Romanian virtual cash register Ebriza raises €300K in a funding led by Banca Transilvania

Photo: Ebriza Facebook page

Romanian virtual cash register Ebriza, a modern business management company, raises €300.000 in a funding led by Romanian bank- Banca Transilvania(BT), Romanian news agencies stated. Reportedly, Ebriza will use the funds to develop its own marketplace, which will give every business opportunity to connect its sales and management software to the product and service providers.

With this funding, this virtual cash register managed to increase their market value to €1,5 million, just a year after their first investment worth €70.000, the reported.

Besides BT as the main investor, the funding was also supported by Risky Business, the acceleration fund in Cluj, Marcelus Suciu, the founder of Marty Restaurants, and Dan Isai, the founder of Salad Box.

Omer Tetik, CEO @ Banca Transilvania / photo: Banca Transilvania corporate website

“We are happy to invest in this startup, which will help their clients better manage their businesses. As a bank for enterprising people, it is essential to support innovation and the development of a startup ecosystem, so that it is easier for entrepreneurs to do business in our country,” said Omer Tetik, CEO at Banca Transilvania in the press release published on their corporate website.

Cristian Dinescu, founder of Ebriza / photo: Dinescu’s LinkedIn profile

Founded in 2015 by Cristian Dinescu and Alexandru Mares, Ebriza was originally set up to be the first virtual cash register in Romania. But following several rounds of investment, today this startup completely transforms the concept of the cash register, as well as that of sales and business administration software. Today Ebriza significantly reduces the effort and cost of operation for cafes, restaurants, shops and traders of small startups that do not need to invest in expensive solutions for management and cash register. Moreover, the company provides a software that allows operators to access fiscal printers wirelessly, seamlessly integrated with their solution, just by using a tablet, in accordance with all applicable regulations. Their software is already used by more than 100 companies in Romania and from abroad.

Ebriza was one of the finalists of Startup Avalanche 2017, the annual competition for early-stage startups organized in Cluj-Napoca by Techsylvania and Risky Business. The company was also part of the first startup acceleration program launched by Risky Business Cluj.

Banca Transilvania, on the other hand, is the largest banking institution with a majority Romanian private capital. The Bank’s main activities are organized into three main business lines: individuals, SMEs and Corporate. In 2016 the Bank was selected as “The Best Bank in Romania” by the international magazine Euromoney.