Software Group has closed a €3,2 million investment round led by the newest local fund BrightCap Ventures. The deal will support the company’s growth, extending of its product portfolio and strengthening positions in the banking and telecom sector.
Software Group is the first company BrightCap Ventures decided to support in Bulgaria and the commitment is in form of a convertible loan. Among the main reasons to be selected for funding is the team’s strategy to grow product sales in new geographies and enlarge product offering for more established financial service providers, such as commercial banks and telecoms.
The investment will fuel the expansion of Software Group and support the transition to the new SaaS business model that the software provider offers to its customers.
About Software Group
Software Group is a global technology company specialized in the delivery channel and integration solutions for institutions that provide financial services. Founded in 2009 and headquartered in Sofia, Bulgaria, it currently serves a worldwide client base in more than 65 countries from 9 regional offices located in Australia, Bulgaria, Egypt, Ghana, India, Kenya, Mexico, the Philippines and the USA. Software Group helps financial service providers digitize their business and successfully go through the process of digital transformation, extend their outreach and improve operational efficiency.
About BrightCap Ventures
BrightCap Ventures is an early-stage venture capital firm investing in companies with defensible technology and significant global growth potential. Headquartered in Sofia, BrightCap deploys an extended network in Silicon Valley and Tel Aviv to assist its portfolio.