The Ukrainian startup from the Netpeak Group’s ecosystem — Saldo Apps — has raised a Pre-Seed round from a group of investors led by hi5 Ventures.
The company does not disclose the amount of the financing. However, according to Forbes’ information with reference to the company’s representatives, the Pre-Seed rounds are usually up to $700,000, — AIN.Capital reports.
Key Messages:
- Saldo Apps has raised a Pre-Seed round from a group of investors led by hi5 Ventures. The amount of the round is not disclosed (Pre-Seed is usually up to $700,000). Investments are made on the terms of SAFE (Simple Agreement for Future Equity — traditional terms of the Pre-Seed round), which do not involve valuation of the startup.
- This is the first external investment round. Until now, the startup has been developing with the money of the founder Radomyr Novkovych and founding investors (Artem Borodatiuk and Oleksiy Borshch from Netpeak Group)
- Saldo Apps was founded in 2019 by Radomyr Novkovych. Mykhailo Popchuk founded another startup, ORTY, and in 2021, these two companies merged. In 2022, Mykhailo Popchuk left the business in May 2022.
- Novkovych told Forbes that the startup reached the mark of $1 million in revenue last year. He does not disclose this year’s company figures.
- Saldo Apps will use the raised funds to improve the product and build a unified ecosystem. Currently, Saldo Apps is a single product that includes four available apps: Invoice Maker, Mileage Tracker, Receipt Scanner, and Saldo Finance. Additionally, the team has additional applications in development to meet all your accounting needs.
