Bluesquare, Belgian technology startup secures new capital investment from SI2 Fund
Brussels, Belgium — 30 May 2016: Bluesquare, an innovative Belgian technology firm, has finalized a new round of capital investment exceeding 550,000 Euro. The Belgian social investment fund, SI2 Fund was a lead investor. Building digital solutions for governments and their development partners in emerging markets, BlueSquare delivers data systems for smart financing and results management.
Bluesquare believes that smarter data systems are critical to empowering the delivery of essential public services and helping to improve people’s lives. Driven by a desire to improve health, education and governance systems around the world, the company works to boost the reach, quality and effectiveness of aid programs and public systems through greater transparency, accountability and stewardship.
Nicolas de Borman, Founder and CEO of Bluesquare, shared his enthusiasm by saying: “We are thrilled to embark on this next step as a growing data company. Working in partnership with the SI2 Fund is a tremendous opportunity, opening doors and giving us access to the valuable Oksigen network. Moreover, this acceleration funding and partnership demonstrates that we are on the right track for sustainable growth. This is an exciting opportunity for us to start breaking new barriers and exploring new ways to improve our services. We’re ready to increase the reach of our services, starting with the health and education sectors!”
SI2 Fund is an impact investment fund with the mission of generating high social impact and a fair financial return through sustainable investments in social enterprises. They have agreed to invest the main part of this round. The remaining capital comes from Talence, a patrimonial investment fund.
Piet Colruyt, Chairman of SI2 Fund: “We are very pleased to support the Brussels based BlueSquare in its valuable work and to enable them with both funding and our networks to expand their services. With BlueSquare, we help international organizations, like the World Bank, foundations and NGOs to increase their impact on the lives of people in low and mid-income countries like the DRC, Haiti and Kyrgyzstan. It is nice to see that our Oksigen ecosystem works: BlueSquare was coached one year ago by OksigenLab to integrate their financial and social ambitions and was able to find aligned funding with SI² Fund.”
The 550,000 Euro capital investment will support Bluesquare’s growth plan for the next 2 years.
Bluesquare technologies promote smarter allocation of resources — so they get to where it matters most. BlueSquare systems and tools boost the reach, quality and efficiency of public services around the world and give users access to key performance data. They allow users to easily collect, manage, structure, visualize and share data. And create a link between financing and results, by transforming traditional aid into data-driven systems — encouraging better stewardship, accountability and transparency of programs. BlueSquare creates value from data and helps people make better decisions.
Working with governments, NGOs and donors, Bluesquare’s products currently impact over 30 million people in more than 15 countries worldwide. Follow us @BlueSquare_org.
SI² Fund is a social impact investment fund with a mission to generate high societal impact and fair financial return through direct investments in social enterprises. Societal challenges are legion. SI² Fund was created to finance the early stage and growth of innovative social enterprises applying entrepreneurial concepts to pursue clear societal missions. SI² Fund is an active investor, partnering with social entrepreneurs to scale their ventures.
SI² Fund is part of the Oksigen ecosystem, a broad offering dedicated to social innovation and social entrepreneurship. Oksigen is currently composed of three pillars; besides SI² Fund, it also comprises an incubator for social entrepreneurs (oksigenlab.eu) and a shared values consultancy (i-propeller.com).
For further information, please contact:
Communications Manager, Bluesquare
+32 3 737 65 16