Voli Trade is one of Montenegro’s leading food retailers, with a network of 76 multi-format stores serving customers nationwide. The company’s core business is grocery retail, and it is augmenting this with an expanded logistics backbone: a third distribution centre is being built in Podgorica to enhance supply-chain efficiency. Voli is also embarking on a broad digital-transformation initiative that includes a full digital assessment, strategic road map and strengthened cybersecurity measures. Sustainability is central to the expansion, with the firm committing to an EPC B energy-efficiency rating—one level above Montenegro’s national standard—for the new facility. Voli’s longstanding partnership with the EBRD has provided both equity and debt financing since 2009, and the bank became a minority shareholder in 2015. In June 2023, Voli secured a €4 million loan from the EBRD to install solar panels and EV-charging stations, underscoring its efforts to cut carbon emissions. The latest equity injection further solidifies the retailer’s financial footing while enabling operational upgrades aimed at long-term competitiveness.

Total raised

$36M

Funding rounds

2

Latest round

Equity

Latest activity

Dec 2025