We have signed a 750,000 Euro investment contract.
After a 500,000 Euro startup competition prize last year, an additional 250,000 Euros have also been secured from the Austrian SpeedInvest, Evli Bank plc and a consortium of angel investors (Enbritely Holding).
We timed the announcement by Pioneers Festival Budapest, which is the local event of the Vienna based Pioneers Festival, one of the largest and most well-known entrepreneur and innovation conferences in Europe which also happens to be the first stop in our success story.
Everything started at the Pioneers Budapest Festival. One year ago we entered the pitching competition and today we are signing an investment contract with two great people, right at the same place. Getting this far is largely due to our successes at Pioneers, then Startup Sauna and Slush, where we won the Slush 100 pitching competition in November. Following the competition, we were offered a 500,000 Euro investment from Evli Bank plc and the business angel consortium that gathered at the event.
We are really happy that the product we are developing is successful enough that both SpeedInvest, Enbritely Holding and Evli Bank plc saw the business opportunity in it. In our opinion the fight against online advertising-fraud is a field that beyond the business aspect is something we can proudly represent.
The funds the international investors have offered, we will apply to purposes mostly towards marketing, to accelerate international growth, human resources. Other than the aforementioned sum the investors also provide support to us in business development.