March 22 (SeeNews) - South Central Ventures (SCV), a venture fund focused on companies in the Western Balkans, said it has completed a 1 million euro ($1.08 million) investment round in Serbian business information company Cube Risk Management Solutions.
The transaction represents the eighth and largest investment of SCV in Cube so far and is intended to support the further development of the innovative business data platform of the Serbian company, the venture fund said in a statement on Tuesday.
"We are aware of the rapidly growing need for data availability and customers’ data-driven decisions. That’s why after onboarding more than 1,000 clients from diverse business sectors, we are moving towards a universal platform that makes us more than just a premium financial data provider," the co-founder of Cube, Marko Radojcic, said in the statement.
SCV international network and their investment will enable Cube to grow stronger and faster and the company is are grateful and excited about this, Radojcic said.
"Business decisions are becoming increasingly data-driven and companies are looking for ways to be better informed about opportunities and risks. Cube is addressing this problem and enables their clients to streamline processes in sales, risk management and compliance," the managing director of SCV, Jan Kobler, explained.
Cube was founded in 2012. The company enables risk assessment, reporting and monitoring services, market analysis, competition and trade intelligence, as well as sales tools to a large number of companies active in Western Balkans. Cube has 30 employees.
($ = 0.9260 euro)