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Nov 16, 2023 16:59 EEST
November 16 (SeeNews) - Bulgarian digital accelerator platform developer Icanpreneur said on Thursday that it has achieved a post-money valuation exceeding 5 million euro ($5.4 million) in its pre-seed funding round led by Sofia Angels Ventures (SAV).
The start-up raised 830,000 euro which it plans to deploy to accelerate the development of Icanpreneur as a product and implement a go-to-market strategy over the next 12-24 months amid higher-than-expected organic growth to date, Icanpreneur said in a press release.
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Icanpreneur has now more than doubled its valuation since its 200,000 euro angel round last year.
In the latest round, Icanpreneur secured investments from Bulgarian growth capital provider MFG Invest, part of Management Financial Group, along with existing and new angel investors. Among these are Pressian Karakostov, co-chair of the Endeavor Bulgaria board; founder and managing director SK-PSD Group and VertoDigital founder Zoran Arsovski. MFG Invest alone contributed 100,000 euro.
Icanpreneur aspires to tap into the growing entrepreneurial trends, especially in AI, within the Central and Eastern European, wider European and US markets. The fresh funds will significantly enhance the company's ability to pursue these opportunities more assertively, according to the statement.
The start-up's software product facilitates a more systematic approach for entrepreneurs from the initial idea to the successful market launch of a new business or product.
($ = euro)
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