Romanian tech entrepreneur invests in local IT firm to help it expand abroad

Andrei Pitis, one of the best-known Romanian tech entrepreneurs and investors, has joined local software company Softbinator Technologies as Chairman of the Board.

Pitis also bought an undisclosed stake in the company through his investment vehicle Simple Capital.

The partnership aims to help Softbinator Technologies consolidate its sales and expand its international client base. The company plans to expand in the US, Israel and Japan.

“I consider that the real solution for the development of product companies in Romania, respectively their success in the global market, is a dedicated and motivated entrepreneur. I am happy to contribute with Daniel and the Softbinator Technologies team to the company's development plans on the global market. The common vision on the development of a company of this type represents the basis of our partnership," said Andrei Pitis.

The shareholders of Softbinator Technologies are now Daniel Ilinca, Alex Dianu, Andreea Popa, Marius Baisan - each fulfilling different roles within the company - and Simple Capital, represented by Andrei Pitis.

Softbinator Technologies is a Romanian company specialized in Product Development and R&D, with expertise in blockchain and Artificial Intelligence. It develops digital solutions by Fintech, MedTech / HealthTech and EdTech for clients in Europe, North America and Asia.

Softbinator Technologies currently has over 80 IT specialists in the two offices in Bucharest and Constanta. In 2019, the company had a turnover of RON 6.2 mln (EUR 1.3 mln) and a net profit of RON 2.2 mln (EUR 0.46 mln), according to official data from the Finance Ministry.

Andrei Pitis recently left the position of vice president of the US company Fitbit, which he had held after selling his company Vector Watch for USD 15 million.

(Photo source: Pixabay.com)