"There is still a lack of investment opportunities" in Slovakia, according to the founder of a Slovakia-based fintech, despite its growing reputation as a startup hub.
Speaking on the Tech.eu podcast, Tibor Zavadil, founder and CEO of fintech startup DigFin, the digital mortgage startup, highlighted the startup’s struggles to bag funding from Slovak VC firms.
In particular, Zavadil spoke about its struggles to secure its first funding round from a Slovak VC, which he said was owing to global economic challenges at the time.
Zavadil also pointed out that DigFin could not get a Slovak investor to fund the startup’s bridging round, so instead it sought investment from the US.
However, he said the situation was improving with the number of VCs growing in Slovakia.
Zavadil appeared on the podcast along with Dominik Sadlon, director, ABFSwap, a crypto startup based in Bratislava, the capital of Slovakia.
The pair discuss the positives and negatives of being a startup located in Slovakia, which has a population of under five million.
On the plus side was “very convenient” access to nearby markets including the Czech Republic, Poland, Hungary and Germany as well as a skilled workforce in areas like cyber security and software development.
On the negative side was Slovakia’s small population and the lack of a fully developed VC ecosystem.
Slovakia has a growing reputation as a startup economy with AI, blockchain, fintech, and gaming hot sectors, bolstered by a collaborative environment of incubators and accelerators.
Examples of talked-about startups from the region include Brightpick, Fuergy and Sensoneo.
Would you like to write the first comment?
Login to post comments