Bucharest, September 7th, 2021: Fortech Investments, the new investment division launched by the software development company from Cluj-Napoca, wants to get even more involved in the field of technology, both nationally and internationally. Since its launch and until now, three investments in national start-ups have already been made, such as Licenseware or Telios, but also in a start-up in the United Kingdom, RacketPal. The process by which start-ups are analyzed has an average duration of approximately 10 days and consists of three stages, in which a dedicated team of the division participates.

"This year has been a busy one for us. We have already managed to complete three rounds of financing worth over 500,000 euros, of which we are very proud. We always looked at innovative solutions when analyzing start-ups and the market offer. In addition to the element of business and profitability, we have always looked for products that solve the real needs of companies, but also of ours. Basically, we looked for solutions that we could become new customers of", says Valentin Filip, Managing Director of Product Investments at Fortech.

Innovation, the main criterion for start-ups that want to receive financing

Therefore, among the fields targeted by Fortech Investments are Education, Transport, Production, Financing, and Healthcare, but the opportunities are open to all technology start-ups that can make a major contribution to society through innovation.

”We believe that a solution is innovative when it manages to make effective use of the three major forces that exist in any market - social, economic, and technological forces. And these five fields we are talking about are in the forefront now due to the context created by the pandemic too ", adds Valentin Filip.

In other words, the investment division wants to support the technological solutions that can mobilize these three forces in the market and put them into practice with a strong business model to bring positive changes in people's lives and in the activity of companies.

Fortech Investments, more than an investment fund

Precisely because it focuses on innovation, and this often involves uncertainty and flexibility, the software company from Cluj has decided to be more flexible in terms of options it offers to founders and entrepreneurs.

In addition to the Seed and Pre-seed capital options they offer, they can also be actively involved in the development of start-ups, if these are the needs, and make available all the resources they have for the founders to achieve their business objectives.

An example of this is the collaboration with Licenseware, the ecosystem of software license management applications, in which Fortech experts have made a major contribution to the technical development of the product.

"Not only Fortech Investments offered us smart money, but also their technical expertise, which gives us a huge strategic advantage. The partnership also means that they can help us increase our sales and improve the development process while maintaining control over the company and, obviously, over our initial vision, ”explains Alex Cojocaru, CEO of Licenseware.

The same thing happened in the collaboration at the beginning of the year with RacketPal, the London start-up founded by Romanians, that connects tennis, badminton, and squash players, through an application through which over 5,000 matches have already been organized. The founders noted that besides the technical expertise it brings to the table, Fortech does not abuse laborious bureaucracy or hard-to-manage terms and conditions, which are usually present in such agreements.

"Fortech Investments had, from the very beginning, a very good understanding of our needs, and the process was free of obstacles, without those investment sheets that you find in most investment processes and without too many terms and conditions. That's why they proved to be a strategic investor that we really needed to be on our side ", says Robert Rizea, Co-Founder of RacketPal.

Fortech Investments works via a rigorous process of evaluating start-ups and a team dedicated to their development

Fortech Investments has formed a professional team that audits the investment opportunities it identifies. Entrepreneurs and start-ups that want to apply for funding receive assistance throughout the audit and contracting process.

In the selection process, start-ups go through three stages of evaluation, depending on their stage. For start-ups that are in an advanced stage, the analysis process can take up to 10 days.

First, market research is performed, with the help of PEST analysis, a tool that allows those in the team to analyze the political, economic, and social context in which the start-up develops. Then, the existing solutions and the competition are analyzed and, later, also the business model and the technical characteristics of the product. After the three stages, a complex report is made, in the form of two presentations, which are sent to all shareholders. The opportunity is then assessed while the team organizes the investment round.

The investment process can take up to 2-3 weeks and is flexible, depending on the business needs of the founders and companies. The members of the Fortech Investments team, as well as other partners of the company, will follow the progress and will ensure the achievement of the business objectives.

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About Fortech Investments

Fortech Investments is the investment arm of Fortech, a Romanian software development company that has been operating on the market for almost two decades. Its goal is to support entrepreneurs and start-ups with funding, partnerships, and smart money, at any stage, to help them achieve their business goals.