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Technology startups from Romania, the Republic of Moldova, Serbia, Croatia, Slovenia and Bulgaria will be able to get funding through GapMinder Fund II, the EUR80 million investment vehicle launched by GapMinder Ventures, the venture capital fund management company that invests in technology startups created in Romania and Eastern Europe, on February 14.
Active Plus, a fund managed by Swiss Capital Asset Management, has reduced its stake in investment fund Lion Capital (LION.RO) from 5.12% to 0.19%, Lion said in a report to the Bucharest Stock Exchange (BVB.RO).
Telekom Romania Mobile (TKRM), the fourth mobile telephony operator in Romania, posted EUR77.5 million revenue in the fourth quarter of 2023, up 6.2% year-on-year, mainly reflecting the sharp increase in other revenue due to revenue recognition of ICT projects in the quarter, the operator’s owner, Greece’s OTE, said in financial results report.
DRUID AI, the tech startup founded by entrepreneur Liviu Dragan in 2018, in 2023 registered annual recurrent revenues worth $13 million.
Deals with commercial real estate assets worth above EUR600 million are currently under advanced negotiations, so that the volume traded in 2023 is likely to be matched in the first half of the current year, in line with data released by real estate consultancy Cushman & Wakefield Echinox.
Tech company 2Performant Network, the biggest player on Romania’s affiliated marketing market, reported net profit of RON869,432 at the end of 2023, vs RON258,454 profit in 2022.
Raiffeisen Bank Romania in 2023 posted income worth RON3.7 billion, up 16%, and net profit worth RON1.7 billion, 39% higher than in 2022.
Turkey’s Karsan Otomotiv Sanayi Ve Ticaret A.S. has gained a contract worth RON64.2 million (around EUR13 million) with Satu Mare city hall for the delivery of 17 electric buses and the associated charging stations.
Victor Stinga, the interim CFO of Revolut, said the fintech wants to launch mortgages and savings accounts as a rising number of European clients, including Romanian ones, are starting to see Revolut as a main banking account, an alternative to traditional banks or a service that is complementary to them.
Belor Romania Societate pe Actiuni, headquartered in Galati, part of German group Belor, expects EUR48 million turnover in 2024, lower than in 2023, when it generated EUR54 million.
Road freight carrier Trans SESE, headquartered in Cluj-Napoca, the local subsidiary of Spanish group SESE, currently has 300 jobs available for truck drivers.
China’s KSHG Auto Harness currently has 200 jobs available at the plant of industrial park CTPark Deva II of Hunedoara county.
The wholesale unit of Dona group, one of the largest on Romania’s pharma market, posted growth twice the market average in 2023, overshooting the RON2 billion threshold. The investment budget for 2024 stands at EUR2 million for the three warehouses.
The salt mines managed by Salrom – Slanic, Targu Ocna, Cacica, Ocnele Mari and Praid, generate 10% of the revenue of the company. Salrom posted ROM498 million revenue in 2022, according to the latest public data available.
betahaus, a company that operates coworking spaces in Berlin, Hamburg, Barcelona and Sofia, is entering the Romanian market with the opening of a hub in the Premium Plaza office building in Bucharest, owned by GTC, one of the leading real estate investors and developers in the CEE and SEE regions.
La Mama restaurant chain started by entrepreneur Catalin Mahu 25 years ago ended 2023 with 15% higher revenue than in 2022. Trotter Restaurant, the operator of the business ended 2022 with RON22.7 million revenue, the highest level after 2015, according to public data.
The total number of insolvency proceedings in Romania reached 6,650 in 2023, flat on the previous year, when companies started 6,649 new insolvency proceedings, the latest Coface Romania survey shows.
Agroland Agribusiness, a Romanian entrepreneurial company part of Agroland group, specialized in the sale of agricultural inputs, for 2023 reported operating revenues worth RON57.1 million, down 10% from 2022, and RON1 million net profit, 56% lower than in 2022.
Maxagro group, an entrepreneurial business set up 30 years ago by brothers Zifceak and that currently has a cultivated area of above 10,000 hectares in western Romania and one of the biggest cow farms in Banat, has an investment budget of around EUR5 million this year, which will support the development of the animal husbandry unit.
Software producer Wizrom plans to grow by acquiring other players on the market.19501 items