The March edition of the Catalyst Romania Newsletter

The March edition of the Catalyst Romania Newsletter

We are excited to share updates on our latest activities and insights from our team and from our portfolio companies. Stay tuned for more news on our investments!

🎉 Catalyst Romania Fund I exits avocatnet.ro, the leading Information as a Service platform dedicated to compliance and regulatory insights in Romania 🎉

Catalyst Romania Fund I announces the sale of its shares in avocatnet.ro (Inteligo Media) back to the Company’s founding team and celebrates a long lasting collaboration with the Company, based on an investment which shaped the remarkable evolution of avocatnet.ro into the most important Information as a Service platform of its kind in Romania, trusted by professionals and entrepreneurs across the country.

This marks Catalyst Romania’s 6th exit, after VectorWatch was sold to FitBit, SmartBill to Visma, 123FormBuilder to Kiteworks, Vola.ro to Resource Partners, Green Horse Games to Miniclip/Tencent.

Initially focused on advertising-based revenues, avocatnet.ro grew steadily, particularly after the investment from Catalyst Romania Fund I, into a comprehensive digital resource, delivering daily insights and in-depth analyses of legislative and tax developments based on a subscription model, proving that the Romanian businesses have caught up with their Western European counterparts and understand the value of the Information as a Service business model proposed by the Company. Over the years, the Company has also expanded its educational mission by offering online courses, workshops, and practical guidance—assisting everyone from freelance professionals to established businesses not only in navigating recently introduced regulations, such as GDPR, e-Factura or SAF-T, but also in managing the intricacies of Romania’s broader legislative landscape. Operating under the Inteligo Media umbrella, avocatnet.ro has emerged as an authoritative voice for Romanian professionals seeking clarity in a rapidly changing regulatory landscape.

“Our collaboration with avocatnet.ro demonstrates the fact that constructive dialogue and genuine partnership can foster a company’s growth and development. We’ve had the privilege of working alongside talented founders who consistently pushed for innovation, user-centric solutions, and high-quality educational offerings. We’re delighted to see avocatnet.ro now recognized as one of the country’s most trusted portals, a leading hub for legislative and tax-related knowledge and we are certain the team will keep raising the bar, but for Catalyst Romania Fund I it is time for the exit, given the vintage of our initial VC fund, the first VC Fund for Romania, launched based on the JEREMIE initiative a dozen years ago” said Marius Ghenea, Managing Partner Catalyst Romania.

“We would like to thank Marius Ghenea and Alina Georgescu from Catalyst Romania for all these years of collaboration. We highly recommend them to anyone who believes they are developing something extraordinary and needs a partner to help take their business to the next level. For us, working with Catalyst has been a crucial step in our company’s growth. Without a doubt, avocatnet.ro would not be what it is today—one of the largest business publications in Romania and a SuperBrands award winner in the last two consecutive editions of the program—without the journey we have taken alongside Catalyst. We would also like to thank Mihai Sfințescu for initiating our collaboration” said Alin Popescu, Founder & CEO avocatnet.ro.

🎉 We would like to welcome Lorena, as the new Business Analyst in the Catalyst Romania Team 🎉

In March, we were excited to welcome Lorena Scheusan in the Catalyst Romania team, who is sure to bring added value through her international perspective and strong financial background!

Lorena joins Catalyst Romania as a Business Analyst, supporting the team in identifying investment opportunities and managing the investment process. Her experience with working and studying abroad makes her adaptable to new business contexts and working with multi-cultural teams.

Having started her professional journey in the Transaction Services team at Deloitte in Bucharest, she then went on to join the biggest Swiss bank. While at UBS, Lorena played a pivotal role in shaping the bank’s thematic funds by meticulously analyzing competitive funds and market dynamics in sectors such as renewables, digital infrastructure, eco-transport and more.

Lorena holds a Bachelor’s Degree in Global Business Administration awarded by EDHEC Business School (France) and partner universities Nanyang Technological University (Singapore) and UCLA Extension (United States). In her free time, she enjoys traveling, writing and playing jazz piano arrangements.

Favorite quote: “Judge a man by his questions rather than by his answers” Voltaire

Latest Book Read: How to Tell a Story – from The Moth, by Meg Bowles, Catherine Burns, Jenifer Hixson, Sarah Austin Jenness and Kate Tellers

🕊️ Celebrating the 7th Edition of the Women in Economy Gala 🕊️

The Romanian Athenaeum provided the perfect setting in early March for the seventh edition of the ”Women in Economy” Gala 2025 organized by CONAF. It was an evening dedicated to celebrating female excellence, innovation, and resilience in the business world.

Hosted by Virgil Ianțu and Lili Sandu, the Gala brought together government representatives, top management executives, entrepreneurs active in various industries and featured keynote speeches from remarkable women among which were Kathleen Kavalec, the USA ambassador to Romania, Mrs. Ulla Krauss-Nussbaumer, the Austrian ambassador to Romania, Mrs. Anna Riatti the UNICEF Representative in Romania and messages delivered by Roberta Metsola, the President of the European Parliament and also the message from the Interimary President of Romania, Mr. Ilie Bolojan. The night continued with award presentations and very special moments! This year’s edition stood out not only through its prestigious setting but also through the depth and relevance of its message: the role of women is crucial in shaping a sustainable and inclusive economic future.

Throughout the event, many distinguished women were honored for their significant contributions to various industries, embodying the Gala’s theme, “Empowered to Act, Inspired to Succeed.” These awards recognized individuals who have transformed industries, created opportunities, and redefined standards of excellence. It was a joy to see among the awarded women exceptional professionals from the VC and PE industry like Simona Gemeneanu or Elisabeta Moraru, Country Director at Google Romania, awarded for her outstanding contribution to advancing digital transformation in Romania.

Another highlight of the evening was the launch of the Women in Economy magazine, which also includes an article written by Marius Ghenea showcasing the efforts of Catalyst Romania to support the entrepreneurial ecosystem, to promote gender equality, youth entrepreneurship, and cross-sector collaboration through its activity but also by taking part and organizing events like the Romanian Venture Forum. These have an important role in connecting innovative startups with investors, institutions, and strategic partners from across Central and Eastern Europe. The online version of the magazine can be found here!

Events like the Women in Economy Gala not only honor the accomplishments of today’s leaders but also inspire future generations to pursue excellence, innovation, and resilience in their endeavors. At Catalyst, we’re a small but dynamic team with strong female representation — something we’re proud of and truly inspired by every day. We’re always happy to take part in initiatives, which support female entrepreneurship and innovation — values we deeply believe in and actively promote through our work.

🤖 Scaling with Smart Automation: How Flip Uses Adapta’s Technology for Inventory Management 🤖

Inventory management is often one of the first areas to feel the pressure when a company starts to scale fast. That’s why we’re excited to share how Adapta Robotics, through its AI-powered solution SIDD, is helping companies like Flip.ro bring structure, speed, and real-time visibility to their operations.

As Flip scaled rapidly, its inventory operations became increasingly complex—relying on time-consuming, manual processes that limited visibility, slowed down workflows, and left room for errors. Flip needed a system that could keep up with their growth, deliver real-time tracking, and streamline their entire inventory flow.

That’s where Adapta stepped in! Working closely with Flip, the Adapta team developed and deployed a customized SIDD solution—an intelligent shelving system equipped with cameras that automatically detect, scan, and monitor thousands of devices in real time. Over several months of collaboration, SIDD was integrated seamlessly into Flip’s operations, replacing manual scanning with precise, automated workflows.

The impact was immediate:

Time spent on inventory tracking dropped by over 60%
Manual scanning was reduced by 150 minutes per employee per day
Flip increased its automatic tracking to 1,200 unique devices per day

More than just a product, SIDD reflects Adapta’s ability to understand operational bottlenecks and translate them into flexible, scalable, and user-friendly tech. The Adapta team continues to demonstrate how robotics and automation can be designed not just for innovation—but for immediate, measurable business value.

👉 The full article can be found here 👈

⛹️ The second edition of the ESX Fitness Trainers Awards (EFTA) is here! ⛹️

Our portfolio company, ESX, has taken on the mission of promoting a healthy and active lifestyle for as many Romanians as possible, by making fitness more accessible and supporting those who dedicate their lives to helping others become the best version of themselves. Last year, as part of this mission, they launched the first edition of the EFTA competition – a unique contest dedicated to recognizing and celebrating the most outstanding personal trainers and fitness professionals in Romania.

The first edition of EFTA was a true success, generating a wave of enthusiasm on social media, with countless posts and stories throughout the competition. But beyond the awards and applause, the real win is for the growing number of Romanians who aspire to live healthier lives. Thanks to the Personal Trainer Network (PTN), a solution launched by ESX and described as an “Uber-like” platform for connecting personal trainers with clients, people across the country can now easily find and work with top fitness professionals, wherever they are.

This year, the EFTA competition returns with over 100 contestants. If you want to see more details about last year’s edition, follow this link!

📈Expanding Footprints AI‘s Reach: A New Partnership with Danubius Exim 📈

One of our latest investments, Footprints.AI, announced the extension of their retail media technology in Romania through an innovative partnership with Danubius Exim, a leader in fiscal solutions with over 30 years of expertise.

By integrating Footprints AI’s platform into BlueCash 50—the country’s first all-in-one fiscal and commercial device—they are empowering merchants of all sizes to transform every card transaction into a revenue-generating advertising channel, with no additional investment required.

Footprints AI revolutionizes retail by unlocking a powerful new revenue stream that was once exclusive to large retail chains, making it accessible to retailers of all sizes. It empowers businesses with trust and control by keeping data securely on-premise, ensuring privacy, compliance, and a transparent partnership aligned with each retailer’s goals and values. Best of all, the AI-powered solution integrates seamlessly into existing infrastructure, requiring no additional overhead or costly investments—maximizing efficiency and return on investment from day one.

Stay tuned for more updates as Footprints AI continues to drive innovation in retail media with cutting-edge AI solutions!

⚡ Piano, a 3TS portfolio company, secures $120 million financing ⚡

Piano, a global leader in subscription, audience engagement, and content monetization solutions — and a portfolio company of 3TS Capital Partners, the sister fund of Catalyst Romania — has raised $120 million in financing, with Runway Growth Capital leading a $75 million loan facility.

The additional capital will be used to advance product development, enhance customer acquisition efforts, and strengthen Piano’s market presence. By providing robust solutions for digital content monetization, Piano helps organizations convert visitors into paying subscribers, driving revenue through enhanced user experiences.

With this strategic financing, Piano is well-positioned to accelerate its product innovation and scale its operations, meeting the growing demand for subscription and content monetization services in an increasingly digital world. The backing from Runway Growth Capital ensures that Piano has the resources to strengthen its leadership in the digital content ecosystem.

The investment underscores the strong market confidence in Piano’s vision and technology, and reinforces the value created by the 3TS and Catalyst Romania network in backing fast-scaling, transformative tech companies.

🗣️ Marius Ghenea and Dragos Popescu talk about efficiency in the business industry 🗣️

Marius Ghenea, Managing Partner at Catalyst Romania, and Dragos Popescu, Managing Partner at Diagma, recently teamed up for a podcast session hosted at Termene’s studio, aiming to explore efficiency in the business environment and address the most pressing questions entrepreneurs often encounter. Utilizing their extensive experience accumulated over many years and across multiple companies, they offered valuable insights and practical advice to help entrepreneurs successfully navigate complex business challenges.

During their conversation, Marius and Dragos shared personal stories, details about the obstacles they encountered and lessons learned, emphasizing strategies related to planning and executing successful business exits. They also discussed best practices for maintaining high levels of employee efficiency and satisfaction, highlighting key dos and don’ts that can significantly impact organizational productivity and morale. Their advice provided a comprehensive guide for entrepreneurs striving to create a balanced, motivated, and effective workplace.

💸 Exploring Secondary Investments on Seedblink: Lower Ticket Size, Bigger Opportunities 💸

Secondary investments represent a growing opportunity for investors seeking to diversify their portfolios. Unlike primary investments, where capital goes directly to the company, secondary investments involve purchasing shares from existing shareholders—allowing access to high-growth companies that have already demonstrated significant market traction.

We are proud to support SeedBlink, a Catalyst portfolio company, in their mission to make these opportunities more accessible. Through their dedicated Secondary platform, SeedBlink is opening the door for a wider range of investors to participate in leading tech companies across sectors such as AI, mobility, gaming, and healthcare. By lowering the minimum ticket size, SeedBlink enables smaller investors to engage in transactions that were once reserved for institutional players.

This initiative not only democratizes access to late-stage startup investments but also reinforces SeedBlink’s role as a trailblazer in European tech investing.