Romanian investment fund Neogen backs RacketPal app

Romanian investment fund Neogen backs RacketPal app
By bne IntelliNews March 17, 2021

Romanian investment fund Neogen Capital will invest €450,000 in the RacketPal application, a startup founded in London by two Romanians, Wall-Street.ro reported.

The app helps tennis, badminton, squash, ping pong and paddle enthusiasts find the right game partners. The startup will allocate the funds mainly to develop the application and increase the operational team.

It targets 100,000 registered users on the platform by the end of this year.

Launched in 2019, the RacketPal app already has over 10,000 users on the Android and iOS platforms, the daily average of active users being 300.

"When we moved to London, we found that it was difficult to find a sports partner nearby with whom to be compatible in terms of the level of play. We talked to hundreds of other passionate players and found that they also had this problem, which confirmed the need for such a solution to help people meet to play their favourite sport," said Robert Rizea, CEO and co-founder of RacketPal, who played performance tennis before settling in London in 2016.

So far, the founders Robert Rizea and Bogdan Demeny have invested over €230,000 in developing the RacketPal platform.

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

EU, Uzbekistan forge partnership aiming to pave way for critical raw material supplies

The European Union on April 5 signed a memorandum of understanding (MoU) with Uzbekistan ... more

Brand Finance releases ranking of Uzbekistan's Top 20 most valuable brands

London-headquartered brand valuation consultancy Brand Finance has released its latest list of the 20 most valuable domestic brands in Uzbekistan. Leading the pack is Uztelecom, with a brand ... more

Kazakhstan and Uzbekistan’s combined IT exports surpass $800mn

Kazakhstan and Uzbekistan’s combined IT exports surpassed $800mn in 2023. The Kazakh IT sector's export revenue jumped from $50mn in 2020 to over $500mn last year. Astana Hub was a major ... more

Follow Us On

Most Read

  1. Iran vs Israel: Who is better equipped for war?
    6 days ago
  2. Saudi Arabia to scale back plans for Neom city
    9 days ago
  3. BREAKING: Iraq, Syria and Jordan close airspace amid Iranian strike on Israel
    6 days ago
  4. Oil continues to flow to Israel via Turkey despite Erdogan’s vehement speeches on plight of Gaza
    5 months ago
  5. PANNIER: Caspian military drills that exclude Russia and Iran have some people in Moscow asking questions
    7 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    20 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    24 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. UBN: Russia could take the Baltic states in 48 hours
    29 days ago
  5. BRICS announce a blockchain-based payment system to create a common currency
    22 days ago

Reports

Dismiss