RO investment fund ROCA X invests EUR 150,000 in new telecom startup

Romanian investment fund ROCA X, which focuses on startups in disruptive industries, announces it poured EUR 150,000 in the local startup Benefito Mobile.

The startup presents itself as the first virtual mobile operator (MVNO) in Romania that will launch a prepaid card that will reward (will generate credit to be used for telecom services) when users purchase products and services from partner companies.

ROCA X will finance the commercial launch of Benefito Mobile, planned for the second quarter of this year.

Benefito Mobile aims to be the most attractive prepaid mobile service and an innovative customer loyalty mechanism in the retail industry.

The startup's founders estimate approximately 37,000 users and a turnover of EUR 700,000 this year.

They also estimate that the business will become profitable after one year, and reach a turnover of EUR 15 million in five years.

"ROCA-X aims to invest in disruptive startups at the beginning of the road, and Benefito Mobile is a representative business in this respect. It brings a completely new business model in our country, but which has been working very well for many years in foreign markets," said Alexandru Bogdan, CEO of ROCA X.

"The founders, Marian Velicu and Marius Ionescu, two of the most reputable specialists in Romanian telecom, bring valuable experience to the table. Studies show that most successful startups are founded by entrepreneurs with solid experience in the field, and Benefito has all the ingredients to be a successful business and has received our vote of confidence. Our investment promises a very good return with accelerated growth," he added.

(Photo courtesy of the company)