TGS Baltic advised KŪB Koinvesticinis fondas on investment into the innovative start-up MOREmins Ltd.

08.02.2019 TGS Baltic advised KŪB Koinvesticinis fondas on investment into the innovative start-up MOREmins Ltd.

Koinvesticinis Fondas and 5 other angel investors have invested €750,000 in the start-up which have already enabled 8 countries to make much cheaper calls to mobile or landline phones of subscribers in other countries.

“Investors’ experience and capital will help us to improve the quality of our services and grow,” said Andrius Butvilas, the CEO and founder of the start-up.

Services of MOREmins, a company seeking innovative solutions, are currently available to residents and businesses in the UK, the US, Ireland, Norway, Sweden, Spain, Germany, and Lithuania. 

TGS Baltic partner Dalia Tamašauskaitė-Žilienė and junior associate Julija Skardžiūtė advised the client on all matters related to the transaction, including preparation of transaction documents and representation in negotiations.

KŪB Koinvesticinis fondas, along with private venture capital funds and groups of business angels, invest into private Lithuanian companies that start a business (start-ups) and develop their business. The fund takes part in the governance of the investees as a silent investor. Its goal is to develop the Lithuanian venture capital market, to foster new participants of the venture capital market and to provide more access to capital for new promising Lithuanian companies, having limited possibilities to tap business financing instruments offered by banks.