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Bizay secures EUR 20 mln investment from EIB

Friday 4 December 2020 13:14 CET | News

The European Investment Bank (EIB) has announced an investment of EUR 20 million in Portugal-based software company Bizay, according to ec.europa.eu.

The investment will be used to finance the implementation of Bizay’s research and development (R&D) programme and product development roadmap. One of Bizay's main focuses will be its tech-based B2B marketplace for customised products targeted at SMEs, such as retail stores, restaurants, hotels, and small corporates. This financing will also promote job creation in Portugal, a fundamental aspect for the European Union's post-COVID-19 economic recovery. 

This financing – in line with the European Commission's strategy to strengthen competitiveness and innovation in digital technologies – will further support Bizay's overall growth and geographic expansion plan and aims to create over 120 jobs in fields related to technology and business development over the next four years in Portugal.


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Keywords: Bizay, EIB, investment, Europe, European Investment Bank, SMEs, B2B, COVID-19, economic recovery, European Union, Portugal
Categories: Banking & Fintech | Payments General
Countries: Portugal
This article is part of category

Banking & Fintech