The Soprano ice cream shop chain, which has operated in Lithuania for 18 years already, has finished its first seed funding round (A round) and plans expansion into Europe. The network, which is comprised of seven ice cream shops, saw investment by Antanas Guoga and entrepreneur Vytenis Mažiulis with both bringing equal investment. Mažiulis will also take up the Director position of UAB Ledai enterprise, which controls the Soprano brand.
© Shutterstock

“I have faith in the business model of Soprano and I want to help this business, which is very well known in Lithuania to go global. I think this can be achieved in a few years with the experienced team, which will now be supplemented with new talent. We have a real chance to attract international investors in the second seed round,” said Antanas Guoga.

According to Mr. Mažulis the first round funds will be used for the optimisation of chains operations, refurbishment of the shops and preparations for expansion to other European cities.

“We will put customer satisfaction in the forefront of our everyday work by strengthening our staff. Everything starts with us and the energy we spread in our workplace and towards our clients. We are seeking that Soprano shops would be visited daily not only during summer season, but throughout the year,” said Vytenis Mažiulis

Second round seed funding will start in the near future. Second round (B round) funds will be allocated towards the chains expansion to Latvia, Estonia, Poland, Germany and other countries. It is expected to raise around 5 million Euros during B round.

At the moment Soprano shops operate in Vilnius, Kaunas and Klaipėda, the network has 46 employees and 1-2 million Euros turnover.

Įvertink šį straipnį
Norėdami tobulėti, suteikiame jums galimybę įvertinti skaitomą DELFI turinį.
  • 1
  • 2
  • 3
  • 4
  • 5
(0 žmonių įvertino)
Leave a comment
or for anonymous commenting click here
By posting, you agree to terms
Read comments Read comments

Norwegian IT company Omega to double headcount of Klaipėda office

In 2006, the Lithuanian port city of Klaipėda welcomed the Norwegian company Omega, which develops...

Metro. Who will be the first?

World experience shows that the longest and most expensive metro construction phase is a political...

Wellness start-up Urban establishes development office in Lithuania

Urban was founded in 2014 by Jack Tang and Giles Williams to provide easy and affordable access to...

Profits in Lithuanian banking sector highest since 2007 (1)

Lithuanian banks and branches of foreign banks in Lithuania earned almost 358 million euros (406...

Alternative lending in Baltics is taking market share from traditional banks and credit unions

In the ever-growing European alternative finance market, Lithuania - together with other Baltic...