7th June 2016, Belgrade – South Central Ventures (Enterprise Innovation Fund – ENIF) invests in City Expert, a startup that successfully innovates in the real-estate market. The first investment round is €700,000.
Last year, City Expert exploded onto the Serbian real estate sector, introducing novelty technologies that directly benefited the end users. Quickly gaining traction, it continued to improve and attracted the attention of South Central Ventures. South Central Ventures is the biggest venture investment fund in Serbia that invests €40 million in tech companies in the Balkans. Having recognized City Expert’s potential and fresh approach in a technologically backward industry, South Central Ventures invests €700,000 in growth and expansion of the company. The investment will ensure the introduction of even more technologically advanced features that will create value to customers
“The company started off as a startup, and is still a startup, no matter the success achieved in less than 2 years of operations. The focus of the company is on development of new technologies that simplify the process of lending and renting real estate, and expanding the business in other international capital cities. At first, we as founders had a vision to bootstrap and finance the development and expansion by ourselves from the revenues. However, our fast results made us attractive for investors. South Central Ventures recognized the potential and decided to invest to enable a faster pace of development. Moving quicker and expanding is also part of our vision and we are grateful for the opportunity to cooperate with South Central Ventures on the road to achieving the global vision.”
– stated Igor Jović, a City Expert co-founder.
City Exert was founded in 2015 by six young experts. Igor Jović, Milan Todorović, Stefan Stojanović, Boris Prpić, Darko Luković i Darko Krsmanović who succeeded in reaching 35,000 loyal clients and have 900,000 users of the website in less than a year. The confidence from the home owners and the customer satisfaction motivates the team to be even more dedicated, exceed the trust and expectations given and keep moving the boundaries of the real estate market.
South Central Ventures: South Central Ventures (Enterprise Innovation Fund – ENIF) is a €40 million Fund, dedicated to investments in startups, small and medium tech-companies in Western Balkans. Investors in the Fund are diverse ranging from international financial institutions, such as EIF, EBRD and KfW to regional corporations, individual investors and regional governments. ENIF aims to support the startup system in the region, and help founders daring to bring their businesses to global markets.