Ukrainian IT outsourcing company S-PRO has raised funding from SARS Capital, an international investment banking firm specializing in financial consulting in Eastern Europe. The amount of the transaction, which was reported by Ukrainian tech blog AIN.UA, remains undisclosed.
S-PRO is an award-winning Ukrainian full-cycle software development company, incorporated in 2014. It specializes in digital solutions with AI and blockchain technologies, UI/UX-design and branding, cross-platform development, and the creation of mobile applications. The main focuses of S-PRO are fintech as well as healthcare and renewable energy.
The capital injection from SARS Capital will help the company find new customers in the Western European market and further scale its business.
“In addition to financing, we’re gaining the experience and networking of our partner, thanks to which we plan to sign the first deals with enterprise customers,” AIN.UA quoted Igor Izraylevych, S-PRO’s founder and CEO, as saying.
S-PRO has 150 employees with offices in Kyiv and Zaporizhzhia. The company expects to grow to some 1,000 employees in the next five years.
Co-founded by Ukrainian Andriy Sirko, SARS Capital is an international private investment banking company specializing in corporate finance consulting in Central and Eastern Europe, with offices in Toronto, Lucerne, and Kyiv. The company has made over $3 billion worth of transactions in the market for over 20 years.