Okredo, a Vilnius, Lithuania-based software-as-a-service or SaaS platform that assists SMEs with assessing the credibility, financial strength, and sales potential of business partners and other clients, raised a €1 million seed round.
The round was led by Lithuania’s Business Angels Fund and Presto Ventures, along with contributions from Startup Wise Guys and several angel investors.
The proceeds from this latest investment round will be channeled towards expanding into new European markets, amidst an environment of increasing regulatory support for open data.
Company: UAB Okredo
Round: Seed Round
Funding Month: November 2021
Lead Investors: Lithuania’s Business Angels Fund and Presto Ventures
Additional Investors: Wise Guys
Company Website: https://okredo.com/
Software Category: Open data platform
About the Company: Founded in 2015, Okredo is an open data platform providing data and insights for sales increase and credit risk mitigation. Okredo’s SaaS platform helps SMEs assess the credibility, financial strength, and sales potential of new and existing business partners and customers. With AI-powered analysis, Okredo enhances raw, open data and packages as part of modules and reports via a customizable web-based GUI. Currently, Okredo has 12,000 users, with 2700 corporate clients.