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Cyberg planning capital raise

Innovation

Balázs Rózsa

Digital platform developer and fintech solutions provider Cyberg announced plans to raise capital to assist with rapid market expansion.

The company envisioned two possible scenarios for creating an opportunity for venture capital investment: via a newly created project company (SPV), and a private placement of shares in the publicly listed parent company.

Successful capital injections, the results of improvements and acquisitions can increase the liquidity of Cyberg shares and create the possibility of a possible stock exchange reclassification on BSE, according to a press release sent to the Budapest Business Journal.

The company has developed three stable business units and achieved a positive EBITDA result in the past year. Three three business units are AnyUpp e-commerce, gaming, and fintech development.

AnyUpp is a universal commerce and loyalty platform. The group's proprietary application currently offers a cloud-based mobile ordering and payment solution for restaurants, and will eventually offer e-commerce services to other sectors.

The fintech business unit develops blockchain and artificial intelligence for financial services provider PayCap, making financial services cheaper through digital developments.

The gaming business has several years of game development experience working on global projects for the world's leading companies, typically providing software engineering services to partners developing distributed video game systems of up to tens of millions of users. Its clients are primarily game development companies of the U.S. West Coast.

The AnyUpp mobile ordering and payment application is the group's core business. The service debuted in the summer in the Kajahu Corvin showroom and, following integration with market-leading POS software, will be launched in several establishments this year. Roll-out preparations are underway in the Cafe Frei café chain, among others.

The social changes brought about by the coronavirus have further increased e-commerce and made foodservice managers and consumers more welcoming to digital services. In recent months, labor shortages and wage tensions in the catering industry have further increased market demand for AnyUpp, Cyberg notes.

"With the new funds raised, our Company will continue to expand the business, increase developer capacity, continue AnyUpp's market expansion and related AI-based developments, optimize capital costs, and fund further acquisitions," said Balázs Rózsa, CEO of CyBERG.

Successful capital injections, the results of improvements and acquisitions can increase the liquidity of CYBERG shares and create the possibility of a possible stock exchange reclassification on BSE.

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