Stephan Morais
Managing General Partner @ Indico Capital Partners
Lisbon, Portugal
Stephan Morais is a seed investor at Indico Capital Partners in Lisbon focused on Software and Information Technology. Stephan Morais is the founder and Managing General Partner of Indico Capital Partners (www.indicocapital.com), a leading venture capital firm based Portugal. Indico focuses on software as a service, artificial intelligence, internet of things, fintech, cybersecurity and digital companies, targeting investments at Pre-Seed to Series A level. Foundedin 2017, the team at Indico were previously behind the majority of the Portuguese global tech success stories, as investors and entrepreneurs.
- Total investments:
- 26
- Last investment:
- Lead investor:
- 85%
Last updated:
For AI agents: llms.txt
Industries Stephan Morais invests in
Stages Stephan Morais invests in
Countries Stephan Morais invests in
Investment Focus
Industry
- Software 4 (15%)
- Information Technology 4 (15%)
- E-Commerce 3 (12%)
- Biotechnology 3 (12%)
- B2B 2 (8%)
Stage
- Seed 12 (46%)
- Series A 4 (15%)
- Series C 2 (8%)
- Funding Round 2 (8%)
- Venture - Series Unknown 2 (8%)
Country
- Portugal 15 (58%)
- Spain 2 (8%)
- United Kingdom 2 (8%)
- Germany 1 (4%)
- Malaysia 1 (4%)
Investments
| Company | Description | Round | Links |
|---|---|---|---|
Preply
|
Preply is a provider of an online tutoring marketplace intended to promote faster learning with one-on-one online tutors. The company's marketplace helps to find and book professional private tutors online from over 185 countries, enabling users to achieve their goals and speak confidently. | $150M / Series D / Jan 21, 2026 | |
Workfully
|
Workfully is a human resource e agency that prices employment, recruitment and upskillng services for candidates and companies. | $4.7M / Seed / Sep 23, 2025 | |
Indie Campers
|
Indie Campers offers adventurers the opportunity to start their journey in one location and end it in any of our other depots, while delivering an outstanding customer service for a unique and unforgettable experience. | $38.3M / Venture - Series Unknown / Jul 17, 2024 | |
FOSSA Systems
|
FOSSA Systems is a Spanish company that provides global and affordable IoT Connectivity for industrial applications, with assets in remote areas, through satellite communications. Its picosatellite constellation, being completely deployed before 2024, will give affordable near real-time access to IoT data everywhere on Earth, complementing thecompatible LoRa network.In its objective of offering IoT communications worldwide, even in areas where there is no mobile coverage, FOSSA Systems and its partners provide tailored sensoring and processing solutions for the needs of each industry, such as agriculture, industrial, energy, infrastructure, communications, or defence and cybersecurity. This IoT connectivity allows companies to monitor assets and control processes, being able to make the best decisions to optimize results. | $6.8M / Series A / Jun 19, 2024 | |
OSCAR
|
OSCAR offers a variety of fixed-price home services, including maintenance, cleaning, laundry, and beauty services, all accessible through a user-friendly app. Customers can easily schedule appointments for these services, with options available for immediate bookings. Additionally, OSCAR provides repair services for household appliances likewashing machines and boilers, ensuring convenience for users. The platform streamlines the process of finding and scheduling necessary home services, catering to the needs of busy individuals and families. Through its comprehensive service offerings, OSCAR simplifies home management for its users. | $6.6M / May 28, 2024 | |
|
OSCAR
|
OSCAR offers a variety of fixed-price home services, including maintenance, cleaning, laundry, and beauty services, all accessible through a user-friendly app. Customers can easily schedule appointments for these services, with options available for immediate bookings. Additionally, OSCAR provides repair services for household appliances likewashing machines and boilers, ensuring convenience for users. The platform streamlines the process of finding and scheduling necessary home services, catering to the needs of busy individuals and families. Through its comprehensive service offerings, OSCAR simplifies home management for its users. | $6.5M / Seed / May 28, 2024 | |
Rows
|
Rows develops a web application designed to bring computing to business people. Their application provides a spreadsheet solution that connects to other online services and application programming interfaces and automates applications while managing data with the power of the cloud. Rows aims to bridge the gap between traditional spreadsheetsoftware and modern data needs by providing businesses and individuals with a powerful, flexible platform. | $9.7M / Venture - Series Unknown / May 23, 2024 | |
Cargofive
|
Cargofive is a logistics solution that empowers freight forwarders to join the industry’s digital evolution.Our system was specially designed for forwarders to help them digitize and optimize their pricing process.This allows them to reduce efforts and costs while offering an experience that is more adapted to their customers’ needs. We processand automate rate sheets from carriers so that freight rates from different providers can be found at the same place, and quotes can be easily done with just a few clicks.Our app is also able to integrate via API with different systems like ERP or CRM, in order to facilitate data exchange as needed. | $2.7M / Seed / Mar 26, 2024 | |
BIZAY
|
Bizay enables the world’s largest catalogue of customizable products. Its technology platform operates across Europe, South and North America, and digitalizes the booming and huge industry of product customization by empowering brands, people and societies to self-express. It enables local manufacturers, brands, and wholesalers to offercustomization on any product in the world and reduces the cost of production by half through batching and supply-chain optimization technologies. Our platform/technology is aimed at three customer targets:(i) B2B2C provides a platform for businesses to design and sell customized products from Bizay’s existing product catalogue, with the four main customer segments: Resellers, Content Creators (Independent artists, influencers or event or managers that want to sell customized merchandise with their branding, designs or artwork), e-Commerce entrepreneurs (Small entrepreneurs that aim to expand their catalogue and upgrade their business by adding customized products to their online stores), as well as big household brands & enterprises (well-established business in need of a partner that is capable of handling large volume of customized products orders or to expand their existing offer)(ii) B2B, which is focused on SMBs, provides an extensive product catalogue for customized products to be used in several industries (ex: uniforms for restaurants and bags for retail shops) (iii) Customization-as-a-Service (CaaS), where clients (typically major brands) capitalize on Bizay’s technology, expertise, customization options, techniques and offline suppliers to customize their own products | $19.8M / Series C / Dec 22, 2023 | |
Eleos
|
Eleos is rebuilding insurance from the ground up to give individuals and families the cover they need, quickly and painlessly. Eleos makes protecting their finances affordable, inclusive and less intimidating. | $747.4K / Angel / Oct 31, 2023 | |
| See all 26 investments → | |||
Co-Investors
About Indico Capital Partners
Indico Capital Partners is the leading independent Venture Capital firm in Portugal investing in global technology companies. Indico focuses on software as a service, artificial intelligence, internet of things, fintech, cybersecurity and digital companies, targeting investments at Seed to Series A level. Founded in 2017, the team at Indico werepreviously behind the majority of the Portuguese global tech success stories, as investors and entrepreneurs.Headed by the two most senior former Caixa Capital VC Team members, supported by a successful and experienced entrepreneur and a strong group of advisors, top entrepreneurs, they raised our first fund (authorized by the Portuguese Securities Market Commission - CMVM) from a cornerstone institutional investor (EIF) and international family/multi-family offices from Europe, US, and Australia. In addition to Silicon Valley, London, and Berlin, cities like Lisbon have emerging startup ecosystems. Portugal went through a difficult macro environment years ago which led to a growth in the entrepreneurship culture and investment. We have excellent tech graduates and a global mindset.Highly innovative companies like luxury eCommerce platform Farfetch, YC graduate machine learning translation platform Unbabel or the leading student accommodation marketplace Uniplaces have a strong Portuguese DNA and went to raise international rounds in the UK and the US - we want to back the next success stories of the ecosystem.
Indico Capital Partners Contacts
| Name | Phone | Socials | |
|---|---|---|---|
|
Rui Rodrigues
Partner
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Stephan Morais
Managing General Partner
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Brianna Bao
MBA Consultant
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Cristina Fonseca
Co-founder and General Partner
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Ricardo Torgal
General Partner
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FAQ
What does Stephan Morais invest in?
Stephan Morais invests primarily in Software, Information Technology and E-Commerce startups, most often at Seed and Series A stage. Most of the 26 investments tracked by Shizune back companies in Portugal. The Investment Focus section breaks down every industry, stage and country in the portfolio.
When did Stephan Morais last invest?
The most recent investment recorded for Stephan Morais closed in Jan 2026. Shizune tracks 26 investments in total for this profile, including round sizes, stages and portfolio companies, all sourced from confirmed public funding rounds and refreshed monthly.
Is Shizune's investor data accurate?
Yes — every stat on this profile is calculated from confirmed public funding rounds monitored across hundreds of sources since 2020. This profile was last refreshed in Aug 2026 and is updated monthly. Spotted something off? Use the “Suggest an edit” link near the top of the page.
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