Romanian low-code startup aims to draw USD 1 mln on US equity crowdfunding platform
Plant an App, a Romanian startup that develops low-code technologies to help companies develop apps faster, aims to draw up to USD 1.07 million through US equity crowdfunding platform Republic.co. The crowdfunding platform allows any company or individual to invest in tech startups listed on it.
Plant an App's campaign will be active until March 21, 2021, but the company aims to draw USD 500,000 in up to three months and at least USD 250,000 in the first month. The minimum investment is USD 150.
The listing on Republic.co comes after the startup managed to draw financing from 500 Startups, one of the most active venture capital firms in the world.
"After the success with 500 Startups and accelerated growth of 350% in 2020, this performance is a confirmation of our potential, because less than 1% of startups that apply on Republic.co are accepted. The acceptance process was a pitch in several stages, quite difficult, similar to an interaction with an investment fund," said Bogdan Lițescu, founder and CEO of Plant an App.
"This campaign is also special for the situation we are in: we are a Romanian company listed on an equity crowdfunding platform in the US, with a great openness to international investors. We would like to know that we are not alone, but we have not been able to identify other Romanian startups that have gone through this experience," he added.
Plant an App presents itself as the "Swiss Army Knife" of software development and one of the few low-code platforms in the world that allow the whole team in a company to get involved in the app development process. This means that both developers, as well as non-tech users, can use it.
"We are prepared from a technological point of view, and from the perspective of the technical team for a scaling of at least ten times. But to achieve this growth, we need to strongly develop the network of partners who can implement the solutions offered by Plant an App. One of the important factors for this development is the increase in the volume and number of new customers. All these steps need a mature Business Development team, specialized in Enterprise Software, which will make the main destination of the funds raised from investors," said Bogdan Lițescu.
"Now, our main target market is the United States. We are confident that we will be able to attract the necessary investments to develop these projects because low-code technology can be a real success in society and can come with considerable savings of time, human resources and money, but also with high efficiency," he added.
(Photo source: the company)