Digital solutions provider IAI Group in Poland set to be acquired by Montagu, a global investment firm.
In a significant move, private equity firm Montagu has agreed to acquire IAI Group, a leading digital retail solutions provider in Poland. The acquisition, pending regulatory approval, marks a transition in ownership from MCI Capital and the founders of IAI.
Founded in 2000, IAI Group is recognized for its e-commerce platform, IdoSell, which caters to mid-to-large-sized merchants. Under MCI Capital's management since 2018, IAI has experienced strong growth and secured a leading position as Poland’s top digital retail solutions provider, serving around 13,000 stores across Poland and Hungary through its brands IdoSell, Atomstore, and Shoprenter.
During MCI's ownership, IAI achieved a compound annual growth rate (CAGR) of over 20% in net revenues from 2022 to 2024, nearly sextupled its scale, processed a GMV exceeding PLN 20 billion in 2024, and expects revenues of approximately PLN 300 million in 2025. The company’s strong SaaS metrics—including very low churn and high customer retention—reflect its robust technological foundation and market relevance.
IAI’s core product, the IdoSell platform, supports medium to large merchants with comprehensive e-commerce functionalities, including marketing, logistics, payments, and international sales (with around 20% of merchants selling abroad in markets like Germany, Czech Republic, and France). MCI’s strategic acquisitions of Shoprenter and AtomStore expanded IAI’s portfolio and regional presence.
Montagu’s acquisition represents a significant investment in the digital retail ecosystem, highlighting IAI’s critical role and emphasizing growth and scalability potential. Montagu plans to integrate IAI into its digital infrastructure portfolio, aligning with the firm’s investment strategy. The acquisition likely brings new growth capital, strategic support, and international expansion opportunities that should accelerate IAI’s development beyond its current Central and Eastern Europe footprint.
Tomasz Czechowicz, CEO and Managing Partner at MCI Capital, views the partnership with Montagu as an exciting new chapter in IAI's growth story, with a shared vision and combined expertise for achieving strong growth. Michał Paschalis-Jakubowicz, Chief Executive Officer at IAI Group, remains optimistic about the partnership, emphasizing the opportunity to achieve strong growth with both current and future clients.
Daniel Fischer, Partner at Montagu, expresses optimism about partnering with IAI's management, viewing IAI's ecosystem as crucial to digital retail operations in Central and Eastern Europe. Montagu, a private equity firm managing €14 billion in assets, is listed on the Warsaw Stock Exchange and manages assets exceeding PLN 2.7 billion.
Montagu plans to support IAI in further developing its capabilities, aiming to enable the business to fully harness market tailwinds and realize its full potential. Jan Stypulkowski, Partner at Montagu, highlights the success of their investment strategy in building IAI into a leading SaaS provider for e-commerce in the Central and Eastern European region.
In summary, under MCI Capital, IAI Group established itself as a regional SaaS market leader displaying strong revenue and scale growth driven by innovation and acquisitions. Montagu’s acquisition signals confidence in IAI’s market position and growth trajectory, positioning the company for further expansion and technological development within Montagu’s broader digital infrastructure investment focus.
The private equity firm Montagu's acquisition of IAI Group, a prominent digital retail solutions provider in Poland, signifies a significant investment in the digital retail ecosystem, leveraging IAI's robust technological foundation and market relevance in the e-commerce sector. Montagu, managing €14 billion in assets, aims to further develop IAI's capabilities, enabling growth and expansion within their broader digital infrastructure investment focus.
This transaction, following IAI's strong growth under the management of private equity firm MCI Capital, marks an exciting new chapter for IAI Group. Montagu's strategic support and international expansion opportunities are expected to accelerate IAI's development beyond its current Central and Eastern European footprint, strengthening its presence in the financial and business spheres.
