Romanian online application producer sees higher revenues, expands team and HQ

Romanian software producer Zitec upped its sales by 50% in the first half of this year, to some EUR 1.5 million. The company, which makes online applications, generated half of its revenues from local clients, and half from international clients, said Alexandru Lăpușan, CEO and founder of Zitec. The local firm invested some EUR 150,000 in the first half of 2014, to expand its headquarters and financing startups. It managed to land Flanco and PayU among its clients during this period. Zitec plans to continue investments in its team, with EUR 20,000 set aside this year for staff training, including sending them to conferences. Its team expanded by 18 people in the first six months of 2014, up 20% year-on-year. It plans to add 20 more people to its over 100 staff by the end of this year. The bigger team brought about the need to expand headquarters, by taking over another floor in the Phoenix Tower office building in Bucharest. editor@romania-insider.com