Oriana closed another capital raising of 700 million

Oriana closed another capital raising of 700 million

The company’s long-term goal is to expand the European partner network.

Oriana International Zrt. closed its second round of capital raising with Hiventures, a member of the MFB Group. In addition, several new private investors are participating in the financing of the startup: Dr. Csaba Szőke and his family, as well as Invescom M&A Tanácsadó Kft., also voted in favor of the development of the low-code technology platform. The rapid development of business needs fundamentally reshapes the everyday life of a company. One of the important – if not the most important – goals of digital transformation is to ensure that the necessary information is always available in today’s high-speed environment. And this cannot be done, or is difficult, with classic development tools and methods.

Low-code transforms the development of business applications

The development of systems that adapt to constantly changing business needs is fastest when the development itself is brought closer to business life. Development platforms that do not require deep developer knowledge were created to support this. These are the so-called low-code or no-code technologies. “Newer platforms like ours provide ready-made components and samples – like building blocks – so that smaller or even complex applications can be quickly built from well-designed elements with an average of 50% of the time required for individual development and 35% lower costs .” – said Richárd Basa, managing director of Oriana. Founded in 2002, following a merger, Oriana has been involved since 2019 in solving the most complex process automation challenges of organizations operating in the private and public sector and in the digitalization of their businesses. In recent years, Oriana’s partner network has also expanded significantly, currently with 22 active partners across Europe, they are present in 8 countries, including the United Kingdom, Germany, Switzerland and Poland. Part of the capital now raised from Hiventures and Dr. Csaba Szőke and his family will be used to develop further foreign and stable partner networks. “With the capital raised, we will continue to develop the Oriana platform and the applications running on it, which our customers and partners will soon be able to use. We believe that our latest software will bring about a paradigm shift, as it will facilitate the development of the business logic running on it more than ever before. , expansion, and the use of prefabricated elements.” – added Richárd Basa. “There is enormous potential in the low-code market, as evidenced by Oriana’s growth and business results so far. That is why, and thanks to the experienced management, the new round of investment was an easy decision.” – said Dénes Szluha, director of Hiventures’ growth investment program. In addition to the venture capital investor, international angel and family office investor Dr. Csaba Szőke (and his family), who also contributed a significant amount to the capital increase, will contribute to the entry into the international market. In addition, Invescom entered the ownership circle as a professional company capable of preparing and conducting further investments. With their more than 20 years of experience as M&A consultants, they help keep capital raising and exit options in focus for further strategic steps as well.

Oriana’s long-term goal is to expand the European partner network

“Our most important goal at the moment is to further expand the number of elements and applications available on the platform, as well as to develop No-code and its integration capabilities. The Covid period slowed down our foreign expansion a bit, but this year we are already seeing the shift,” said Richárd Basa. Oriana also conducts partnership negotiations in the Spanish and Greek markets, and several corporate users are currently developing their own software on the Oriana Platform, which significantly speeds up their market entry and reduces their risks.Hardware, software, tests, interesting and colorful news from the world of IT by clicking here!

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