Bulgaria's MFG Invest puts 100,000 euro into Icanpreneur

MFG Invest will inject an additional 100,000 euro into the company by the end of January, the investment firm said in a bourse filing.

Icanpreneur is valued at 4.2 million euro in the current pre-money round. The company has developed proprietary software, which has been operational since April, that guides entrepreneurs from the initial idea to the successful market launch of a new business or product.

The software uses established methodologies and business practices to validate ideas, products and markets. The accelerator-as-a-software product caters to both startups and product teams within large companies.

In June, Icanpreneur said it launched a pre-seed funding round with the aim of raising 1.2 million euro to further boost its organic growth, which exceeded expectations. The company previously secured angel funding of 200,000 euro about a year ago, MFG said.

MFG Invest raised 4.04 million levs ($2.21 million/2.07 million euro) in an initial public offering last December, saying it would use the proceeds to invest in new companies or boost investments in portfolio firms. Last month, the company said it invested 150,000 euro in German financial services platform Tapline UG.

Shares in MFG Invest last traded on Tuesday when they closed at 3.00 levs on the BEAM growth market of the Bulgarian Stock Exchange, bourse data show.

($ = 0.9358 euro)