The American start-up Zipongo, in which Romania app maker Zitec holds a minority stake, has raised USD 18 million in a new financing round. The Silicon Valley-based company has been able to attract USD 28 million up to now to finance the development of various apps in the nutritional area.
Romanian software company Zitec estimates a year-on-year increase of 70% in turnover this year and a team of 130 employees, according to Alexandru Lapusan, the company’s manager, cited by local Hotnews.ro.
Romanian software producer Zitec upped its sales by 50% in the first half of this year, to some EUR 1.5 million. The company, which makes online applications, generated half of its revenues from local clients, and half from international clients, said Alexandru Lăpușan, CEO and founder of Zitec.
Romanian software company Zitec recorded a turnover of EUR 2.3 million in 2013, up 60 percent year-on-year, according to the company. Half of the company’s revenues came from projects delivered abroad