Stratulat Albulescu has advised GapMinder on its EUR 600,000 investment in FintechOS. DLA Piper advised Fintech on the deal.
GapMinder, which is the first venture fund created as a result of the selection process started by the European Investment FundGapminder, collaborates with universities, the UN, public agencies, and non-governmental organizations. According to Stratulat Albulescu (SAA), "mostly financed by the Competitiveness Operational Programme 2014-2020, while the European Regional Development Fund provides a share of the capital, the fund acts as part of the European Cohesion Policy. The Competitiveness Operational Programme 2014-2020 supports investments aiming to address the challenges stemming from the low support for research, development and innovation and the under-developed information and communication technology services and infrastructure. By investing in these areas, the COP aims to contribute to bolster the competitiveness of the Romanian economy."
SAA describes FintechOS as "a company specialized in the digital transformation of financial institutions and has a USD 5Bn managed assets portfolio and operations on three continents. The company started less than a year ago, has grown quickly in that time, and aims to become the #1 enabler of digital innovation in financial institutions worldwide."
The investment is designed partly for an increase in share capital and also for loan convertible equity of EUR 500,000. According to SAA, "the investment will finance the expansion of operations globally and accelerate the development of AI technologies."
The SAA team included Managing Partner Silviu Stratulat, Managing Associate Cristina Man, and Head of IP Ana Kusak.
The DLA Piper team was supervised by Managing Partner Marian Dinu and led by Counsel Cristina Bucur. Counsel Ana-Maria Andronic led the firm's IP team on those aspects of the deal, and Partner Tudor Nedelea led the tax team.