Dragan Josifovski and Dushko Jordanovski, co-founders of Paket.
Our investment in Paket
Published by Roberta Tihomirova and Ivaylo Simov.
It all started back in 2016, when Dragan, co-founder and CEO at Paket, was doing his master’s at Imperial College in London. During that time, London was like an e-commerce wonderland – you are walking down the street and see these flashy vans from Ocado, Tesco, Sainsbury’s, all making deliveries. Dragan remembers thinking, “What’s the magic sauce here? Why isn’t this a thing back home in Macedonia?”
After his studies, he headed back home with e-commerce on his mind, knowing that he wanted to dive into something groundbreaking and was ready to take the leap. He set up the first Paket shop, partnering with a local supermarket chain in Skopje, starting with just one delivery van. But things took off quickly.
Today, Paket’s vision is to transform commerce in the Balkans, making smart commerce an everyday norm, and allowing people to effortlessly meet their needs and focus on what truly matters to them.
Online grocery delivery,
which peaked during COVID lockdowns, saw a remarkable year in 2021 as both new ventures and established retailers competed to meet the needs of customers. In response, traditional grocery retailers swiftly established logistics, warehouses, and online platforms, enabling customers to purchase their daily essentials and have them delivered right to their doors.
The global online grocery market’s astounding USD 285.70 billion valuation in 2021 is projected to grow at an annual rate of 25.3% from 2022 to 2030. Yet the interesting bit lies in the geographical data – Eastern Europe is experiencing significant growth, with North Macedonia showing a 37% rise in B2C e-commerce. In a market expected to hit €54.30 million by 2023 in North Macedonia alone, Paket is well-positioned to ride this wave.
The Western Balkan region
has been waiting for a leader in the online grocery delivery sector, especially one that can provide a seamless last-mile delivery experience. Interestingly, this region lacks online grocery players that employ the eBag model, which we have seen to be robust in the longer term.
Traditional grocery stores are stepping into online delivery, but their lack of specialized logistics networks is evident. Meanwhile, quick commerce apps like Glovo and Wolt are also venturing into the grocery scene but fall short in terms of inventory variety and user experience. There is a glaring gap in the market, waiting for an integrated, customer-focused solution.
This is where Paket comes,
a one-stop-shop for all grocery needs, with dynamic pricing and express one-hour delivery slots. In an era when convenience is king and consumer expectations are higher than ever, Paket is raising the bar in customer service, inventory management, and most notably, last-mile delivery. Whether it’s fresh produce from their well-stocked warehouse or a specialty item from third-party vendors like local bakeries and butchers, Paket has it all. And it’s not just about food – they have diversified into categories like pharmacy, toys, DIY, and garden items.
The heart of Paket lies in their customer-centric approach. They have not only established a reliable, self-sufficient last-mile delivery system but also consistently scored high in customer satisfaction. After dominating the North Macedonian market, Paket’s team plans an expansion to the rest of the Balkan countries.
Coincidence or not,
Dragan Josifovski (co-founder and CEO) met both Dushko Jordanovski (co-founder and CTO) and our Partner Valeri Petrov at the same event, but two years apart. Back in 2020, Dushko and Dragan were both speaking at the Pitch, Match, Grow conference…and they just clicked.
A year later, Dushko pops up with an idea to shake things up and give Paket a tech makeover. For Dragan, the dream has always been to see Paket grow big but to get there he knew it needed some serious tech innovation. That’s where Dushko came in. When they sat down at the Paket office, everything just fell into place.
The duo behind Paket combines vision, operational excellence, and technological prowess. Dragan brings a robust background in marketing operations and consulting. Dushko has proven his expertise in IT through his previous venture, which raised $27M from giants like JP Morgan and Goldman Sachs. By bringing convenience, variety, and a personalized shopping experience into every North Macedonian household, they are setting a new standard for what online grocery shopping can be.