Balkan Business Brief

The story about startup Finspot and its mission to help small businesses grow and thrive

The idea of? Finspot ?was created in Serbia in 2018, by? Jovan Milovanovic ,?who was working in a bank in the field of software product analysis and implementation, and? Miljan Gudelj , who ran a family trading company. The combination of their different backgrounds in the banking sector and small businesses revealed an identical problem: the lack of capital for micro, small, and medium-sized enterprises. The first step in realizing their idea was to create software for factoring, which would simplify the process of applying for and approving credit requests for these types of companies.? Ognjen Kurtic ?soon joined the team, and with a combination of knowledge and skills, they successfully created the first fully online factoring platform on the market. With the entry of new partners and sufficient capital in January 2021, they began financing their first invoice.

Finspot is the core of its business which addresses a clear and ubiquitous problem - the lack of working capital for micro, small, and medium-sized enterprises. It offers an alternative to traditional financing sources, emphasizing speed and flexibility. The solution is factoring, where Finspot finances a company's outstanding claims by paying money in advance for an invoice issued on deferred payment to another legal entity or entrepreneur. This means that funds are immediately available, and waiting for payment from the customer is no longer necessary. Factoring is a unique form of financing for young, developing companies, enabling them to achieve stronger business growth, efficiency, and better customer relationships. The entire application, approval, and transaction monitoring process takes place through Finspot's platform, which features technology that allows financing to take place in less than 24 hours for new clients. To achieve the goal of financing small businesses, Finspot continuously searches for an increase in its own capital.?

The Finspot team has achieved commendable results, including participation in the Blok.Is accelerator at the EU level, where they were among the ten winners, and selection as participants in the EBRD's Star Venture program in 2021. However, the team's success is best evidenced by the figures they have achieved, having financed over 120 clients throughout Serbia, processed over €12 million in transactions, and collected over €800,000 from more than 150 investors.

Empowering Healthcare Innovators: Join the Get Started in Health Innovation 2023 program

Exciting news for healthcare innovators! The Get Started in Health Innovation 2023 accelerator program has just opened its doors in Croatia. This six-month program, now in its second year, is a collaborative effort between EIT Health HUB Croatia and Lean Startup Croatia, designed to foster innovation and provide a platform for aspiring entrepreneurs to bring their ideas to life. The program is open to individuals or startups in the early stages of development, students, researchers, healthcare professionals, and entrepreneurs who are passionate about making a positive impact in the healthcare industry. Through an interdisciplinary approach that leverages the resources of top universities, industry partnerships, and a global network, the program offers a unique opportunity for healthcare innovators to develop their ideas, gain business skills, and access critical funding. Participants will have access to a wealth of expertise and support, including entrepreneurs, scientists, and mentors who will guide them through the process of shaping their ideas into successful business opportunities. With the help of investors and partners, startups will have the chance to refine their ideas, and present their innovations at the end of the program.?

From Belgrade to the World: Air Serbia's Impressive Growth and Expansion

Air Serbia is soaring to new heights with its impressive expansion plans and commitment to delivering exceptional service. The airline has hired more than 120 new crew members and will be adding more planes to its fleet, proudly emblazoned with the iconic Air Serbia logo. With increased demand for connecting cities in Serbia with other destinations during the summer season, the airline is determined to offer top-notch services at full capacity. These additional aircraft signify a long-term investment in the growth and development of the company, strengthening its position in the avio industry.

Air Serbia has already introduced two new destinations, Tel Aviv and Ankara, and is set to launch flights to Catania, Lisbon, and Izmir this week. This is just the beginning, as the airline plans to introduce a further 16 new destinations in the coming months, providing passengers with a fantastic opportunity to explore the beautiful Balkan region and all it has to offer. But it's not just leisure travellers who will benefit from Air Serbia's expansion; the region is rich in business opportunities too, making it an ideal destination for entrepreneurs and investors. With its commitment to improving all aspects of its operations, Air Serbia is a shining example of a company that is dedicated to achieving its goals and providing exceptional service to its customers. So why not book a flight with Air Serbia today and experience the best that the Balkans have to offer?