Growceanu business-angel platform seeks EUR 0.3 mln for expanding abroad

The Growceanu investment platform, which gives business angels the chance to select preferred projects, aims to attract EUR 300,000 in a round that takes place exclusively on its own platform, starting on June 9. The founders also support the round with an additional EUR 50,000.

The funds raised will be used to develop the international marketing strategy, expand the executive team, increase the number of business angels registered on the platform, as well as to test new high-performance business models.

Within the next 5 years, Growceanu aims to capture 1.5% of the early-stage business angel investment market in Europe. As an intermediate step, the angel platform intends to reach about 10% of this segment in the Romanian market within the next two years, facilitating annual investments of over EUR 7 mln on the platform and resulting in a turnover of EUR 500,000.

For 2022, the business angel investment platform targets transactions exceeding EUR 1.66 mln.

The angel investment platform targets investors with expertise in at least one vertical and a minimum budget of EUR 40,000 for investments in early-stage tech startups. Thus, the platform aims to diversify its range of expertise to invest in new areas and reduce the risk of investment.

Currently, Growceanu brings together a community of over 100 business angels, 70 more than last year.

(Photo source: Shutterstock)