Friboug Digital, part of investment fund Fribourg Capital, has announced its first investment in digital marketing start-up Baro.io.
The fund has provided EUR 80,000 in seed capital for the start-up, specialized in the automation of marketing campaigns.
“We believe that by having Baro.io in our portfolio we can get good synergies with other projects in which Fribourg Capital has invested such as SEO Monitor, Upswing or Planable,” said Dan Sturza, managing director of Fribourg Capital.
The start-up was created in 2016 by young entrepreneur Teodor Scorpan, currently working as CEO, and French Axel Le Borgne, who is the CTO of Baro.io.
The company handles the automation of Facebook campaigns and only has clients such as ejobs.ro, imobiliare.ro and Upswing.
“We hope that in three years we will be the main instrument for the management of online advertising campaigns, especially on Facebook, and to fully optimize the budgets of our clients,” said Scorpan.
Baro.io was accepted in Spherik Accelerator in Cluj-Napoca and the company’s activity went up from 200 campaigns processed monthly to 800.
Meanwhile, Fribourg Digital, the new division of the private equity fund founded by Ion Sturza, is looking to make investments in start-ups working on block-chain, fintech, AI, algorithms for machine learning and cloud-based solutions.
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