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Cellum, Hungary's market leader in developing mobile payment technology, has established a joint venture in Bulgaria with the country's Corpbank, the company told MTI on Friday.
Cellum Bulgaria's office in Sofia was opened by Cellum Global chairman-CEO János Kóka and Corpbank CEO Ilyan Zafirov.
Cellum signed an agreement on establishing the JV last September.
Venture capital fund PortfoLion, a unit of OTP Bank, Hungary's biggest commercial lender, recently invested HUF 400 million in Cellum Global which was set up to support Cellum's expansion on foreign markets.