Allegro has become the major shareholder in ePayment. The transaction was completed in August 2010, for an undisclosed amount. Daniel Nicolescu has been named as the new CEO of ePayment.
Prior to the acquisition, ePayment was spun off into the Avangate division, the international provider of the electronic software distribution and associated services, headquartered in the Netherlands, which became an independent company.
“Allegro brings with it a lot of experience in the eCommerce business, with operations in most of the major Central European countries. I am certain that this will greatly benefit the customers of ePayment in terms of both product offering as well as services. I will continue to be involved with the company and provide support as I have done in the past”, added Radu Georgescu.
Bucharest, August 12, 2015. Coinify announced the acquisition of Coinzone, a leading Bitcoin payment provider, marking Gecad Ventures fifth international exit. Coinzone was launched in 2014 as the first full stack European Bitcoin solution. By using Coinzone, users can buy, sell, trade and transact with Bitcoin. By integrating Coinzone’s technology, the new partnership between the two companies will result in a number of new opportunities […]
Bucharest, October 7, 2013. Gecad Ventures sells its majority stake in Avangate to California based private equity firm Francisco Partners, this being the third significant international exit for the Romanian technology venture group in the last 10 years. Gecad Ventures has announced the sale of 100% of international ecommerce solutions provider Avangate to California based private equity firm Francisco Partners, […]
Bucharest, October 5th, 2017. GECAD NET, one of the first entrepreneurial venture of Radu Georgescu has been acquired by Bittnet Systems, a Romanian company that focuses on IT trainings and delivering end-to-end IT infrastructure services, being also the first Romanian tech company listed on the Bucharest Stock Exchange. With over 25 years of experience in […]
London, November 25, 2015. Gecad Ventures has participated with an additional equity of USD $2 million in the recently concluded investment round of Vector Watch. Other investors in this USD $5 million funding include Catalyst Romania and a group of high net worth individuals. With this recent investment, Gecad Ventures remains the largest single shareholder of […]
Bucharest, March 11 2014. Gecad Ventures announces a new exit, the takeover of Axigen Messaging by a group of four Romanian entrepreneurs with investments in the local IT industry. The value of the transaction is confidential. Axigen was launched in 2004 with the aim of delivering top e-mail communication technology in Romania and abroad. The Axigen technology […]
Bucharest, March 9, 2016. Smart Bill, Romanian provider of billing solutions and SaaS services, has secured a EUR 1 million investment from Gecad Ventures and Catalyst Romania. Smart Bill has been advised by Gecad since 2013 and the raised round will be used for the development of the company. “This investment gives the company the fuel it needs to […]
London, November 5, 2014. Gecad Ventures launches a new London-based project called PawSquad, a marketplace dedicated to pet lovers. The company is run by a team of British dog enthusiasts. PawSquad is a marketplace that connects pet owners to pet care providers (vets, trainers, breeders, nutritionists) over multiple touch points. The company’s goal is to make pets healthier […]
Bucharest, June 10, 2003. Microsoft Corp. announced it has signed a definitive agreement to acquire the intellectual property and technology assets of Gecad, a provider of antivirus technology based in Bucharest, Romania. Terms of the acquisition are confidential. Microsoft’s acquisition of Gecad’s technology will help secure customers by providing antivirus solutions for Microsoft® products and services. In […]
Bucharest, January 10, 2017. Gecad Ventures sells its majority stake in Vector Watch to Fitbit, marking one more important global exit for the investment fund. The terms of the transaction are confidential. Vector Watch, known for its innovative and cross-functional approach to design and development of wearable technology, has recently reached an agreement with Fitbit […]
Bucharest, October 27, 2016. Gecad Ventures has led the first seed investment round in TypingDNA, a Romanian behavioral biometrics cyber security startup based on artificial intelligence. For this round, Gecad Ventures has also syndicated a group of local business-angels, terms of the acquisition being confidential. TypingDNA is a cyber security SaaS that uses AI to identify […]
Bucharest, January 31st 2019. Gecad Ventures participated with a follow-on investment in the recently concluded investment round of TypingDNA. Romanian AI-based typing biometric secured $1.5M funding from several investors including GapMinder and other international investors. Multiple award-winner, TypingDNA became one of the most exciting players in the typing biometrics space, with one of the most […]
Bucharest, February 28, 2017. Radu Georgescu, Founding Partner at Gecad Ventures, took the gong home for Business Leader Of The Year at this year’s Business Review Awards. On Monday evening, in an fairy-like atmosphere that would definitely compete with the Oscars, took place the 2017 Business Review Awards. 200 high-ranking representatives of the business environment, […]