Shoprenter

Hungary’s leading cloud-based (SaaS) e-commerce platform provider, Shoprenter, closed anM&A transaction with IAI (IdoSell), Poland’s top e-commerce platform provider in 2021. The deal grants IAI a 51% ownership in Shoprenter, reinforcing its strategic expansion in Central and Eastern Europe.

Why Shoprenter Was a Strategic Fit for IAI?

Shoprenter evolved from a small team into Hungary’s leading e-commerce platform in less than 10 years. Originally focused on webshop development, the company pivoted in 2011 to a scalable SaaS model, offering rental-based (later on subscription based) online store solutions. Today, Shoprenter powers ~ 20% of Hungary’s e-commerce market, with over 6000 businesses relying on its platform.

As part of Innonic Group, Shoprenter is among the region’s successful ecommerce tech ventures.

A Key Step in IAI’s European Expansion

IAI (IdoSell) is a dominant player in Poland’s e-commerce sector, serving over 6,000 online stores and 1,500+ hospitality businesses. Backed by MCI Capital, one of Central Europe’s top tech-focused private equity funds, IAI processed €3.8 billion in GMV in 2024, making it one of the region’s most influential e-commerce platforms.

For IAI, Shoprenter represented a rare opportunity to acquire a pure-play SaaS e-commerce platform, which cannot be commonly found among regional competitors. Additionally, Shoprenter’s impressive revenue growth (30-50% YoY) and profitability surge (90% YoY) in 2020 underscored its strong financial fundamentals and scalability potential.

“It’s Not About the Money – It’s About the Right Partner”

“We didn’t need funding – we needed the right strategic partner. E-commerce is evolving rapidly, and major players are entering the market. Instead of building everything from scratch, we chose a partner with a decade of international experience, proven tools, and a scalable model.”

- said Csaba Zajdó, Founder of Innonic, in an interview with Forbes

With 50+ million transactions processed annually, totalling nearly €3 billion, IdoSell operates at a scale three times larger than Hungary’s biggest SaaS e-commerce platforms. Its 200+ person strong expert team has deep expertise in e-commerce technology, payments, logistics, and digital marketing, providing a comprehensive suite of services beyond just a webshop engine.

A Game-Changer for Shoprenter Clients

According to Shoprenter CEO Tamás Szivák, who remained at the leadership alongside the existing management team, the deal unlocks unparalleled opportunities for Hungarian e-commerce businesses:

“This partnership allows us to scale our services both in quantity and, more importantly, in quality. Over the next few years, we will introduce solutions previously unimaginable in the Hungarian market.”

Poland’s more advanced e-commerce landscape serves as a blueprint. For instance, Google Shopping, launched in Hungary just two years ago, has been available in Poland since 2013. By leveraging IdoSell’s mature infrastructure, Shoprenter will bring cutting-edge innovations to Hungary, providing end-to-end solutions for even the largest online retailers.

How Absolvo supported Shoprenter

As Innonic has broad experience in VC transactions and alike, it’s even more honour that Absolvo could support them in this great deal for all Parties. Our team provided comprehensive advisory services to the shareholders, including support in reviewing and evaluating the indicative offer, assisting with negotiations on investment terms, purchase price adjustments, due diligence support, negotiating the SPA (Sale and Purchase Agreement) and the SHA (Shareholders' Agreement), coordinating the signing and closing, and other deal related tasks.

“It was an honour to work with such a dynamic team. This deal marks yet another successful cross-border technology transaction and another milestone for Absolvo in the e-commerce space.”

– Lénárd Horgos, Absolvo Consulting.