Romanian IT company to invest in two European startups in London and Amesterdam

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Zitec, a Romanian local online applications company, decided to invest EUR 150,000 in two startups in Western Europe, namely in London and Amsterdam. The first one, Citinite, is focused on providing marketing and promotion tools for the event organizers worldwide. Citinite is addressing the London market in the first instance, while the second startup, cosQuare is meant to create an international community of online shopping with global focus.

„Startup investments are part of our international expanding strategy and we decided to focus on two such startup businesses in Western Europe for the beginning of this year. We trust the potential of these two teams and we plan to be actively involved in their development, not only on software and IT consulting services, but also on business guidance,” Alexandru L?pu?an (photo inside), CEO and co-founder Zitec told a press release.La?pus?an

Citinite is an intelligent marketing tool for the nightlife, aiming at becoming the main resource for promoting events worldwide, while offering the organizers a digital solution allowing a high interaction level with their target audience. More precisely, the startup will enable event organizares and pubs’ managers to advertise their events in various locations in London, while the final users wil get recommendations for events, depending on their choices. Citinite launching is due in London this month and it will be available on the entire UK territory, but also in New York, Boston or Kong Kong within a year time.

„Zitec placed itself on record due to its availability to come up with new ideas and with the desire to initiate long term relations with the partners (…)”, Citinite founder Josh Krysiak told the same press release.

On the other hand, cosQuare intends to become the first socializing network dedicated to companies, also including the unique option of immediate purchase. Thus, the buyers are interacting through this platform to discuss, to analyze and directly buy products on cosQuare without being redirected to the websites of other companies or suppliers. As for the companies, they will benefit of the possibility of creating and managing online shops through cosQuare, where they will be able to sell their products. It aims at rising the sales volume by offering new direct links between the two parties, using the direct conversion instead of advertising. The software launching is scheduled for the last quarter of 2015.

„We found in Zitec a proper partner for cosQuare especially due to their startup business experience (…) I am truly appreciating this company’s know-how and competences,” Duco Hiensch, cosQuare founder said.

Until now, Zitec especially invested in startups in USA, such as Zipongo, Online.Tv, or, so Citinite and cosQuare are the first start ups in Western Europe. In its portfolio there is also a Romanian start up, HAC!BD comic publishing house, popular in Romania due to „Harap Alb goes on” magazine.

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