MCI.TechVentures has successfully completed its full exit from its investment in Answear.com, one of the leading fashion e-commerce platforms in Central and Eastern Europe. The fund sold its entire stake—3,666,355 shares, representing 19.32% of the company’s share capital—through an Accelerated Book Building (ABB) transaction, achieving a nearly threefold cash-on-cash return.
MCI’s investment in Answear was carried out in close collaboration with the company’s founder and CEO, Krzysztof Bajołek. During the investment period, Answear evolved into a regional e-commerce leader, driven by an ambitious growth strategy that included international expansion, consistent product offering development, and the onboarding of new brands, including through a buy-and-build acquisition strategy.
This transaction aligns with MCI’s strategic focus on realizing returns through the sale of mature assets and reinvesting capital in new projects within the technology sector. The fund plans to carry out further exits from portfolio companies in 2025.
“Answear is a great growth story. The company is growing significantly faster than its competitors, with annual revenue increases of 15–20%. Tomasz Czechowicz also played a substantial role in the project over the years. The company successfully executed a key stage of its transformation toward premium brands and completed the integration of PRM, which impacted last year’s results. Answear has a very strong management team that has set ambitious targets for the coming years, and I’m confident they will achieve them. Today’s transaction attracted strong interest and was a great success. The company brought in excellent financial investors—leading Polish investment funds. This clearly shows the market’s trust in both MCI and Answear,” said Paweł Borys, Managing Partner at MCI Capital and member of Answear’s Supervisory Board.
In 2024, Answear generated over PLN 1.5 billion in revenue, marking a 19.8% year-over-year increase. The company continued this momentum into Q1 2025, reporting revenues of PLN 352.5 million (+22.2% y/y) and EBITDA of PLN 9.9 million—almost three times higher than the same period last year. Improved profitability was driven by higher gross margins, stabilized marketing costs, and a 5.6% year-over-year increase in average order value.
Answear also delivered record-breaking operational results in Q1 2025:
- 2.53 million active customers (+22% y/y)
- 82.2 million website visits (+8% y/y)
- Conversion rate increased to 1.68%
According to its employee stock option plan (ESOP), Answear targets dynamic EBITDA growth in the coming years: PLN 80 million in 2025, PLN 100 million in 2026, and PLN 120 million in 2027. The company also aims for ambitious share price milestones of PLN 40, 50, and 60.
By remaining among the company’s shareholders and committing to a 9-month lock-up period, MCI reaffirms its confidence in Answear’s growth prospects and ability to meet these strategic objectives.
Source: CEO.com.pl
