A major Hungarian corporate venture capital investor is set to provide a EUR1 million mezzanine finance facility to a Budapest-based cloud delivery firm. The agreement was concluded between Docler Investments and cloud firm CE On-Demand.
“Docler Investments has been looking for innovative businesses with considerable growth potential and international track record. CE On-Demand proved to possess all of these qualities and a valid business plan for the future”, said Zoltán Bernáth, managing director of Docler Investments Ltd.
Founded in 2008, CE On-Demand has been tipped as one of the seven leading cloud enablers for telecom operators by Informa Telecoms & Media, and is present in 15 countries worldwide. The firm creates cloud providers by assisting telcos, systems integrators and direct end customers to realise and implement their cloud strategies.
Viktor Kovács, Founder and CCO of CE On-Demand said: “We see an increasing demand from the market for cloud brokerage that we can best capitalise on by enhancing our services portfolio to offer specialist and localised services to our customers. With the extended services portfolio, we aim to give partners the ability to build ecosystems that connect their customers to a wide variety of solutions and enabling them to take advantage of the business benefits of the cloud. This financing facility will also help CE On-Demand to expand to the Middle East, North Africa and Asia, emerging markets with a high cloud imperative.”