LitCapital invests in an online P2P/B2C market facilitator

VILNIUS, Lithuania (18 August, 2022 ) —LitCapital, an independent growth capital fund focusing on investments into high-growth companies in the Baltic region, completed the investment in Sena lt UAB (Horizontal Media, “HM”) HM is currently managing a peer-to-peer (P2P) and business-to-customer (B2C) platform for used books in Lithuania and planning to execute an ambitious business plan aimed at growing the business via expansion into new products and services.

HM is currently developing the platform, with close to 130 thousand users. After the initial investment from the entrepreneur - Per Moller, a new strategy to grow through organic development with heavy emphasis on acquisitions was developed. LitCapital investment will be used to implement the plan.

HM intends to supplement the current platform with more sophisticated functionalities for its users and at the same time will expand into other business areas and new products like vertical classified advertisements segments. The fund's investment will make it possible to strengthen HM financially, improve the quality of customer service and develop functionalities. It is expected that HM revenue in 2023 will reach EUR 4m.

“The changing market trends and increasing focus on the circular economy means that more products will enjoy a second even a third, fourth or more lives as people become more used to buying used products instead of new ones. Various online platforms that are ready to help people on this pathway are on the course to reap significant benefits. There are additional complementary business segments where we are going to expand. Some acquisitions are planned too,” said Per Moller, co-owner and CEO of HM.

Šarūnas Šiugžda, Founder and Managing Partner at LitCapital, commented: “Current market trends show that HM is very well positioned to function as a backbone for further market growth. That’s why we are glad to work with the company and Per Moller on the quest to become a horizontally integrated media group“.

Law Firm Walless advised the Company during the investment process.


HM currently is managing a platform for second-hand books where registered users can post free of charge ads of the used books, they wish to sale, trade, or just give away. Currently the company is executing a new strategy to grow through organic development with heavy emphasis on acquisitions in other similar business areas.

About LitCapital

Founded in 2010, LitCapital is a leading dedicated growth capital investor that invests in the development and growth phases of technologically enabled and advanced companies. LitCapital supports entrepreneurs and management teams with not only financial resources, but also expertise and strategic guidance in areas, such as top talent attraction, strategy and business model development, finance, sales, and add-on acquisitions. LitCapital raised its first fund in cooperation with the European Investment Fund (EIF), and the successor LcX Opportunity Fund is backed by INVEGA, along with local pension funds, family offices and high-net-worth private investors.

More information: Šarūnas Šiugžda, Founder and Managing Partner,