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Bulgaria's HR Capital to invest in Cyprus-based QCommerce

Bulgaria's HR Capital to invest in Cyprus-based QCommerce Deal, business, corporate contracts

SOFIA (Bulgaria), April 26 (SeeNews) - Bulgarian investment company HR Capital [BUL:HRC] said it signed an agreement to invest 150,000 euro ($160,300) in Cyprus-based company QCommerce.

The investment will take the form of a convertible loan for a period of 12 months, HR Capital said in a bourse filing last week.

QCommerce is focused on the development of technology solutions for orders and fast delivery of a wide variety of foods, beverages, and other products. The company has its own mobile application for express deliveries called PopMarket, HR Capital said.

Earlier this month, HR Capital said it invested 250,000 euro in local online grocery shop by subscribing for 730 ordinary shares from the capital increase of the online shop's operator - local company Convenience. HR Capital will strictly adhere to its publicly announced investment policy for 2022 - participation in innovative technology companies, as well as increasing its interest in the most successful investments to date, the company also said back then.

In March, HR Capital made investments in US-based artificial intelligence (AI) firm OhmniLabs, digital industry news outlet The Recursive, and domestic revenue operations and analytics growth platform Releva.

HR Capital made its debut on the SME growth market BEAM of the Bulgarian Stock Exchange in January following a successful initial public offering in December.

($ = 0.9359 euro)

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