Naše investičné portfólio sa rozšírilo o spoločnosť Product Fruits, ktorá získala investíciu vo výške 1,6 milióna eur
Investície
BRATISLAVA, March 29, 2023 – Last year, a Czech startup on the application market gained millions of users worldwide. Recently, the LEVERAGE investment group and the Slovak venture capital fund Venture to Future Fund joined the company.
The app market is evolving, and users only pay for apps whose features they quickly understand. Product Fruits is a digital adoption platform that helps companies introduce new digital technologies and processes. It gained millions of users in one year.
With Product Fruits, companies can create interactive guides, tips, tricks or tutorials for their apps and make them more user-friendly. Product adoption leads to higher conversion to paying customers, fewer demos, increased upsells and reduced customer care costs. All this without programming knowledge or the need to interfere with the application itself - the tool works as a floating layer above it.
“Today, if companies convert 15% of their app's users from a free trial to paying, with our product, the percentage willing to pay will increase to 25%. New users will understand the application better and faster. For the company, this means a 65% increase in revenue," explains Karel Papík, co-founder of Product Fruits. "We offer a platform that companies can easily deploy and immediately see an increase in sales and a decrease in costs," explains the second co-founder, Ladislav Šalom.
The company started selling the new service in January 2022. In a year, it has already helped millions of users worldwide and has clients in the US, Brazil, Germany, Taiwan, Singapore, Australia and Mexico. "We recently opened a branch in California," adds Shalom about the company's expansion. The company's turnover grew by an average of 30 percent per month last year. The company has approximately 5% of customers in the Czech Republic. Examples include Keboola, Tabidoo, Boostspace, Stavario and Twigsee.
In addition to the growth in turnover, the startup is also growing in terms of personnel, they have doubled the number of employees. Growth is financed not only by turnover, but also by investments, which reached EUR 2 million. The Leverage group, which was already involved in the Aukro and Liftago projects, joined the company most recently. "We are happy that we are entering a promising global project with experienced founders, whom we want to support in further growth," says Matěj Boruta from the LEVERAGE group. Together with LEVERAGE, the second new investor is the Slovak Venture to Future Fund. "We like that a large part of the funds will be used for the implementation of artificial intelligence and there is a potential to move the market to a higher level," said Miriama Kováčová, Board member of Venture to Future Fund.
Product Fruits has clients in Industry 4.0, insurance, education, gaming portals, data analysis and more. Ladislav Šalom, a developer with experience in Socialbakers or Trivi, and Karel Papík, with experience in developing computer games such as Cold War or Painkiller: Overdose, are behind the project. He is one of the authors of the successful game Dragon's Den and was also the editor-in-chief of Score and Gamestar magazines.
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About Product Fruits
The company is focused primarily on SaaS (Software as a Service) product developers who offer their software as freemium or free trials. It has been offering its products since January 2022 and currently operates in more than thirty countries.
About the LEVERAGE group
LEVERAGE is an investment group investing in Internet companies operating on the e-commerce market in Central and Eastern Europe, founded by Matěj Boruta, Jan Boruta, Lumír Kunz and Václav Liška. The value of the managed assets of the founders and the LEVERAGE group is estimated at more than 1.1 billion CZK.
About Venture to Future Fund
VFF is the result of a joint initiative of the European Investment Bank and the Slovak Ministry of Finance through Slovak Investment Holding. It is the first venture capital fund of its kind in the Central and Eastern European region that has lured EIB´s capital.
10.05.2023