Liki24 raises $5 mln from Horizon Capital to enter European markets

 Liki24, a Ukrainian drug search and delivery platform, has raised $5 million from Horizon Capital to expand its business to European markets.

Liki24 also raised funding from other investors, the press office of Horizon Capital said on Thursday. The total amount of attracted financing is $6 million.

"Our business model proved to be successful in Ukraine, helping customers access more affordable medicines and convenient delivery. This capital raise will enable us to expand our team as well as extend our winning model to the Polish market and finance further international expansion at a time when safe and rapid delivery of medication is critical to the wellbeing of society," the press-release says with reference to Anton Avrinsky, CEO and founder of Liki24.

He also noted that the substantial size of the market and untapped potential creates tremendous opportunities for Liki24. "We are thrilled to launch our global expansion with our entry to Poland this past month," Avrinsky said.

"We look forward to contributing to the Company's continued growth in the years ahead," Lenna Koszarny, Founding Partner and CEO at Horizon Capital, said in turn.

Horizon Capital is the leading private equity firm in Ukraine and Moldova backed by over 40 institutional investors, managing four funds with assets under management of over $850 million and a tenure of 25 years in the region. The firm is an active, value-added, growth equity investor, investing alongside visionary entrepreneurs leading transformational businesses in Ukraine and the near region.