By KYIV. Nov 24 (Interfax-Ukraine) – The Ukrainian drug delivery startup Liki.24 left the Polish market due to complicated regulations and is developing in the Romanian market, Liki.24 Vice President for Expansion Taras Potichny said at the Forbes Tech conference in Lviv.
"The Polish market has long since learned to regulate many areas in a European way, including technological ones, and to properly investigate violations. That is, if you come to Poland thinking that you did great in Ukraine and you can try this business there, because Poland supports us, this will most likely not be the case," he said.
He clarified that among the businesses in the three countries that generate the company’s revenue – Romania, Hungary and Italy – the first is growing the fastest.
According to Potichny, Romanian consumers are similar in mentality and many parameters to Ukrainian, and prices for many medicines are also similar.
"This morning we made such a balanced decision – Romania is New Black for the Ukrainian market, including technologies," he said.
According to Potichny, regulation in Romania is already European, but not yet in all areas and not as strict as in other EU countries.
Liki24.com is a drug delivery service founded by Anton Avrinsky in 2017. In 2020, the company’s revenue quadrupled to $20 million, according to Forbes Ukraine. At the same time, the company received the largest round of investments in history – $5 million from Horizon Capital, F1V, TA Ventures and others. After the start of the full-scale Russian invasion, the startup’s financial income fell to zero, after which the company decided to strengthen its position in European markets.
