Romanian e-commerce player eMAG has secured a financing of around €70 million from Alpha Bank for the development of a logistics hub near Budapest.
The new warehouse will span up to 120,000 sqm and will be developed following an investment of more than €100 million.
Tudor Manea, CEO of eMAG, points out that the expansion in Hungary will provide more opportunities for sellers on the e-commerce platform.
In the first phase, the retailer has used a bridge-loan of €30 million for the development near Budapest. eMAG is the biggest online retailer in Romania and is present in several markets across Central and Eastern Europe.
