Facilitated by Milo Dvorak
2. 9. 2024
Published by e15.cz on 20 August 2024
Knihobot, a Czech second-hand book retailer, has secured its largest investment to date, amounting to €4 million (over CZK 100 million) to support its expansion in Germany and Austria.
The lead investors in this funding round are the Genesis Growth Equity Fund I and the Miton group.
Knihobot entered the German and Austrian markets last year under the brand name Bookbot, and the investors have now valued the company at more than €20 million (over CZK 503 million).
In the previous year, Knihobot increased its revenue to CZK 301 million, marking a rise of nearly CZK 120 million compared to the prior year. The company processed an average of 10,000 books daily and sold two million books over the course of the year.
According to founder Dominik Gazdoš, Knihobot aims to double last year’s turnover to CZK 600 million in the current year.
Gazdoš noted that with a 5% share of the entire Czech book market, Knihobot has demonstrated that a second-hand service can become a customer's first choice by offering exceptional service.
He also noted that while aware of the strong competition in the German market, the first year post-expansion has shown significant interest in Bookbot, and a physical branch is planned to open in Berlin.
This investment marks Knihobot’s largest to date, with founder Gazdoš acknowledging the challenges in finding the right investor.
Ondřej Pernica, Manager at Genesis Growth Equity Fund I, stated that the lead investor was convinced by Knihobot’s vision for a large market, the strong founding team, and their commitment to enhancing their service.
Knihobot, founded in 2019, operates in the Czech Republic, Slovakia, Austria, and Germany. In 2022, it was ranked as the 15th fastest-growing company in Central Europe and the 5th in the Czech Republic by Deloitte.
Genesis Growth Equity Fund I is a growth-oriented private equity fund focusing on small to medium-sized companies with significant growth potential in the Czech Republic and Slovakia. The fund, with a size of €40 million (approximately CZK 1 billion), typically invests between €2 million and €6 million (around CZK 50 to 150 million) in its target companies.