Bulgaria's MFG Invest injects further 100,000 euro into Icanpreneur

The financial injection, made in the form of a convertible loan, brings MFG Invest's total equity investment in the digital accelerator platform to 200,000 euro, the firm said in a bourse filing on Thursday.

MFG Invest invested 100,000 euro into Icanpreneur in November as part of the platform's 830,000 euro pre-seed funding round. The funds were earmarked to accelerate the development of the platform as a product and implement a go-to-market strategy over the next 12-24 months amid higher-than-expected organic growth.

Icanpreneur has developed proprietary software designed to guide users through the development of new businesses or products. The accelerator-as-a-software product caters to both technology startups and product teams within large companies.

As of 1504 CET on Friday, shares in MFG Invest traded 8.61% higher at 3.28 levs ($1.80/1.68 euro) on the BEAM growth market of the Bulgarian Stock Exchange.

($ = 0.9308 euro)