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Top 50 SaaS Startup Investors in Romania (July 2026)

The most active venture capital funds and angel investors investing in Romania SaaS startups. This investor list is updated monthly from the Shizune investor database, ranked by number of investments in Romania SaaS startup companies. Find investors to raise a Pre-Seed, Seed or Series A round with Shizune.
Investor Relevant Deals Geography Stage Focus Round Size
Early Game Ventures
VC Fund
31 Romania, United States, Poland Seed, Pre-Seed, Series A Software, Artificial Intelligence, Information Technology $168k–$14M
SeedBlink
VC Fund
30 Romania, United States, United Kingdom Seed, Pre-Seed, Series A Software, SaaS, Information Technology $137k–$35M
GapMinder VC
VC Fund
19 Romania, United Kingdom, United States Seed, Pre-Seed, Series A Software, Information Technology, SaaS $82k–$15M
Roca X
VC Fund
12 Romania, United Kingdom, Italy Seed, Pre-Seed, Convertible Note Software, Information Technology, Health Care $55k–$2.6M
Sparking Capital
VC Fund
9 Romania, United States, Czech Republic Seed, Pre-Seed Information Technology, SaaS, Internet $318k–$2M
Catalyst Romania
VC Fund
9 Romania, United Kingdom, Serbia Seed, Venture - Series Unknown Software, Retail, FinTech $1.1M–$3.3M
Gecad Ventures
VC Fund
7 Romania, United Kingdom, United States Seed, Series A Software, Payments, Information Technology $176k–$5.5M
3TS Capital Partners
VC Fund
7 United States, Romania, Poland Series A, Seed Software, Internet, SaaS $719k–$12M
Malin-Iulian Stefanescu
Angel
6 Romania, United States, United Kingdom Seed, Angel, Series A Software, Marketing, Internet $698k–$2M
Underline Ventures
VC Fund
5 Romania, United States, Serbia Seed, Pre-Seed, Series A Software, Machine Learning, E-Commerce $865k–$19M
Leryon Holdings
VC Fund
4 Romania Debt Financing, Venture - Series Unknown SaaS, Public Safety, Law Enforcement $531k–$548k
Marius Istrate
Angel
4 Romania, United States, France Seed, Pre-Seed, Series A Artificial Intelligence, Software, Automotive $494k–$22M
Day One Capital
VC Fund
4 Hungary, United States, Croatia Seed, Series A, Pre-Seed Software, Information Technology, Artificial Intelligence $310k–$35M
Marius Ghenea
Angel
3 Romania, United Kingdom, Serbia Series A, Seed Software, SaaS, FinTech $549k–$3.3M
Growceanu Angel Investment
VC Fund
3 Romania, Luxembourg, United States Seed, Pre-Seed, Convertible Note SaaS, Software, Health Care $154k–$1.1M
The Mavers
VC Fund
3 Romania Seed, Pre-Seed Consulting, Health Care, Information Technology $141k–$494k
Ioan Alexandru Dragan
Angel
3 Romania Pre-Seed Aerospace, Smart Cities, Drone Management $100k–$414k
LAUNCHub Ventures
VC Fund
3 Bulgaria, United Kingdom, United States Seed, Series A, Pre-Seed Software, SaaS, Internet $44k–$58M
Neogen Capital
VC Fund
3 Romania, Greece, United Kingdom Pre-Seed, Seed Software, Information Technology, B2C $165k–$2.2M
Credo Ventures
VC Fund
3 United States, United Kingdom, Czech Republic Seed, Series A, Pre-Seed Software, Artificial Intelligence, Information Technology $371k–$19M
Bravva Angels
VC Fund
2 Romania Pre-Seed Impact Investing, Wealth Management, Financial Services $407k–$765k
Simple Capital
VC Fund
2 Romania, United States Seed, Pre-Seed Mobile Apps, Fitness, Software $531k–$1.1M
Sherry Coutu
Angel
2 United Kingdom, Romania, United States Seed, Angel, Series A Software, E-Commerce, Mobile $446k–$6.5M
Bianca Rusu
Angel
2 Romania, United Kingdom Pre-Seed, Equity Crowdfunding, Seed SaaS, Software, Education $137k–$439k
Oliver Hehl
Angel
2 Germany, Romania Angel, Seed, Pre-Seed Banking, Financial Services, Apps
Cosmin Manea
Angel
2 Romania, Spain Angel, Seed SaaS, Big Data, Software $45k–$238k
Inovo.vc
VC Fund
2 Poland, United States, United Kingdom Seed, Pre-Seed, Series A Software, Artificial Intelligence, Information Technology $300k–$23M
European Union
VC Fund
2 Germany, United Kingdom, United States Grant, Seed Software, Information Technology, Health Care $16k–$28M
Mozaik Investments
VC Fund
2 Romania Series A Apps, FinTech, Payments $2.5M–$2.5M
Zeyshare Ventures
VC Fund
2 Romania, United States, United Arab Emirates Seed, Series A Internet, News, E-Commerce
Climate-KIC
VC Fund
2 Germany, Italy, Switzerland Seed, Grant, Convertible Note CleanTech, Sustainability, GreenTech $17k–$1.9M
Alfabeat
VC Fund
2 Poland, United Kingdom, United States Seed, Series A, Pre-Seed Software, Marketing, SaaS $199k–$13M
Cleverage VentureCapital
VC Fund
2 Romania, Czech Republic, The Netherlands Seed, Pre-Seed Health Care, Medical Device, Information Technology $154k–$1.7M
Portfolion
VC Fund
2 Hungary, Poland, United States Seed, Series A, Series B Software, Information Technology, Artificial Intelligence $439k–$42M
TechAngels
VC Fund
2 Romania, United Kingdom, United States Seed, Pre-Seed FinTech, Software, B2B $143k–$1M
D Moonshots
VC Fund
2 Romania, United Kingdom Pre-Seed, Convertible Note SaaS, EdTech, Software $329k–$384k
VERBUND
VC Fund
2 Austria, Romania Series A, Venture - Series Unknown Software, Car Sharing, Smart Cities $1.6M–$3.3M
MMC Ventures
VC Fund
2 United Kingdom, United States, France Seed, Series A, Series B Software, Artificial Intelligence, Machine Learning $1.3M–$54M
Venture to Future Fund
VC Fund
1 Slovakia (Slovak Republic), Romania, United States Seed, Series A Software, Information Technology, Internet of Things
Florin Pop
Angel
1 Romania Angel Apps, Artificial Intelligence
Fil Rouge Capital (FRC)
VC Fund
1 Croatia, Slovenia, United Kingdom Seed, Pre-Seed Software, Information Technology, E-Commerce
Dawn Capital
VC Fund
1 United Kingdom, United States, Denmark Series A, Series B, Series C Software, SaaS, Information Technology
Daniel Dines
Angel
1 United States, Germany, United Kingdom Series A, Seed, Series B Software, SaaS, Artificial Intelligence
Lucian Despoiu
Angel
1 Romania Angel Consulting, Information Services, Information Technology
KG Ventures
VC Fund
1 Russian Federation, Serbia, Romania Seed SaaS, Software, PaaS $112k–$300k
Arts Alliance
VC Fund
1 United States, United Kingdom, Norway Seed, Series A Advertising, Mobile, Fashion
Hoxton Ventures
VC Fund
1 United Kingdom, United States, Canada Seed, Series A, Series B Artificial Intelligence, Software, Information Technology
Constantine Goulimis
Angel
1 Romania Seed FinTech, Software, Financial Services
Ulpia Ventures
VC Fund
1 Romania Seed Computer, Software, Web Design
SIF Transilvania
VC Fund
1 Romania Seed Data Mining, Manufacturing, Internet of Things
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822 industries, 177 countries. Updated daily. Emails and phones included.

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Investor list

Early Game Ventures
VC Fund · Bucharest, Bucuresti, Romania · 31 investments in Romania SaaS startups

Early Game Ventures (EGV) is an early-stage venture capital firm investing in startups that jumpstart new industries in the emerging markets of Europe.Their philosophy is quite straightforward: they invest at the earliest stages in companies whose founders have vested interests, are coachable and address big markets. If the opportunity is real,they prefer to be the first institutional investor in such startups.EGV is also running a concierge accelerator, taking in only 5 or 6 startups per year for a very intensive and tailor-made program.

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Romania, United States, Poland

Investor stats

  • Total investments: 52
  • Round size: Seed $332k–$1.9M; Pre-Seed $168k–$1.1M; Series A $2.5M–$14M
  • Lead/follow: 73% lead, 27% follow

Portfolio highlights

  • Tokinomo — Discover Tokinomo, the in-store interactive robotic promotional display helps FMCG products stand out on the shelves for an average 200% increase in sales.
  • Soulstream — The first social note-taking app for books. Underline (formerly BookVitals) helps people extract notes from physical, digital and audiobooks, and then share those book notes with friends and followers.
  • Orbital Matter — Orbital Matter is a construction company in space that works on a 3D printing technology to be used directly in orbit and on the moon. Orbital Matter aims to manufacture large elements of space infrastructure such as walls for space stations, moon habitats, and SBSP reflectors. The company was founded in 2022 and is based in Warsaw, Poland.
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GapMinder VC
VC Fund · Bucharest, Bucuresti, Romania · 19 investments in Romania SaaS startups

GapMinder plans to invest and support the most disruptive and bold innovations pushing limits and creating positive impact for the community and the overall society. Our background and experience together with our common values and vision for the fund are the core of our competitive advantage. Our team is eager to create value in the region and forthe region. We focus on Pre-Seed, Seed and Series A stages

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Investment focus

  • Industry: Software, Information Technology, SaaS
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Romania, United Kingdom, United States

Investor stats

  • Total investments: 62
  • Round size: Seed $219k–$4.7M; Pre-Seed $82k–$551k; Series A $2.5M–$15M
  • Lead/follow: 53% lead, 47% follow
  • Last fund: Likely still investing — raised $94M in 2024

Portfolio highlights

  • Cyscale — At Cyscale, we believe that a safer Cloud means a safer World. We need to do something extraordinary to have a better, easier and more secure way of designing & deploying any Cloud Infrastructure in AWS, Azure, GCP, OpenStack, VMWare, IBM Cloud, Oracle Cloud and even Alibaba Cloud.That is why we create amazing tools so that everybody canbuild & deploy cloud infrastructure with security in mind, knowing the costs upfront, while maintaining continuous regulatory compliance. All done automatically with just a few clicks.We are the first Cloud Management, Security and Compliance company empowering both regular people and cloud professionals with visual tools to meet this level of cloud automation and security.We're Cyscale, born in the Cloud to protect the Cloud!Join our team or pre-register for the product launch: https://cyscale.com
  • YAROOMS — YArooms is a web based booking software package that makes it easy for you to manage rooms and resources and to book a room anywhere, even if it is in a different time zone or location. It prevents double bookings and allows revenue tracking through its Reports feature. YArooms allows for granular access of your users to the meeting rooms byorganizing users into types and soon groups. Meeting rooms can have owners, restricted users will require approval from the room owners for each meeting. If you use Outlook for work, you can bring YArooms into your email client by installing our dedicated plugin. You’ll be able to use YArooms without opening up the web application. All YArooms accounts come bundled with the YArooms Door app. Install it on a the tablet of your choice and mount that on your conference room's door. Check-in functionality with auto-release is built in, you can also book directly from the app, see the room’s current status and much more.
  • Innoship — Innoship este un software avansat de tip multi-carrier shipping creat pentru nevoile tale.
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Roca X
VC Fund · Bucharest, Bucuresti, Romania · 12 investments in Romania SaaS startups

RocaX > Is building a solid and much needed bridge for startups between the support offered by business angels and the upper stage VCs. Learn more!

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Investment focus

  • Industry: Software, Information Technology, Health Care
  • Stage:Seed, Pre-Seed, Convertible Note
  • Geography: Romania, United Kingdom, Italy

Investor stats

  • Total investments: 34
  • Round size: Seed $150k–$2.6M; Pre-Seed $55k–$878k; Convertible Note $165k–$1.1M
  • Lead/follow: 26% lead, 74% follow
  • Last fund: May invest from a new fund soon — raised $4.7M in 2019

Portfolio highlights

  • FilmChain — Managing end-to-end financial transactions for creative industries
  • Bunnyshell — Bunnyshell is a a simple and fast cloud-agnostic DevOps automation platform to deploy, scale, and optimize your applications.We provide easy infrastructure management on multiple clouds , application management and DevOps Tools.Bunnyshell increases speed, performance, and scalability & works on the most popular major clouds: AWS, DigitalOcean, Azure, Linode, Vultr, UpCloud.Our platform allows you to focus on growing your app, while we take care of the rest: real time monitoring, auto scaling, smart self-healing servers, one click deployment. Backed by 24/7 real time support.
  • Kinderpedia — Free remote video teaching on Kinderpedia, Daily attendance, gradebook and reports and 20 more functionalities for connected education.
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Sparking Capital
VC Fund · Bucharest, Bucuresti, Romania · 9 investments in Romania SaaS startups

Sparking Capital is an early stage micro fund backing entrepreneurs with unique industry insights, powerful vision, passion, courage and excellence in the execution of their plans.Sparking Capital focuses on pre-seed & seed investments. We are industry agnostic but have a preference for investments in consumer internet, marketing-tech, supplychain-tech, fin-tech, property-tech, circular economy-tech startups with differentiating value propositions, disruptive business models which have the potential to become national champions and/or scale up fast internationally.

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Investment focus

  • Industry: Information Technology, SaaS, Internet
  • Stage:Seed, Pre-Seed
  • Geography: Romania, United States, Czech Republic

Investor stats

  • Total investments: 12
  • Round size: Seed $318k–$2M
  • Lead/follow: 58% lead, 42% follow

Portfolio highlights

  • Questo — Discover cities through outdoor escape games, scavenger hunts & self-guided walking tours. Play with friends, family or your partner in 1000+ destinations worldwide.
  • Hyperhuman — Build, personalize, deliver, and grow modern health, wellness, and fitness products without building the stack. Hyperhuman combines workout API, exercise API, white-label fitness app delivery, AI content creation, and adaptive personalization in one platform.
  • Ecotree Romania — EcoTree is the first digital platform in Romania that provides real and measurable benefits to the waste management industry by digitizing operational processes and legal documentation through business intelligence modules for data analysis and reporting, dedicated tendering modules and more, ensuring full transparency and traceability. In thisway, the startup actively contributes to a clean and sustainable environment. The company was founded in 2017 by Bogdan Andronache, Alexandru Petrescu, Marius Cîrstea and Dan Simota with the aim of digitizing the specific processes of waste collection and recycling, positioning itself as a player in the circular economy.
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Catalyst Romania
VC Fund · Bucharest, Bucuresti, Romania · 9 investments in Romania SaaS startups

Catalyst Romania is a private equity and venture capital fund platform.

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Investment focus

  • Industry: Software, Retail, FinTech
  • Stage:Seed, Venture - Series Unknown
  • Geography: Romania, United Kingdom, Serbia

Investor stats

  • Total investments: 15
  • Round size: Seed $1.1M–$3.3M; Venture - Series Unknown $2.2M–$2.4M
  • Lead/follow: 73% lead, 27% follow

Portfolio highlights

  • SeedBlink — All-in-one solution for fundraising, managing and trading equity. Explore promising tech startups and flexible funding opportunities with SeedBlink.
  • Carfix — Carfix solves every task in minutes, eliminating costly fines for expired inspections, unpaid taxes, human errors & paper-based procedures
  • SOMAREALITY — SOMAREALITY provides eye tracking solutions for diverse industries. Improve healthcare, automotive, research & aviation with real-time cognitive insights.
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Gecad Ventures
VC Fund · Bucharest, Bucuresti, Romania · 7 investments in Romania SaaS startups

Our commitment, experience, and perseverance have fueled the creativity of some of the most exciting start-ups in Europe.

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Investment focus

  • Industry: Software, Payments, Information Technology
  • Stage:Seed, Series A
  • Geography: Romania, United Kingdom, United States

Investor stats

  • Total investments: 23
  • Round size: Seed $176k–$2M; Series A $2.9M–$5.5M
  • Lead/follow: 22% lead, 78% follow

Portfolio highlights

  • FintechOS — FintechOS is the AI platform for financial product operations. Design, price, launch, and evolve financial products with governed AI and reduced core dependency.
  • Dataworks Research SRL — Soleadify provides business data enrichment with unprecedented coverage of SMBs, accurate classification and in-depth insights based on real-time updates.Always driven by the complexity of AI and Machine Learning, we build more efficient ways of getting more data and get more out of it. Urged on reliability and complete-ness, our datasets haveyet to be beaten in terms of accuracy and classification by industry mammoths.
  • TypingDNA — TypingDNA provides typing biometrics authentication as a service, enabling companies to recognize people by the way they type. The company's authentication technology compares how people type on their keyboards against previous recordings. Works on both mobiles and PCs. Headquartered in New York, United States, with offices in Romania, EU.
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3TS Capital Partners
VC Fund · Helsinki, Southern Finland, Finland · 7 investments in Romania SaaS startups

One of the leading European technology-focused growth capital investors, backing high-growth SMEs across Technology & Internet, Media & Communications.

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Investment focus

  • Industry: Software, Internet, SaaS
  • Stage:Series A, Seed
  • Geography: United States, Romania, Poland

Investor stats

  • Total investments: 70
  • Round size: Seed $719k–$2.6M; Series A $768k–$12M
  • Lead/follow: 49% lead, 51% follow
  • Last fund: Likely still investing — raised $176M in 2021

Portfolio highlights

  • NEXD — Nexd is a platform for creating interactive programmatic display and video ads. Free 14-day trial.
  • GoTo (formerly LogMeIn)
  • ConveyIQ — ConveyIQ provides an intelligent candidate engagement platform. Its platform features an all-in-one bespoke communication framework for the entire candidate journey. ConveyIQ delivers personalized applicant communication that companies need to ensure a remarkable candidate journey.
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Malin-Iulian Stefanescu
Angel · Bucharest, Bucuresti, Romania · 6 investments in Romania SaaS startups

Business Angel, Entrepreneur, Father

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Investment focus

  • Industry: Software, Marketing, Internet
  • Stage:Seed, Angel, Series A
  • Geography: Romania, United States, United Kingdom

Investor stats

  • Total investments: 11
  • Round size: Seed $698k–$2M
  • Lead/follow: 18% lead, 82% follow

Portfolio highlights

  • Aggero — Turn every piece of video content into actionable insights for your next campaign
  • Tokinomo — Discover Tokinomo, the in-store interactive robotic promotional display helps FMCG products stand out on the shelves for an average 200% increase in sales.
  • Vatis Tech — Speech-to-text recognition API with custom AI models and real-time transcription for the English language. Get started now for FREE!
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Underline Ventures
VC Fund · Bucharest, Bucuresti, Romania · 5 investments in Romania SaaS startups

We underline founders.

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Investment focus

  • Industry: Software, Machine Learning, E-Commerce
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Romania, United States, Serbia

Investor stats

  • Total investments: 19
  • Round size: Seed $1.2M–$5.5M; Pre-Seed $865k–$2M; Series A $14M–$19M
  • Lead/follow: 16% lead, 84% follow

Portfolio highlights

  • Almetra — We use computer vision and AI analytics to provide insights into manual assembly processes - our platform supports process engineers in driving productivity and quality of assembly processes
  • Bible Chat — Bible Chat is the best Christian AI app that lets you talk to the Bible, ask faith questions, request prayers, and study Scripture. Try now for free!
  • DesignVerse — DesignVerse is an AI platform that develops enterprise software using company documentation and internal rules.
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Access 48,091 investors

822 industries, 177 countries. Updated daily. Emails and phones included.

Browse database — It's Free!
Leryon Holdings
VC Fund · Galati, Galati, Romania · 4 investments in Romania SaaS startups

ALTERNATIVE INVESTMENTS - On top of our leading real estate focus, we also manage investments in stocks & bonds, as well as act as a boutique venture capital firm identifying start-ups with high potential and providing initial seed funding, while accompanying them during the early years of development and growth.

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Investment focus

  • Industry: SaaS, Public Safety, Law Enforcement
  • Stage:Debt Financing, Venture - Series Unknown
  • Geography: Romania

Investor stats

  • Total investments: 4
  • Round size: Debt Financing $531k–$548k
  • Lead/follow: 75% lead, 25% follow

Portfolio highlights

  • Flyward — Flyward delivers precise aircraft maintenance cash flow forecasting software for lessors, airlines, and aviation finance experts.
  • Invisum Ai — InVisum AI specializes in different types of AI-driven facial/object recognition software for the intelligence community & savvy businesses that need an edge over their competition.
  • Orbotix — Orbotix Tech - Revolutionize the defense industry with innovative designs and advanced technologies that redefine operations.
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Marius Istrate
Angel · 4 investments in Romania SaaS startups

Former Chief People Officer of UiPath, from 2017 until 2020. Former CEO of SkillValue, from 2014 until 2016. Angel Investor and VC Investor. Focus on Enterprise SaaS, Productivity Tech, Dev Tools, Cloud, AI & Automation.

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Investment focus

  • Industry: Artificial Intelligence, Software, Automotive
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Romania, United States, France

Investor stats

  • Total investments: 11
  • Round size: Seed $1.2M–$4M; Pre-Seed $494k–$3.3M; Series A $6.4M–$22M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • parol — A platform that streamlines clinical procedures, records the consultation in real time, files all the paperwork for the doctor, and brings in more patients.
  • Kodesage — Kodesage captures your company's collective knowledge to help understand and modernize legacy code
  • Riptides — Riptides is the non-human identity fabric for your workloads and AI agents, and they trust Every Connection. Even the Autonomous Ones.
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Day One Capital
VC Fund · Budapest, Budapest, Hungary · 4 investments in Romania SaaS startups

We are an early-stage technology investor, managing privately financed funds. We seek to find and join the most exciting Central Eastern European teams on their global mission.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Hungary, United States, Croatia

Investor stats

  • Total investments: 55
  • Round size: Seed $310k–$6.1M; Pre-Seed $500k–$7.2M; Series A $2.7M–$35M
  • Lead/follow: 25% lead, 75% follow
  • Last fund: May invest from a new fund soon — raised $35M in 2018

Portfolio highlights

  • Statzup — Domain name StatZup.com is a dynamic and impactful choice for startups looking to make a bold statement in the world of statistics and data analysis. The name suggests a sense of urgency and excitement, urging users to stay on top of the la
  • Volteum — Electric vehicle (EV) fleets made easy. Volteum helps companies transition to EVs, optimize charging, and manage electric car fleet operations efficiently.
  • Whalebone — Whalebone offers zero disruption cybersecurity products to Telcos, ISPs, and enterprises.
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Marius Ghenea
Angel · Bucharest, Bucuresti, Romania · 3 investments in Romania SaaS startups

• Partner of Catalyst Romania VC Fund (part of 3TS Capital Partners) - http://catalystromania.ro/ • “Investor of the Year in Romania 2016 and 2017" award by CESA with Catalyst Romania Fund • Serial entrepreneur and business-angel with successful investments in SEE, ranks in fortune Romanian surveys Capital, Forbes. • Experienceas an start-up entrepreneur with Flamingo, from zero revenues and capital to a $50M company, the largest IT product distribution network in Romania, in 7 years. Setting-up a Flamingo International group structure with direct operations in 7 SEE countries (Romania, Bulgaria, Croatia, Hungary, Macedonia, Moldova, Yugoslavia) and one fully-fledged subsidiary in Holland, 1999 – 2001. • Manager of team of 500+ people with Flamingo, employees from various countries (majority Romanian), cultures, backgrounds and contributing to the creation of one of the best teams in the IT business in the Balkan region • Experience in private equity and venture capital investments. Deal-leader on 6 (123ContactForm, VectorWatch, Marketizator Friends, Intelligent IT/SmartBill, Smartdreamers, Vola.ro) out of 10 investments of Catalyst Romania Fund. • Exit track-record: VectorWatch, sold to FitBit early 2017, PCGarage, bought by Naspers/Emag in 2016; VikingProfil, bought by Pruzsinski of Poland, 2008, Flanco, successful exit in 2006, Flamingo, successful IPO in 2004, etc. • Co-Founder VentureConnect (regional matchmaking platform for tech start-up entrepreneurs and early-stage investors); President Romanian Association for the Online Stores (ARMO) • Entrepreneurship, Innovation and New Business Ventures Professor, Maastricht School of Management EMBA program • Co-organizer Schoolforstartups Romania, the first SE European entrepreneurship school • Author of “Entrepreneurship”, the first Romanian book on entrepreneurship and TV dragon in the Romanian Dragons’ Den

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Investment focus

  • Industry: Software, SaaS, FinTech
  • Stage:Series A, Seed
  • Geography: Romania, United Kingdom, Serbia

Investor stats

  • Total investments: 14
  • Round size: Seed $768k–$3.3M; Series A $549k–$1.6M
  • Lead/follow: 64% lead, 36% follow

Portfolio highlights

  • Vola.ro — Vola.ro is a privately held company that find the deals for airplane tickets- both low-cost airline tickets and tickets for line companies.
  • Marketizator — Serious eCommerce players become customer-centric if they focus on what matters. Optimize your customer journey with data-driven decisions.
  • 123FormBuilder — 123FormBuilder is a powerful web form builder that allows organizations to easily create forms and surveys without programming skills.With 123FormBuilder users are provided with the ability to create their forms visually, obtain the script in a few clicks and start collecting data on their webpages within minutes. It enables small businesses tocreate any kind of forms, including contact forms, lead generation forms, surveys, registration forms, online forms, and others no matter how complex it is.123FormBuilder integrates with many third party applications, such as Google Docs, SalesForce, MailChimp, and many more. It offers a Facebook application and plugins for the major publishing platforms such as Wordpress, Blogger, and Google Sites.Founded in 2008, in Timisoara, Romania, 123FormBuilder offers free services for a limited number of forms, with premium accounts to scale up and get access to more powerful features.
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Growceanu Angel Investment
VC Fund · 3 investments in Romania SaaS startups

Growceanu is a group of business angels, active primarily in high-tech areas that contribute with money, professional and business expertise and personal connections to the development of tech startups with high potential of growth.

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Investment focus

  • Industry: SaaS, Software, Health Care
  • Stage:Seed, Pre-Seed, Convertible Note
  • Geography: Romania, Luxembourg, United States

Investor stats

  • Total investments: 9
  • Round size: Seed $154k–$1.1M
  • Lead/follow: 22% lead, 78% follow

Portfolio highlights

  • Milluu — Helping places become homes! Milluu is the app that gets personal, relevant and smart about rent.We believe that things are done properly when you're personally invested. And we invest our technology & smart tools to help you find your next home or your next ideal tenant!We have created a service app that connects directly listers andtenants based on their preferences.Based on AI and ML, our Milluu Bot is the friendly face of the app, assisting you permanently in your rental journey, making suggestions for great matches and helping you close the deal.
  • MediNav — MediNav is a software company. They offer machine learning, artificial intelligence, medtech, and digital health services. They focus on delivering cutting edge technology to hospitals and private practices in order to support them during their consultations and reduce the time spent on filling forms. If anyone wants to contact them please contactthem via phone call or email.
  • aqurate.ai — Take your eCommerce shop to the next level with the AI-driven Aqurate tools: Product Recommendations engine, Customer Segmentation tool. Find out more details.
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The Mavers
VC Fund · 3 investments in Romania SaaS startups

The Maversis a venture capital investment firm.

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Investment focus

  • Industry: Consulting, Health Care, Information Technology
  • Stage:Seed, Pre-Seed
  • Geography: Romania

Investor stats

  • Total investments: 4
  • Round size: Pre-Seed $141k–$494k
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • parol — A platform that streamlines clinical procedures, records the consultation in real time, files all the paperwork for the doctor, and brings in more patients.
  • INKI.TECH — Equip your business with high-end, secure IT equipment through INKI's device-as-a-service model. Reduce operational costs, increase agility, and embrace sustainability while minimizing total cost of ownership.
  • Unison — Unison is a nutritionist who specializes in plant-based diets and its products contain just natural ingredients, no added sugar, and no preservatives.
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Ioan Alexandru Dragan
Angel · 3 investments in Romania SaaS startups

CEO @ Sim Soft Distribution CEO @ ARGONIAN

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Investment focus

  • Industry: Aerospace, Smart Cities, Drone Management
  • Stage:Pre-Seed
  • Geography: Romania

Investor stats

  • Total investments: 3
  • Round size: Pre-Seed $100k–$414k
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • ARGONIAN — UTM service provider Drone Detection As A Service U-Space Services Provider
  • Sim Soft Distribution — Air Traffic Control training solutions
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LAUNCHub Ventures
VC Fund · Sofia, Grad Sofiya, Bulgaria · 3 investments in Romania SaaS startups

LAUNCHub is a leading early-stage venture capital fund focused on investing in startups in South-Eastern (SEE) and Central-Eastern (CEE) Europe.

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Investment focus

  • Industry: Software, SaaS, Internet
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Bulgaria, United Kingdom, United States

Investor stats

  • Total investments: 139
  • Round size: Seed $44k–$3.5M; Pre-Seed $183k–$2.8M; Series A $2.8M–$58M
  • Lead/follow: 18% lead, 82% follow
  • Last fund: May invest from a new fund soon — raised $82M in 2021

Portfolio highlights

  • nFuse.ai — nFuse.ai is an AI‑powered B2B sales platform focused on fast‑moving consumer goods (FMCG), positioning itself as an “ordering and communication layer” between brands and their distribution networks.
  • OfficeRnD — OfficeRnD helps flex space operators and hybrid teams manage the workplace of the future. Book your demo or start a free 14-day trial.
  • Giraffe360 — Giraffe360 is game-changing subscription product for real estate companies to streamline professional quality photography and high accuracy floor plan creation.
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Neogen Capital
VC Fund · Targu-mures, Mures, Romania · 3 investments in Romania SaaS startups

We're a venture studio specialised in marketplaces. We build, fund or buy tech companies with impact.

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Investment focus

  • Industry: Software, Information Technology, B2C
  • Stage:Pre-Seed, Seed
  • Geography: Romania, Greece, United Kingdom

Investor stats

  • Total investments: 5
  • Round size: Seed $549k–$549k; Pre-Seed $165k–$2.2M
  • Lead/follow: 80% lead, 20% follow

Portfolio highlights

  • Protio — Protio is proptech startup reinventing the process of buying & selling real estate.
  • TULIPR — Tulipr is your solution for Marketing Procurement in the FMCG industry. Manage suppliers and vendors efficiently.
  • Metabeta — Early-stage portfolio management for startup accelerators and investors.
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Credo Ventures
VC Fund · Prague, Hlavni mesto Praha, Czech Republic · 3 investments in Romania SaaS startups

We partner with outstanding technology founders from Central and Eastern Europe to help them realize their global ambitions.

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Seed, Series A, Pre-Seed
  • Geography: United States, United Kingdom, Czech Republic

Investor stats

  • Total investments: 150
  • Round size: Seed $800k–$7M; Pre-Seed $371k–$10M; Series A $2M–$19M
  • Lead/follow: 35% lead, 65% follow

Portfolio highlights

  • Fabrica AI — Fabrica AI offers a revolutionary platform for faster robot development, using custom hardware designs and learned optimal control to increase efficiency while minimizing complexity and cost. With a vision for a future where robot development takes days, not years.
  • Segron — From Network Engineering , where new services and components need active testing via Rollout and Installation , to ensure correct functionality after...
  • Delta Green — Aggregating household assets in large controllable block of flexibility.
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Bravva Angels
VC Fund · Bucharest, Bucuresti, Romania · 2 investments in Romania SaaS startups

A community of business angels, driven by the desire to invest with high impact for a better life.

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Investment focus

  • Industry: Impact Investing, Wealth Management, Financial Services
  • Stage:Pre-Seed
  • Geography: Romania

Investor stats

  • Total investments: 2
  • Round size: Pre-Seed $407k–$765k
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Jobful — Build engaged talent pipelines with AI-powered recruitment. Reduce cost per hire by 35%, shift from reactive to strategic hiring. Trusted by enterprise leaders.
  • Vestinda — Vestinda is the platform that provides investments in digital assets. Their features are portfolio tracking, crypto portfolio tracking, strategy libraries,crypto investment strategies,strategy builders, trading strategies built with no code, backtesting backtested crypto trading strategies,demo trading,crypto paper trading, and risk-free livetrading.
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Simple Capital
VC Fund · 2 investments in Romania SaaS startups

Simple Capital

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Investment focus

  • Industry: Mobile Apps, Fitness, Software
  • Stage:Seed, Pre-Seed
  • Geography: Romania, United States

Investor stats

  • Total investments: 4
  • Round size: Seed $531k–$1.1M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Milluu — Helping places become homes! Milluu is the app that gets personal, relevant and smart about rent.We believe that things are done properly when you're personally invested. And we invest our technology & smart tools to help you find your next home or your next ideal tenant!We have created a service app that connects directly listers andtenants based on their preferences.Based on AI and ML, our Milluu Bot is the friendly face of the app, assisting you permanently in your rental journey, making suggestions for great matches and helping you close the deal.
  • Neobility — Neobility offers mobility solutions services.
  • Hyperhuman — Build, personalize, deliver, and grow modern health, wellness, and fitness products without building the stack. Hyperhuman combines workout API, exercise API, white-label fitness app delivery, AI content creation, and adaptive personalization in one platform.
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Sherry Coutu
Angel · London, England, United Kingdom · 2 investments in Romania SaaS startups

Sherry Coutu currently works as an Independent Non Executive Director for Pearson. She previously worked at superpower as a Director. Sherry Coutu attended Harvard Business School.

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Investment focus

  • Industry: Software, E-Commerce, Mobile
  • Stage:Seed, Angel, Series A
  • Geography: United Kingdom, Romania, United States

Investor stats

  • Total investments: 11
  • Round size: Seed $800k–$6.5M; Angel $446k–$637k; Series A $1.8M–$3M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • 5Mins — 5Mins is the new microlearning platform that helps your employees build in-demand skills fast with AI-powered personalisation and advanced gamification.
  • Topia — Discover our professional services designed to elevate your business with expert solutions tailored to your needs. Contact us today for trusted support.
  • FullCircl — FullCircl is a Customer Lifecycle Intelligence (CLI) platform for customer-facing channels in B2B financial services. Better business, faster.
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Bianca Rusu
Angel · Cluj-napoca, Cluj, Romania · 2 investments in Romania SaaS startups

Entrepreneur & angel investor in disruptive startups building the future through technology.

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Investment focus

  • Industry: SaaS, Software, Education
  • Stage:Pre-Seed, Equity Crowdfunding, Seed
  • Geography: Romania, United Kingdom

Investor stats

  • Total investments: 5
  • Round size: Equity Crowdfunding $137k–$439k
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Cyscale — At Cyscale, we believe that a safer Cloud means a safer World. We need to do something extraordinary to have a better, easier and more secure way of designing & deploying any Cloud Infrastructure in AWS, Azure, GCP, OpenStack, VMWare, IBM Cloud, Oracle Cloud and even Alibaba Cloud.That is why we create amazing tools so that everybody canbuild & deploy cloud infrastructure with security in mind, knowing the costs upfront, while maintaining continuous regulatory compliance. All done automatically with just a few clicks.We are the first Cloud Management, Security and Compliance company empowering both regular people and cloud professionals with visual tools to meet this level of cloud automation and security.We're Cyscale, born in the Cloud to protect the Cloud!Join our team or pre-register for the product launch: https://cyscale.com
  • BRIO — Brio is more than an idea whose time has come — it’s a fully fledged DeepTech SaaS educational platform that was conceptualised according to the most rigorous global standards. One of those few fortunate businesses where profit and social purpose go hand in hand, Brio is a first mover in a market of 3 million students (in Romania alone), offeringcore testing products for grades 1-12, for the National Evaluation and the Baccalaureate.
  • SecurifAI — SecurifAI develop AI systems for real-time video analysis in order to detect suspect behavior, potential attacks, and deliver timely alerts.
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Oliver Hehl
Angel · Walldorf, Baden-Wurttemberg, Germany · 2 investments in Romania SaaS startups

Oliver Hehl

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Investment focus

  • Industry: Banking, Financial Services, Apps
  • Stage:Angel, Seed, Pre-Seed
  • Geography: Germany, Romania

Investor stats

  • Total investments: 4
  • Lead/follow: 25% lead, 75% follow

Portfolio highlights

  • OWWN — wajve offers all financial services like banking, advice, and education in one app.
  • Jobful — Build engaged talent pipelines with AI-powered recruitment. Reduce cost per hire by 35%, shift from reactive to strategic hiring. Trusted by enterprise leaders.
  • deineStudienfinanzierung — deineStudienfinanzierung is the digital platform to help students finance their studies.
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Cosmin Manea
Angel · 2 investments in Romania SaaS startups

Cosmin Manea is a Founding Partner at Instashop.

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Investment focus

  • Industry: SaaS, Big Data, Software
  • Stage:Angel, Seed
  • Geography: Romania, Spain

Investor stats

  • Total investments: 4
  • Round size: Angel $45k–$238k
  • Lead/follow: 75% lead, 25% follow

Portfolio highlights

  • Safeflows — Safeflows is an outbound growth engineering agency that helps founders and revenue teams go beyond leads to build predictable pipeline. We design, build, and operate scalable outbound systems that connect data enrichment, automation, and CRMs into a single seamless engine. Our Clay-centric approach combines GTM engineering, workflow automation, andoutbound execution to deliver a reliable, repeatable path to revenue growth.
  • Burger Index — Burger Index provides restaurants, food and hospitality brands with real-time market, competition and consumer insights for location analysis, product development, order conversion and marketing. No guesswork, no outdated reports.
  • Ecotree Romania — EcoTree is the first digital platform in Romania that provides real and measurable benefits to the waste management industry by digitizing operational processes and legal documentation through business intelligence modules for data analysis and reporting, dedicated tendering modules and more, ensuring full transparency and traceability. In thisway, the startup actively contributes to a clean and sustainable environment. The company was founded in 2017 by Bogdan Andronache, Alexandru Petrescu, Marius Cîrstea and Dan Simota with the aim of digitizing the specific processes of waste collection and recycling, positioning itself as a player in the circular economy.
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Inovo.vc
VC Fund · Warsaw, Mazowieckie, Poland · 2 investments in Romania SaaS startups

VC for the most ambitious founders in CEE

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Investment focus

  • Industry: Software, Artificial Intelligence, Information Technology
  • Stage:Seed, Pre-Seed, Series A
  • Geography: Poland, United States, United Kingdom

Investor stats

  • Total investments: 94
  • Round size: Seed $300k–$9M; Pre-Seed $620k–$4.5M; Series A $3.4M–$23M
  • Lead/follow: 52% lead, 48% follow
  • Last fund: Likely still investing — raised $119M in 2022

Portfolio highlights

  • Booksy — Booksy - book appointments online. Find & book beauty services like hairdressing, manicure, spa or massage. Check prices & reviews!
  • GRAI — GRAI is an AI music research company building the intelligence layer for musical intent — transforming music from passive listening into social participation.
  • Ingenix — Our solution leverages proprietary multimodal AI essential for tackling the complexities of multimodal biological systems.
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European Union
VC Fund · London, England, United Kingdom · 2 investments in Romania SaaS startups, 34 in the past 12 months

Discover how the EU functions, its principles, priorities; find out about its history and member states; learn about its legal basis and your EU rights.

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Investment focus

  • Industry: Software, Information Technology, Health Care
  • Stage:Grant, Seed
  • Geography: Germany, United Kingdom, United States

Investor stats

  • Total investments: 209
  • Round size: Seed $16k–$5.4M; Grant $60k–$28M
  • Lead/follow: 64% lead, 36% follow

Portfolio highlights

  • Water PNG — Water PNG designs, constructs, and operates water treatment plants and provides water supply and sewerage services.
  • National Bank of Egypt — National Bank of Egypt Home Page
  • Duke-NUS Medical School — Collaboration between Duke University and National University of Singapore. Duke-NUS follows the American model of post-baccalaureate medical education in which students begin their medical studies after earning a bachelor's degree. Offers MD, MD/PhD and PhD programs.Duke-NUS aim to develop students to become medical doctors andmedical researchers. Creativity, critical thinking and teamwork are important values that are imparted to our students - that will help them to change and improve the practice of medicine.
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Mozaik Investments
VC Fund · Bucharest, Bucuresti, Romania · 2 investments in Romania SaaS startups

Mozaik Investments offers flexible growth financing to small and medium-sized enterprises with unique qualities and exceptional leadership.

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Investment focus

  • Industry: Apps, FinTech, Payments
  • Stage:Series A
  • Geography: Romania

Investor stats

  • Total investments: 2
  • Round size: Series A $2.5M–$2.5M
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Pago — Managing and paying utility bills, insurance, mobile top-ups and taxes takes too much time for many households in Europe. Pago simplifies these payments by adding automation where possible, using integrations with billers, insurers and online platforms to dramatically reduce the time needed for all these payments. The service is available in theB2C app called Pago and through B2B integrations by embedding Pago features in partner apps through SDK or API. Pago's services are used by over 500k monthly active users in Romania, Poland and Italy.
  • Pago — Pago develops a digital payments platform that allows users to manage and pay household expenses through a mobile application. The company provides bill payment services for utilities, insurance, taxes, mobile prepaid recharges, road tolls, and travel-related services within a unified interface. Its platform supports account aggregation, automaticbill retrieval, payment scheduling, and notification tools that help users organize recurring financial obligations. Pago also integrates with banking and financial service applications to extend payment capabilities across partner ecosystems. The company includes transaction history, account management, and digital document storage features to support personal finance tracking and payment administration. In addition, Pago uses encrypted communications and secure payment processing technologies to support data protection and digital transaction security for consumers and partner platforms.
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Zeyshare Ventures
VC Fund · Bucharest, Bucuresti, Romania · 2 investments in Romania SaaS startups

Zeyshare Ventures provides venture capital investments in early & growth stage technology startups across Romania and the Central & South Eastern Europe region, as well as venture building services. Zeyshare Ventures | venture capital & venture building

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Investment focus

  • Industry: Internet, News, E-Commerce
  • Stage:Seed, Series A
  • Geography: Romania, United States, United Arab Emirates

Investor stats

  • Total investments: 12
  • Lead/follow: 17% lead, 83% follow

Portfolio highlights

  • Five FS — Five FS offers five financial services: loans, mortgages, deposits, insurance and leasing, by pitting financial institutions against each other in a bidding process.
  • Bidvilla — Bidvilla is a bidding platform for home buyers and homeowners.
  • TechRadarRO — TechRadar.ro is a news aggregator platform focused on the Romanian content market.
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Climate-KIC
VC Fund · Zürich, Zurich, Switzerland · 2 investments in Romania SaaS startups

EIT Climate-KIC is a European knowledge and innovation community, working to accelerate the transition to a zero-carbon economy.Supported by the European Institute of Innovation and Technology, we identify and support innovation that helps society mitigate and adapt to climate change. They believe that a decarbonised, sustainable economy is notonly necessary to prevent catastrophic climate change, but presents a wealth of opportunities for business and society.

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Investment focus

  • Industry: CleanTech, Sustainability, GreenTech
  • Stage:Seed, Grant, Convertible Note
  • Geography: Germany, Italy, Switzerland

Investor stats

  • Total investments: 18
  • Round size: Seed $274k–$1.9M; Grant $17k–$99k; Convertible Note $54k–$55k
  • Lead/follow: 39% lead, 61% follow

Portfolio highlights

  • Afterwind — Afterwind® exists to preserve natural resources for future generations by recycling glass fibre assets into circular advanced materials with full traceability.We help asset owners and industrial manufacturers in Advanced Materials, Renewable Energy, and Construction recover and reuse end-of-life and byproduct materials without compromising theiroriginal properties, including glass and carbon fibres, PET and PVC foams, and resin powders.Team Afterwind is expanding across Europe, working on- or near-site to help our clients cut costs, CO2, and risks, while supplying stable, high-quality, circular advanced materials that deliver on EU Taxonomy and green targets.
  • RECYCLLUX — RECYCLLUX is making use of the collected satellite Earth Observation data and applies machine-learning algorithms to identify the marine plastic litter problem spots, where actions need to be taken.
  • GreenPow — GreenPow is a grid and carbon-aware cloud infrastructure platform that reduces AI and ICT emissions by up to 85% while lowering compute costs for organizations worldwide. GreenPow Holdings sits at the center of this group, owning the core intellectual property behind the MAIZX carbon-aware orchestration engine, the Carbon Ledger, and the automationframework deployed across private, hybrid, and sovereign cloud environments.Through its subsidiaries in Estonia, Germany, and Costa Rica, GreenPow operates renewable-powered cloud nodes, provides private-cloud-as-a-service for enterprises, and delivers a carbon-intelligent compute platform. It combines real-time emissions tracking, workload automation, and compliance-grade reporting aligned with CSRD, ESG, and data sovereignty requirements.Through customer aquisition and pilot experimentation, GreenPow delivers operative 78% gross margins and achieves around 52% CO₂ reduction per compute-hour versus baseline cloud workloads, while leveraging a distributed, high-efficiency infrastructure footprint. Its mission is to build the world’s first federated, carbon-intelligent cloud a platform where workloads automatically run in the cleanest and most efficient locations available.Positioned at the intersection of AI infrastructure, sustainability, and cloud automation, GreenPow is creating a next-generation compute ecosystem designed to power climate-aligned digital transformation for enterprises, governments, and emerging markets.Carbon-aware cloud, green cloud computing, private cloud, sovereign cloud, AI infrastructure, ESG, CSRD, carbon accounting, carbon optimization, cloud orchestration, hybrid cloud, multi-cloud, DevOps automation, clean tech, sustainability, green compute, iaas,paas.
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Alfabeat
VC Fund · Gdansk, Pomorskie, Poland · 2 investments in Romania SaaS startups

Welcome to Alfabeat, a specialist seed and early stage venture capital fundfocused on Enterprise SaaS companies from Central and Eastern Europe,backed by successful enterprise software founders.

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Investment focus

  • Industry: Software, Marketing, SaaS
  • Stage:Seed, Series A, Pre-Seed
  • Geography: Poland, United Kingdom, United States

Investor stats

  • Total investments: 26
  • Round size: Seed $199k–$4M; Pre-Seed $300k–$1.2M; Series A $2.5M–$13M
  • Lead/follow: 38% lead, 62% follow

Portfolio highlights

  • SunRoof — Roof of the future
  • Monetization Solutions, Inc. — Monetizr™ is a turn-key solution enabling game developers and game IP holders to sell personalized game gear from inside the game’s UI and create meta-experiences for high-value players. Give players more than they expect!★ Platform to design, import, and control product inventory, launch, and manage campaigns in real-time. ★ A technologysolution that enables a to sell personalized game gear or give away physical rewards right from the game itself. ★ Support for multi-languages and multi-currencies with the most popular payment methods, including ApplePay, GooglePay, CreditCards, PayPal, Bitcoin. ★ Handling product procurement, fulfillment, legal compliance, and customer support for you. ★ Knowledge-base with the best campaign tactics recommendations to enhance the experience for your most high-value players.We've increased customer lifetime value (CLTV) by up to 25% and our conversion rates are as high as 10.6%. Today we're working with more than 30 game publishers, reaching 17 million monthly active users. Monetizr is focused on Mobile Games - the fastest growing (29% YoY) segment of the gaming industry with 41% of market share and $56.4 Billion dollars spent on digital currencies annually.Learn more at www.themonetizr.com
  • Fluency — Fluency is a blockchain-empowered CBDC proprietary platform revolutionizing the existing financial system. Their blockchain enterprise smart contract platform was developed for the purpose of building and interconnecting national multi CBDC networks. Fluency Aureum allows issuance, distribution, and exchange of multi-CBDCs between central banks,commercial banks, merchants, and consumers. The company's proprietary technology is specifically tailored with the idea of bringing technological and economical innovations of digital currencies to the existing financial system.It was incorporated in 2019, headquartered in London, UK with subsidiaries in Delaware, US, and Dublin, Ireland.
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Cleverage VentureCapital
VC Fund · 2 investments in Romania SaaS startups

Cleverage Venture Capital

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Investment focus

  • Industry: Health Care, Medical Device, Information Technology
  • Stage:Seed, Pre-Seed
  • Geography: Romania, Czech Republic, The Netherlands

Investor stats

  • Total investments: 9
  • Round size: Seed $154k–$1.7M
  • Lead/follow: 33% lead, 67% follow

Portfolio highlights

  • Kardi Ai — With Kardi AI, we aim to offer medical grade cardiac home monitoring for a low cost by utilizing AI to achieve EKG level performance from a low-cost wearable that is available to the patient any time they need it. The Kardi AI kit is available from your cardiologist and contains all you'll need to have at home, cardiac monitoring whenever youneed. Kardi AI's artificial neural network will monitor and diagnose your heart every day, letting you know if you should contact your doctor or go to the emergency room.
  • Synaptiq.io — When Artificial Intelligence meets Medical Analysis - we create software solutions based on AI for improving medical services.
  • XVision — XVision is an automated x-ray analysis application that assists radiologists by providing accurate interpretations of medical images
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Portfolion
VC Fund · Budapest, Budapest, Hungary · 2 investments in Romania SaaS startups

Portfolion is a CEE-focused multi-stage investor with a flexible fund structure that allows it to back companies from or before 1st client until the end of their journey. The fund manager has backed some of the CEE region’s most successful companies including SEON, Novakid, Tresorit, Packhelp, and Starschema.

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Investment focus

  • Industry: Software, Information Technology, Artificial Intelligence
  • Stage:Seed, Series A, Series B
  • Geography: Hungary, Poland, United States

Investor stats

  • Total investments: 77
  • Round size: Seed $439k–$7.6M; Series A $1.6M–$13M; Series B $3.7M–$42M
  • Lead/follow: 42% lead, 58% follow
  • Last fund: May invest from a new fund soon — raised $82M in 2020

Portfolio highlights

  • NORBr — Build your no-code payment stack with the best payment providers. One API to rule them all. Move faster. Go further.
  • Kodesage — Kodesage captures your company's collective knowledge to help understand and modernize legacy code
  • Mobilfox — Mobilredfox offers phone cases and mobile accessories, focusing on protection and style for smartphones.
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TechAngels
VC Fund · Bucharest, Bucuresti, Romania · 2 investments in Romania SaaS startups

The Tech Business Angel Investors Group in Romania

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Investment focus

  • Industry: FinTech, Software, B2B
  • Stage:Seed, Pre-Seed
  • Geography: Romania, United Kingdom, United States

Investor stats

  • Total investments: 6
  • Round size: Seed $200k–$1M; Pre-Seed $143k–$549k
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • VoxiKids — VoxiKids transform speech therapy processes by moving them into the digital market. We’re bringing a SaaS platform to the e-health market, offering a selection of high-value materials designed by speech pathologists, as well as management tools that streamline the collaboration between parent and therapist, with the common goal of assisting thechild’s recovery and integrating them into the pre-school and school environments.Mission: VoxiKids digitalizes the speech therapy process in order to positively impact children with speech impairments and reduce recovery time, thus helping them better integrate into their social environment and school community. We can achieve this by bringing both parents and therapists together for the benefit of the child’s development.The problem: The e-health market is now in full expansion, with opportunities arising at a global level. Traditional speech therapy requires a dedicated space, work materials, and a qualified speech pathologist. But in a world caught in the fray of digitalization, where recent events have put even more pressure on us to digitalize as many processes as possible, we’ve also noticed a change in the way that speech therapy sessions can be carried out. Across the world, 34 million children are in need of access to speech therapy, and over half a million of them are in Romania.The real problem is that speech therapy practices are few and far between. There are countries where a parent must wait up to 24 months to gain access to therapy.The solution & its advantages: VoxiKids offers a complete multilingual platform for online speech therapy, which integrates specialized exercises created by speech pathologists, and the means to manage and track the progress of each child enrolled in therapy. Specially designed for language development therapies, it is thus helpful for speech pathologists, parents, and implicitly, children. In its final version, the SaaS platform includes 20 modules that cover: online therapy, content (such as exercises, homework, statistical data), administration (for instance billing, the handling of specific documents, patient management), communication (appointments calendar, relevant notes), patient management (tracking progress, adjusting therapies, appraisals, reports). Knowing that learning through play is an efficient method that can be integrated into the recovery process; the content and statistics present in the SaaS platform were also aggregated in the mobile app (for iOS and Android) in the form of interactive games so that children can continue practicing at any time and anywhere. VoxiKids respects the HIPAA and GDPR standards, being a trustworthy solution.Our main advantage is timing – we can be the first in a niche that will very soon be in focus for very large US/Israel players (and not only). The current context, which has given a boost to the e-health area, makes us even more attractive to end customers. Our product has the advantage of easy scaling in terms of software and content.Clients: Our beneficiaries are the parents, the children with speech deficiencies being the end-users. Our main clients are speech therapy offices, hospitals, and clinics.Business Model: VoxiKids mobile App (MVP), is based on 3 types of subscriptions. Upon download from the Apple or Google Play stores, it comes with 45 free exercises and an average subscription cost of 10 euro/ month, paid by the parent. The B2B subscription fee in the SaaS platform is based on the number of children added to the platform (between 2 and 5 euro per child/month) and the number of tools that the therapist requires access to – a speech therapy practice can thus have an average cost of 50 euro/month and can get up to 100 euro/month. Additional revenue may be generated via the dedicated marketplace, which will be added to the platform in September 2021.VoxiKids has demonstrated in just 1,6 years that an MVP model can be successful. We have over 10.000 downloads from Google Play alone and only on the Romanian market, and 4.000 active users/month. We estimate that, in 12 months, we will be able to generate an income of up to 60.000 euros/month, from the B2B segment. We are certain, however, that this potential will be strongly impacted by establishing the appropriate partnerships.Innovation – in order to enhance pronunciation, we will integrate an AI for speech, beginning with December 2020. With this module integrated into the mobile app, children can exercise their speech and pronunciation, helping them recover in a shorter time.Accessible digital platform: parents and speech therapists can easily navigate the application. VoxiKids has a friendly interface with a modern design and a UX that allows users to use it without having to acquire complex technical skills.Exit strategy: The growth of the e-health segment is more than obvious, especially in developed markets. Our exit strategy is based on product quality and on the fact that it will be difficult to replicate, thanks to the technologies incorporated within, as well as our coverage of a wide market in the next 5-6 years. Among key players that operate in this market and that may show interest in our product, we count Motion Computing Inc., Epocrates Inc., Telecare Corporation, Mediasafe, Set Point Medical, IBM, Doximity, Lift Labs, and Apple, to which we can also add private equity funds.
  • FilmChain — Managing end-to-end financial transactions for creative industries
  • FINOR — The all-in-one wealth management software which supports both clients and advisors in managing specific investment products, overseeing entire portfolio and tracking its performance, controlling the asset selection and allocation processes through indicative data, generating and exporting interactive reports in line with regulatory requirements.
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D Moonshots
VC Fund · 2 investments in Romania SaaS startups

D Moonshots in an investment fund created by Sacha Dragic, founder of the Superbet group.

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Investment focus

  • Industry: SaaS, EdTech, Software
  • Stage:Pre-Seed, Convertible Note
  • Geography: Romania, United Kingdom

Investor stats

  • Total investments: 3
  • Round size: Convertible Note $329k–$384k
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • Medicai — Medicai allows for in-the-cloud, real-time collaboration between doctors and patients on imaging investigations (CT, MRI, PET-CT, and more) and medical documents.
  • Bodyswaps — Bodyswaps is a SaaS soft skills training solution offering a library of VR and mobile simulations for management, diversity and employability training.
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VERBUND
VC Fund · Vienna, Wien, Austria · 2 investments in Romania SaaS startups

Austria's largest electricity provider

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Investment focus

  • Industry: Software, Car Sharing, Smart Cities
  • Stage:Series A, Venture - Series Unknown
  • Geography: Austria, Romania

Investor stats

  • Total investments: 4
  • Round size: Series A $1.6M–$1.6M; Venture - Series Unknown $3.3M–$3.3M
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Necture — NECTURE empowers businesses to unlock the full potential of fleets, seamlessly bridging the gap between mobility and energy. Combining human-driven information with data-driven intelligence, we provide tailored solutions that optimize operations, reduce costs, and achieve sustainability goals. Our AI-driven technology platform offers advanced dataanalytics, automation, and user experience for efficient fleet management. Going beyond mere intelligence, we translate data into real-world actions, minimizing environmental impact and driving a cleaner, greener future. NECTURE is building a world where electric fleets are not only possible, but thrive.
  • Ogre AI — Ogre AI is a data science company specializing in machine learning and artificial intelligence solutions
  • Necture — Ubiq enables mobility sharing operators to become profitable. Through demand prediction, demand fullfillment, predictive charging, dynamic pricing and policy compliance we provide tools for operational excellence.
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MMC Ventures
VC Fund · London, England, United Kingdom · 2 investments in Romania SaaS startups

MMC is a venture capital fund investing in early stage, high-growth UK companies. Investing in technology companies at Seed and Series A.

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Investment focus

  • Industry: Software, Artificial Intelligence, Machine Learning
  • Stage:Seed, Series A, Series B
  • Geography: United Kingdom, United States, France

Investor stats

  • Total investments: 231
  • Round size: Seed $1.3M–$10M; Series A $2.4M–$20M; Series B $6M–$54M
  • Lead/follow: 37% lead, 63% follow
  • Last fund: May invest from a new fund soon — raised $124M in 2019

Portfolio highlights

  • Gardin — We believe in a world in which everyone has the right to access high quality, nutritious food that is good for you and for our planet. Our environmental issues are real, something, somewhere needs to change. Gardin promises to create the step-change required by deploying its technology.
  • ABEX — ABEX Capital focuses on algorithmic trading for digital assets using machine learning and high-frequency trading engines. It offers "Algorithmic Best Execution" solutions for institutional clients and is registered with the FCA for cryptoasset activities
  • sable bio — We provide comprehensive, quantified, and flexible Target Safety Intelligence to assist toxicologists, informaticians, and drug discovery scientists in delivering safe and effective new treatments.
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Venture to Future Fund
VC Fund · Bratislava, Bratislava, Slovakia (Slovak Republic) · 1 investments in Romania SaaS startups

Venture to Future Fund is a joint initiative of EIB, the Ministry of Finance of the Slovak Republic, and the Slovak Investment Holding. It is the first venture capital fund of its kind in the CEE region that has lured EIB´s capital. We like hi-tech scaleups, however our focus is more generalistic. Our approach is more comprehensive and whatcounts the most is the innovation level, the overall uniqueness of the presented solution, and, of course, a skilled team with excellent execution power.We look for SMEs (Seed, Series A and beyond)) with at least a partially functioning and viable product that has been proved on the market and has first paying customers or signed contracts for the upcoming months.The minimum ticket is €0,5 million, average participation ranges from €1.5 – 2 million. We always invest alongside independent private co-investors based on the pari passu principle (50:50). Primary choice of preference are Slovak-incorporated SMEs or EU companies with capital link to Slovakia.

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Investment focus

  • Industry: Software, Information Technology, Internet of Things
  • Stage:Seed, Series A
  • Geography: Slovakia (Slovak Republic), Romania, United States

Investor stats

  • Total investments: 19
  • Lead/follow: no public data

Portfolio highlights

  • Sloneek — Sloneek is a cloud-based HR system that is easy to implement in small and medium companies. Your employees will love it & you will be able to manage your people more efficiently.
  • Patron GO — Patron GO is a fintech firm that uses AI to detect unnecessarily high costs on a customer's bank account and offers the best solutions.
  • SuperScale — SuperScale is an all-in-one Growth Platform that profitably scales games & blockchain apps to their maximum potential.
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Florin Pop
Angel · 1 investments in Romania SaaS startups

Florin Pop is the founder of Primainvest and investor of Telios, Foodprints, Aiva and others.

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Investment focus

  • Industry: Apps, Artificial Intelligence
  • Stage:Angel
  • Geography: Romania

Investor stats

  • Total investments: 1
  • Lead/follow: no public data

Portfolio highlights

  • Remote Butler — Remote Butler provides an application that helps to accepts orders in the native language of abroad visitors.
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Fil Rouge Capital (FRC)
VC Fund · Zagreb, Grad Zagreb, Croatia · 1 investments in Romania SaaS startups

Fil Rouge Capital (FRC) is an investment fund manager whose funds focus on early-stage businesses from pre-seed, seed, and Series A rounds of investment.

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Investment focus

  • Industry: Software, Information Technology, E-Commerce
  • Stage:Seed, Pre-Seed
  • Geography: Croatia, Slovenia, United Kingdom

Investor stats

  • Total investments: 112
  • Lead/follow: no public data

Portfolio highlights

  • GameBoost — Ranking up has never been easier. With GameBoost's cheap LoL and Valorant Elo Boosting Services.
  • Native Teams — With the Native Teams platform, you can easily hire anyone, anywhere as an employer or get an employed status if you're working as a freelancer. Explore our international EOR and PEO services and start working remotely with full compliance.
  • Native Teams — Native Teams is the all-in-one global platform for work payments and employment.We help businesses hire, pay, and manage talent across 85+ countries, without setting up local entities. Our platform handles global payroll, compliance, and taxes while empowering international teams and gig workers with flexible financial tools and multi-currencypayment solutions.Whether you're scaling your team or simplifying contractor management, Native Teams makes global hiring simple, secure, and cost-effective.Trusted by 1,500+ companies Operating in 85+ countries Up to 3x lower global employment costsGlobal payroll? Sorted. Compliance? Handled. Payments? Done.
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Dawn Capital
VC Fund · London, England, United Kingdom · 1 investments in Romania SaaS startups

We are a family of investors, entrepreneurs, strategists and operational specialists, drawn together by our passion for helping B2B founders build category-defining companies.

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Investment focus

  • Industry: Software, SaaS, Information Technology
  • Stage:Series A, Series B, Series C
  • Geography: United Kingdom, United States, Denmark

Investor stats

  • Total investments: 131
  • Lead/follow: no public data

Portfolio highlights

  • Doubleword — From research to reality
  • Inforcer — Standardize Microsoft 365 security policies across multiple tenants with ease using inforcer. Gain visibility, upsell security offerings, increase compliance and reduce risk. Book a demo now!
  • deepdots — Magic Feedback is an AI business creating a platform that compiles user reviews into one location and analyzes everything automatically using its own AI.
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Daniel Dines
Angel · Dover, Delaware, United States · 1 investments in Romania SaaS startups

Daniel Dines is Co-founder and CEO of UiPath, the fastest growing and leading provider of Robotic Process Automation (RPA) and AI software worldwide. Dines started UiPath in 2005 with the goal of building a solution that could help humans reduce the time and stress that come from menial, administrative business tasks. Today, Dines’ vision is tomake software robots, powered by computer vision and AI, as common as PCs in the workplace -- a vision dubbed One Robot for Every Person.Dines is committed to ushering in the “automation first” era, helping businesses of all sizes digitize everyday business operations and apply AI to drive true digital transformation. This era brings tremendous value to businesses and new career opportunities for people – which is why Dines aims to democratize RPA via free training and software, as well through UiPath’s Academic Alliance program, which trains and certifies university students, youth, and traditionally underrepresented groups – with an eye toward preparing people for the jobs of the future.Since incorporating UiPath in 2015, and moving its headquarters to New York in 2017, Dines has led the company through substantial growth – delivering intelligent automation solutions to thousands of companies around the world, including government agencies and many of the Fortune 500. He has raised more than $1B from top-tier venture capital firms, with a post-money valuation of $7B.Dines began his engineering career at Microsoft where he designed and developed the SQL Server Agent. Still a hacker at heart, he is active in driving the company’s RPA platform and supporting the 250,000 developers who are building automations on UiPath’s RPA platform.

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Investment focus

  • Industry: Software, SaaS, Artificial Intelligence
  • Stage:Series A, Seed, Series B
  • Geography: United States, Germany, United Kingdom

Investor stats

  • Total investments: 22
  • Lead/follow: no public data

Portfolio highlights

  • RobCo — Easily automate the repetitive tasks in your production facility with modular industrial robots from RobCo.
  • Goodlegal — Goodlegal is the One-Stop-Shop for all your Legal needs. Get an out-of-the-box Legal Infrastructure Platform to handle all your problems.
  • Avi Medical — Avi Medical is a digital health care company that provides telemedicine services. Its platform enables patients to book appointments, manage their health data, and chat with the practitioner. The company uses data-driven medicine to provide patients and healthcare workers with a streamlined, more modern experience.
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Lucian Despoiu
Angel · Bucharest, Bucuresti, Romania · 1 investments in Romania SaaS startups

Founder & CEO of Majoritas, leading political technology and communication consortium of companies, Lucian Despoiu is a serial entrepreneur with over 16 years of experience in the digital marketing industry and over 20 digital political campaigns all around the world.A result driven specialist, Lucian is one of the key innovators of thePolitical and Institutional Communication industries, with a vision of making research, data, technology and paid media work together for politicians and Governments all around the world. Under his leadership Majoritas Global has been influencing elections in Africa, Asia, Latin America and Europe through its 12 offices.To the group of companies in Majoritas Global, Lucian has recently added Majoritas Insights, a real-time research company, and Majoritas Academy, an educational initiative, and is currently working on developing a solution addressed to citizens willing to get involved in how decisions are being made in their society.

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Investment focus

  • Industry: Consulting, Information Services, Information Technology
  • Stage:Angel
  • Geography: Romania

Investor stats

  • Total investments: 1
  • Lead/follow: no public data

Portfolio highlights

  • BeeFast — BeeFast provides an all-in-one solution to manage, track, and deliver orders, making the entire process as simple as possible.
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KG Ventures
VC Fund · Saint Petersburg, Saint Petersburg City, Russian Federation · 1 investments in Romania SaaS startups

Corporate venture capital fund of the Kirovsky Zavod

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Investment focus

  • Industry: SaaS, Software, PaaS
  • Stage:Seed
  • Geography: Russian Federation, Serbia, Romania

Investor stats

  • Total investments: 6
  • Round size: Seed $112k–$300k
  • Lead/follow: 50% lead, 50% follow

Portfolio highlights

  • Ivitech — IVITECH financial platform works in SEA region and develop unique scoring models for risk evaluation and risk management.
  • TraceAir — Construction platform providing drone flights, 3D mapping, analytics, and data processing services to accelerate site work.
  • Pro Control — Pro Control specializes in the field of industrial automation, electric motor drives and electrical installations.
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Arts Alliance
VC Fund · London, England, United Kingdom · 1 investments in Romania SaaS startups

Arts Alliance is a venture capital organisation supporting a growing network of entrepreneurs. They have a "hands on approach" to investment and provide both creative talent and strategic advice to Portfolio Companies in the technology and services, and communications sectors.

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Investment focus

  • Industry: Advertising, Mobile, Fashion
  • Stage:Seed, Series A
  • Geography: United States, United Kingdom, Norway

Investor stats

  • Total investments: 40
  • Lead/follow: no public data

Portfolio highlights

  • Spoonshot — Spoonshot's technology leverages food science and artificial intelligence to predict consumer tastes and food trends. We've built our several solutions from this core technology to solve some of the food & beverage industry's key challenges.
  • Aprila Bank — Aprila is a product- and technology company offering innovative financial solutions to small and medium sized businesses. Aprila’s API-based technology platform is connected to around 130,000 SMEs through partnership agreements with leading online accounting systems and other relevant system providers.
  • Growth Street — Growth Street offers UK businesses a faster alternative to bank overdrafts.They see that many growing businesses need flexibility to manage their cashflow. Whether it’s managing the seasonal cycle of business or balancing invoice payments against outgoings, managing cashflow can take a lot of time, focus and energy. Often balancing the booksmeans delaying payments, leaning on suppliers or juggling costs, which can suck up your time, put pressure on your supplier relationships and generally make businesses less efficient.
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Hoxton Ventures
VC Fund · London, England, United Kingdom · 1 investments in Romania SaaS startups

Hoxton Ventures focuses on startups that either disrupt existing industries or invent entirely new market categories. Hoxton typically invests between $500,000 and $5 million into pre-seed, seed, and Series A stage companies, and follows its capital through the life of the company. The firm is based in London and invests all across Europe.

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Investment focus

  • Industry: Artificial Intelligence, Software, Information Technology
  • Stage:Seed, Series A, Series B
  • Geography: United Kingdom, United States, Canada

Investor stats

  • Total investments: 128
  • Lead/follow: no public data

Portfolio highlights

  • Druid AI — DRUID is an AI platform that allows companies to automate processes by designing and deploying UiPath RPA integrated chatbot virtual assistants.
  • Finster AI — Finster is your AI research partner for finance. Personalized, proactive, and private intelligence for investment banking and asset management teams.
  • Smartline — The world's most elegant health companion
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Constantine Goulimis
Angel · London, England, United Kingdom · 1 investments in Romania SaaS startups

Constantine is one of the founders (in 1985) of Greycon. Constantine was born in Greece and studied mathematics at Cambridge (BA, MA) and Control Systems at Imperial College (M.Sc.). He completed his Ph.D. in combinatorial optimisation, the cutting stock problem also at Imperial. He is particularly proud that some of the code he wrote then is stillin daily production use at many plants around the world, as part of Greycon's X-Trim.In the Greek army he learned, among other things, exactly how many chickens it takes to feed a regiment and has amassed collection of army stories to tell. He has also served as Deputy Director of the Industrial Systems Group at Imperial College. During 2010 he also consulted with the Greek Ministry of Finance, advising on how tax collection could be improved; the proposals were adopted a month later. In November 2013 he attended the 3-week Advanced Leadership Programme at Cambridge.

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Investment focus

  • Industry: FinTech, Software, Financial Services
  • Stage:Seed
  • Geography: Romania

Investor stats

  • Total investments: 1
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • Instant Factoring — Instant Factoring is a fintech factoring platform providing liquidity to small entrepreneurs in max 24h, powered by robot-underwriting, transactions transparency using the blockchain, and developing machine learning based credit risk algorithms. We enable entrepreneurs to reap the rewards of their hard work immediately, turning their invoices intocash as the easiest step to getting the money they need quickly, without the burden of bureaucracy, extremely long analysis and response time.Instant Factoring’s mission is to enable the development of small businesses by providing them with flexible and innovative financing solutions.The company estimates that more than 15.000 small businesses will use its services by the end of 2022, with an average value of invoice financed of approximately EUR 2.000. Distinguishing features of the platform include: the unique and patented internal credit-scoring tool, leveraging artificial intelligence and predictive analytics to provide fast credit decisions; registering the invoice portfolio ledger on the blockchain as an anti-fraud / double sale of an invoice, while in the near future we intend to implement smart contracts and payment ledger on the blockchain. Data and information is gathered from multiple sources and processed efficiently to rate customer invoices, and provide up front transparency on pricing. The internal algorithm is continuously improving through machine learning, bringing significant competitive advantage to the business.
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Ulpia Ventures
VC Fund · 1 investments in Romania SaaS startups

Ulpia Ventures is a venture capital firm that invests in early-stage to Series A-Level deep tech startups.

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Investment focus

  • Industry: Computer, Software, Web Design
  • Stage:Seed
  • Geography: Romania

Investor stats

  • Total investments: 1
  • Lead/follow: 100% lead, 0% follow

Portfolio highlights

  • BRUNCH — Brunch is a feedback tool for live websites that brings everyone involved with building better websites in one place. It's like pointing your finger at an element on a live website. No need to explain where that font is a bit bigger or that image is a bit pixelated. Click, add feedback, and share the link with your team. That simple!
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SIF Transilvania
VC Fund · Brasov, Brasov, Romania · 1 investments in Romania SaaS startups

Societatea de Investitii Financiare Transilvania S.A. (SIF Transilvania) is a closed-end financial investment company, self-managed in a dualist system and included in the category "Other collective investment undertakings (A.O.P.C.), with a diversified investment policy". The Company's share capital worth RON 109,214,333.20 iscomposed of 1,092,143,332 common shares issued at par value of RON 0.1/share. The shares are listed at the first category of the Bucharest Stock Exchange and have been traded on this market since November 1, 1999 under SIF3 symbol.

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Investment focus

  • Industry: Data Mining, Manufacturing, Internet of Things
  • Stage:Seed
  • Geography: Romania

Investor stats

  • Total investments: 1
  • Lead/follow: 0% lead, 100% follow

Portfolio highlights

  • KFactory — KFactory is an Industry 4.0 start-up which disrupts the manufacturing industry and innovates the performance management of production line.
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SaaS Investor funding in Romania at a glance

Stats across 259 deals from 212 investors.

212
investors
in Romania SaaS startups
259
deals
in Romania SaaS startups
$603k
median round
in Romania SaaS startups
54%
lead investors
lead at least one round
32%
Seed
most common funding stage
87/13
VC / Angel
share of investor count

Access all 212 investors in Romania SaaS startups.

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