SZTA injects HUF 60 mln into mobile app startup

Telco

Image by Pixabay

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.

ADVERTISEMENT

Pandemic has only moderate impact on big companies Analysis

Pandemic has only moderate impact on big companies

Parl't to vote on groundwork for commercial accommodation ra... Parliament

Parl't to vote on groundwork for commercial accommodation ra...

Duncan Graham reelected as BCCH president Appointments

Duncan Graham reelected as BCCH president

Budapest re-launches airport shuttle bus City

Budapest re-launches airport shuttle bus

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.