Calin Fusu takes over 20 percent of Clever Taxi phone app

Newsroom 21/05/2014 | 13:09

Clever Tech, a company started in 2011 by two Politehnica graduates, recently received financing from Calin Fusu, one of the most well-known IT entrepreneurs in the country. The company’s main asset is the Clever Taxi phone app that has been used to place five million cab orders since its launch, writes zf.ro.

“It is an investments that evaluates the company at a 7 figure sum, in EUR”, according to Mihai Rotaru, CEO an co-founder for Clever Tech.

Given that Calin Fusu acquired a share package of 20 percent of the company, the investments is more than likely worth a couple of hundred thousand euros.

“It is an investment that allows us to expand, not survive. We have been achieving break-even results for a while now” Rotaru mentioned.

The investment shows that the smartphone market has exploded in Romania.

“The potential is enormous for Clever Taxi, to control everything related to taxi orders through their app. The results will depend on the management”, Calin Fusu said.