investor documents, engagement with potential investors, negotiation and evaluation of term sheets, support during due diligence, negotiating the investment agreements, and coordination of the signing and closing, and other deal related tasks.
The deal team
