January 18 (SeeNews) - Bulgarian digital platform operator Quendoo said on Monday that it has attracted an investment of 750,000 euro ($905,000) from local venture capital fund Vitosha Venture Partners - Fund I.
The investment will allow Quendoo to introduce new products and employ 30 more people at its offices in Sofia and Varna by the end of 2022, the company said in a statement.
Quendoo operates a digital platform that allows owners of accommodation facilities to control and manage reservations and payments, currently powering the booking platform Arendoo.
Documents for the capital increase have been filed but not yet entered into the commercial register, a SeeNews check showed.
Also on Monday, Bulgaria's Fund of Funds (FoF) said that Vitosha Venture Partners - Fund I has invested a total of 5.1 million levs in local startups Eljoy, Hobo Bulgaria, Eirene Studio and Quendoo. Some 4.4 million levs of the total financing are public funds provided by the FoF under the EU-financed operational programme Innovations and Competitiveness 2014-2020, while 700,000 levs are additionally attracted private capital.
($ = 0.8284 euro)