PRIMUS ASSISTS IN CLOSING A €1M SEED FUNDING ROUND OF VILNIUS-BASED OPEN DATA PLATFORM OKREDO

Funding round led by Lithuanian Business Angels Fund („Verslo angelų fondas II“), Czech venture capital fund amongst others as well as several undisclosed angel investors.

OKREDO is a SaaS platform that helps SMBs assess the credibility, financial strength and sales potential of new and existing business partners and customers. This round of funding will be used to expand into new European markets outside Lithuania by taking advantage of the EU’s passing of the Open Data Directive.

So far focused on Lithuania, OKREDO is already looking to expand into Latvia, Poland, and the United Kingdom. With the help of the seed investment, OKREDO will be able to scale also to Estonia, Germany, and Italy in 2022, taking advantage of those countries making open data available the soonest, before setting its sights to further afield.

Currently, Okredo is forecast to report annual revenue growth of 80 per cent in 2021, with 2,700 corporate clients on its books.

Project legal team was led by partner Giedrė Dailidėnaitė, and the team included Greta Vozbutaitė, Šarūnė Prankonytė-Segen, Vilma Raklevičienė, Karolis Diska, Monika Murauskė

Source: Okredo, Verslo Žinios, 15min, tech.eu, Startup Lithuania
https://tech.eu/brief/okredo
https://www.startuplithuania.com/news/okredo

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