Eversheds Sutherland Wierzbowski has advised the EEC Magenta fund on its PLN 12 million investment in CashDirector, a financial platform supporting small and medium-sized enterprises in liquidity management. White & Case advised CashDirector on the deal.
EEC Magenta is a Polish CVC investment fund that was created by EEC Ventures in partnership with PFR Ventures, Poland's National Centre for Research and Development, and Tauron Polska. The EEC Ventures group manages venture capital funds with a total of PLN 210 million in assets.
The CashDirector platform automates accounting processes in small and medium-sized enterprises, and facilitates financial management. The platform makes automatic postings, fills out tax refund applications, and allows keeping of cost records.” According to Eversheds Sutherland, the investment by EEC Magenta will allow the Warsaw-based company to develop its product, strengthen distribution channels, and expand into Western European markets.
The Eversheds Sutherland Wierzbowski team consisted of Partner Michal Karwacki, Senior Associates Natalia Burchardt, Agnieszka Sagan-Jezowska, and Pawel Lasota, Lawyer Anna Wesolowska, and Associates Malgorzata Derus and Kamil Ciodyk.
White & Case’s team included Warsaw Local Partner Michal Petz and Associate Artur Kloc.