Primus has advised the Lithuanian Business Angels Fund on leading the EUR 1 million seed funding round of Vilnius-based open data platform Okredo.
According to Primus, Okredo is a SaaS platform that helps SMBs assess the credibility, financial strength, and sales potential of new and existing business partners and customers. The funds will be used to expand into new European markets outside Lithuania, by taking advantage of the EU’s passing of the Open Data Directive. Currently, Okredo is forecast to report annual revenue growth of 80 percent in 2021, having 2,700 corporate clients.
The Primus team was led by Partner Giedre Dailidenaite and included Senior Associates Greta Vozbutaite, Sarene Prankonyte-Segen, and Vilma Rakleviciene, and Associates Karolis Diska and Monika Murauske.
Primus stated it cannot provide information on other advisors.