Romanian outsourcing group Fortech is looking to invest in local startups

Fortech, one of the biggest Romanian providers of outsourcing services for software development, has launched a new investment branch, Fortech Investments, and plans to invest in at least 15 local startups in the next two to three years.

Fortech Investments says it doesn't just offer capital, like most investment funds, but also the option of product and business development for ideas with great potential or of becoming partners with specialists from different fields who want to start a business.

"Nowadays, startups and entrepreneurs have much more diverse needs. That's why we operate in four different directions, depending on companies and entrepreneurs' degree of involvement and maturity. We want to create products internally, but, at the same time, to help others turn their vision into reality in the form of Joint Venture partnerships," said Valentin Filip, Managing Director Product Investments of Fortech Investments.

He added: "For startups, we have two rounds of financing - Pre-Seed or Seed - or we offer them the exit option, and we receive them within the Fortech Group, where they will be able to focus, as they should, on their business needs, without having to take care of resources, people or limited time."

Over the last five years, Fortech has invested more than EUR 4 million in 13 tech startups, most of them located in the United States. In the last year, however, it has focused on the Romanian market. Its latest major investment was in the telemedicine startup Telios, with an amount of EUR 400,000.

In the next two to three years, Fortech Investments plans to invest capital in over 15 tech startups and conclude at least 3-4 Joint Venture partnerships, especially in industries such as Health, Finance, Education, Transportation, or Production.

(Photo source: the company)