Enterprise Investors invests €3m in Smartree
Polish private equity investor Enterprise Investors has invested €3m of expansion capital in Romanian human resources outsourcing company Smartree.
The deal marks the first Romanian investment from the investor's fund, Enterprise Venture Fund I.
The company processes over 30,000 employees monthly, using internally developed software, and generated revenues of €3.5 million in 2009. Smartree's services include payroll and personnel administration, serving 100 global and local companies.
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