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MFB Invest subscribes HUF 490 mln CyBERG bond

MFB Invest, a unit of the state-owned Hungarian Development Bank (MFB), has subscribed a HUF 490 million bond issued by CyBERG, a company listed on the Budapest Stock Exchangeʼs Xtend platform which runs Kajahu, a "social digital restaurant chain", state news wire MTI reports, citing a disclosure posted on the bourseʼs website shows.

Picture: Facebook

CyBERG said in April that it signed a memorandum of understanding on acquiring a stake in Coffeeshop Company. Earlier, CyBERG signed a cooperation agreement with Coffeeshop Company on rolling out its "Food/drinks For Free Anywhere" (3FA) business model at the franchise operatorʼs cafes.

The "Food for Free" business model generates additional revenue through ads, commissions, cross-selling and subscription-only content. Revenue from such digital services could overtake food service revenue once the Kajahu franchise network reaches critical mass, according to CyBERGʼs strategy.