17th Jun 2019 10:38
(Alliance News) - Bank of Georgia Group PLC has bought a "leading" Georgian e-commerce platform, the company announced on Monday.
The platform, extra.ge, allows consumer-to-consumer and business-to-consumer sales through its website and on social media. It currently has 350,000 visitors a month, with 80,000 registered buyers and sellers and around 100,000 products and services listed.
Bank of Georgia did not give any financial details for the acquisition.
Chief Executive Archil Gachechiladze said: "I am very pleased we continue to successfully expand our footprint in digital platforms that create a great value for our clients. extra.ge will become our new digital offering built around the simplicity and convenience of a value-enhancing single umbrella model, which enables the stakeholders to make the best deals with each other, and rely on superior financial services offered by Bank of Georgia.
"Bank of Georgia's retail and micro, small and medium-sized enterprise clients will enjoy the excellent opportunities of a new consumer experience and doing business in a dynamic and flexible digital marketplace."
Shares were down 0.7% on Monday morning at a price of 1,610.00 pence each.
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Bank Of Georgia Group