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Stateʼs VC fund gives AC-Innovatiqua HUF 240 mln cash injection

Pharma

The Szechenyi Capital Investment Fund (SZTA), a venture capital fund established by the state to support SMEs, gave a cash injection of HUF 240 million to AC-Innovatiqua, which is the digital intelligence unit of Hungarian-owned Photel, a firm focused on digital customer service, SZTA announced today.

The website of photel.hu.

The investment will help AC-Innovatiqua to expand in the region, managing director Zsolt Lakatos said, according to state news agency MTI. AC-Innovatiqua started out with ten employees in the South Danubia region last year and plans to add 50 to its staff in the next two years, MTI said.


SZTA noted that the parent company Photel is among the 100 fastest expanding SMEs in Europe. Photel offers customer relations and customer service solutions and reportedly oversees an average of 4 million client transactions a year. Its partners include Magyar Telekom, Cetelem and British American Tobacco.


SZTA has invested HUF 13 billion of the HUF 14 billion in funds it received from the European Union (which gave 85%) and the Hungarian government (which gave 15%), MTI reported.

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