Polish market leader in SaaS solutions for e-commerce will soon enter the Warsaw Stock Exchange

Shoper S.A., the owner of Poland’s most popular e-commerce platform for running online stores in the SaaS (Software as a Service) model, has published a prospectus related to its public offering of shares launched today. The offering comprises approximately 27.1 percent of the Company’s shares and the maximum price has been set at PLN 47. At this price the value of the offering amounts to PLN 363 million. Subscriptions for individual investors will be carried out between 22-28 June. The stock exchange debut is planned around 9 July.

Shoper is a leader in the Polish market of e-commerce software providers in the SaaS model – it has about 45% market share in terms of the number of customers served, and including stores sold on a private label, this share increases to about 57%. It enables entrepreneurs to conveniently, quickly and easily set up their own online store and conduct sales in the online channel. The Company’s comprehensive offer includes the Shoper platform, available in the form of a subscription, which allows flexible adjustment to the needs of a given client and a number of services sold in the pay-as-you-grow (PAYG) model, correlated directly with the number of orders or the volume of turnover (GMV) generated by stores on the platform.

The Company’s solutions are used by over 21,000 stores, including approximately 17,000 direct customers, which generated nearly 4.5 billion GMV1) in the 12 months ended March 31, 2021. The remaining 4,000 stores were sold under the Private Label formula by the Company’s partners. Shoper services are used by, among others: Wawel, Kanał Sportowy, Pat&Rub, Kruger&Matz, Military Property Agency.

– With over 21 thousand stores, we are the leader of the Polish market of SaaS solutions for e-commerce. Our strategy assumes further dynamic growth of the scale of operations, which will be possible both by acquiring new users and increasing revenues from the existing customer base. Our advantage is a strong market position and a rich offer of additional services settled in the pay-as-you-grow model, which help e-stores -effectively increase sales. Thanks to this, we can grow together with our customers – comments Marcin Kuśmierz, CEO of Shoper.

The high scalability of the SaaS model and the market position of Shoper provide a solid basis for further growth. By 2026, Shoper wants to increase the user base of the Shoper platform to 50 thousand online stores and 7 thousand users of the ErpBox application, thanks to which stores on the Shoper platform can, among others, be integrated with trading platforms allowing for sales abroad. At the same time, it plans to increase revenues related to the scale of users’ activity (pay-as-you-grow) from the current 50% to ca. 80% and to further strengthen the omnichannel sales model within the platform by expanding the number of possible integrations.

In Q1 2021, Shoper generated PLN 15.8 million in revenue, up 71 percent year-on-year. Operating profit increased by 69 percent to PLN 5.5 million, and net profit by 92 percent to PLN 4.5 million. – As a leader in the Polish market of SaaS solutions for e-commerce, we are the first choice for those who decide to start selling online. The dynamic development of the SaaS model and the entire e-commerce market combined with our know-how and attractive offer will allow for further growth of the company – says Marcin Kuśmierz.

Individual investors can subscribe for shares between 22 and 28 June. Subscriptions are accepted by the Brokerage Office of PKO Bank Polski and the Brokerage Office of mBank. It is the intention of the offerors to offer retail investors approximately 10-15% of the shares for sale.

– We are a profitable company with stable cash flows, a strong market position and an ambitious development plan. We decided for our stock exchange debut because we believe that it will strengthen our image and the Company’s transparency among business partners. At the same time it will enable us to introduce an incentive program for employees – adds Marcin Kuśmierz.

The offer comprises up to 7,731,628 shares in the company, representing 27.11 percent of the share capital and 27.50 percent of votes at the General Meeting, together with a stabilization option of up to 10 percent of the number of shares allotted. The offerors of the shares are the company’s current shareholders, i.e. the private equity fund V4C POLAND PLUS FUND S.C.A. SICAV FIAR, Modhaus sp. z o.o., KFF Sarl, Krzysztof Krawczyk and Rafał Krawczyk. The selling shareholders and the Company have agreed not to sell or issue shares in the Company for a period of 360 days after the Offering. The managers of the Offering are mBank S.A., Brokerage House of PKO BP and WOOD & Company Financial Services, a.s.