HTEC, the world’s leading software company and technology research and development (R&D) provider, plans to strengthen its business through a partnership with the European Bank for Reconstruction and Development (EBRD) in the form of a 12 million euro loan. Half of the amount is co-financed by the Enterprise Expansion Fund (ENEF), an institution that finances small and medium enterprises with high growth potential, in order to support the development and expansion of their business, the EBRD announced.
HTEC is a Serbian company based in San Francisco and a growing network of R&D offices in Southeast Europe. HTEC provides services to many international clients, from companies with secure shares (so-called blue chip companies) to technology startups in sectors such as retail, healthcare, transport, logistics, digital media, telecoms and financial and payment services, where state-of-the-art IT solutions play an essential role, especially in light of the corona virus pandemic.
The loan will support the growth and development program of HTEC, the first phase of which envisages the purchase of the Serbian IT company Execom. The joint venture will have 600 engineers working on product development, cloud platforms, web and mobile technologies, artificial intelligence as well as hardware engineering.
The EBRD states that this is an opportunity to cooperate with a leading technological consulting and engineering company for R&D and to participate in the development of the Serbian IT industry, which makes a strong contribution to the country’s GDP, eKapija reports.
