14.09.2023 The Capital Investments Fund of BDB joins the management of the innovative company UPASS (URBO Studio)

An innovative software company has attracted the interest of the Capital Investments Fund (CIF) of the Bulgarian Development Bank Group. BDB's subsidiary will invest EUR 1.2 million in the growth and development of UPASS, which has already become the leading technology partner of businesses in the field of tourism, events, leisure and entertainment.

UPASS was established in 2015 and quickly gained popularity on the Bulgarian market with its URBO Studio software. The company offers software solutions for management, sales and control in the creative and leisure sector – events, festivals, attractions, activities, sports clubs and facilities, spas, culture and cinema. It has the potential to consolidate its success in the markets of Central and Eastern Europe and the Middle East.

The software is offered as a SaaS solution that allows business owners to increase their revenue and achieve better visibility and control. Through URBO Studio, they can increase their sales channels and improve the experience of their guests and customers.

With the help of the software, businesses can carry out and coordinate their sales not only through their own offline and online channels, but also in their social media profiles, as well as through the commercial networks and platforms of third-party distributors and suppliers.

The digital solutions of URBO Studio are already successfully used by the more innovative regions in Bulgaria, in particular in the field of tourism, culture and transport. The municipalities of Sofia, Burgas, Stara Zagora, Plovdiv, Gabrovo, Kazanlak, Kardzhali and the Albena and Sunny Beach resorts are among those who have chosen URBO’s technology. The company is a partner of the largest organizers and ticket platforms in the country and abroad. Thanks to its technological solutions, more than 5 million tickets have been sold in the last two seasons for festivals and concerts such as Hills of Rock, Spice Music Festival, Arte Festival, Arctic Monkeys, Iron Maiden, etc.

Through its financial and expert support, the Capital Investments Fund of BDB will support the expansion of the company in Bulgaria and Central and Eastern Europe, the technological development of URBO Studio and the expansion of the UPASS team.

This is the eighth deal in a row for the Fund, which offers growth equity and already has an impressive portfolio of successful companies.