Russian startup iqPOSitive acquired by the US-based Revel Systems
iqPOSitive develops cloud automation solutions for restaurants, and they are tablet-based. By the end of 2015, iqPOS was deployed in over 200 restaurants, mostly in Russia. In the beginning, the founders had hard time finding an investor, but in the end of their journey Revel Systems got interested in their product and Russian restaurant market in general, and the acquisition deal was signed. The buyer is a leading industry player with more than 25,000 clients across the world. More info.
Latvian peer-to-peer lending platform TWINO funded with over €40M
TWINO, a peer-to-peer lending platform from Latvia, has been funded with over €40M, which makes it the fastest growing and the third largest peer-to-peer lending marketplace in Continental Europe.
Investors take a big financial interest in TWINO as they can earn about 12% return on average, which is rather profitable compared to today’s unstable stock markets. Check out the stats below.
Twino stats
TWINO has attracted more than 3,500 investors from 30 countries. The investors are offered to fund consumer loans across Latvia, Georgia, Poland and Denmark safely, as they are protected against defaults and can take back their money quickly. Details here.
August news from #estonianmafia: Scoro, Skeleton Technologies, Starship
Macedonian startup Letz secures €100K in a seed round
Letz, a Skopje-based startup, got €100K of seed investment from South Central Ventures. Last year the startup was backed by Rockstar Accelerator in Amsterdam where it has an office now.
The company offers an AI-powered chatbot that boosts the productivity of users. It engages into a conversation, reminds users of the tasks and motivates them with funny comments. The first customers are young professionals and non-business people. The product will be launched on October 5th. See more here.
U.S.-Ukrainian big data startup Galactic Exchange raises $1.25M
Big data software developer Galactic Exchange, which is headquartered in Silicon Valley, raised $1.25M from Floodgate and Signia Venture Partners.
The company develops ClusterGX, a container-virtualized cluster compute platform which will simplify the deployment of Hadoop/Spark based infrastructures and associated analytics applications, both on-premise and in the cloud. In other words, the technology will allow businesses to use big data in the simplest, fastest and cheapest possible way. The ClusterGX product line will be available for general download at the end of September. Details here.
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