SZTA injects HUF 60 mln into mobile app startup

Telco

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The Széchenyi Capital Investment Fund (SZTA), a venture capital fund established by the state to support SMEs, has injected HUF 60 million into Bconhunt, whose mobile application pairs bargain hunters with their favorite brands, Hungarian news agency MTI reported today.

Bconhunt aims to use the funding to enter the domestic market, SZTA said today. SZTA was drawn to the investment due to the preparedness of Bconhuntʼs management and the positive effects of the app, dubbed Bconshop, on retailers, it added. 

SZTA has injected almost HUF 13 bln of capital into about 90 Hungarian companies so far. European Union money makes up 85% of the funding.

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