"BrightCap Ventures" Capital Fund to Invest EUR 2.65 Million in "Software Group BG"

The newly created venture capital fund "BrightCap Ventures" made its first deal with the Bulgarian technology sector. The selected company for the EUR 2.65 million funding is "Software Group BG". The new resource is expected to support the company's development and expansion, Capital reported.

“BrightCap Ventures” is the sixth fund of the JEREMIE program of the European Investment Fund and has a resource of EUR 25 million. The aim of the fund is to finance small and medium-sized start-ups and more advanced companies in the technology sector. "Software Group BG", in turn, develops technology solutions and software for microfinance institutions operating in economies in Africa, Latin America, and Asia. The company is present in more than 65 countries.

"BrightCap Ventures" invests in “Software Group BG” through a convertible EUR 2.65 million loan. This financial instrument can be converted into shareholder participation in the company later.

The revenue of Software Group BG for the past year was BGN 16.8 million. The company works mainly by providing licenses to its clients but the idea behind the new investment is to introduce a new model in the company – “subscription“. The licensing model will remain the option for customers, but the focus will be on offering SaaS (Software as a Service).

Petya Petrova

Petya Petrova is a journalist, believer, and traveler.

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