Budapest, March 2017

Clipboard01The financial closing of the private placement of convertible debt-instrument of BeChameleon, a start-up disrupting the client acquisition of telecommunication operators, has been executed in February 2017.

BeChameleon’s services benefit both the telecommunication industry’s incumbents and the end-users of mobile phone services provided by the incumbents. The application, developed by the Company, analyzes the pattern of the end-user’s mobile phone activity and offers the cheapest service package fitting best its usage. The application hands over the collected information to contracted operators in order to facilitate the sale of the chosen package. The service has been tested via pilot projects in several countries (e.g. Hungary, Croatia). Additional pilot projects in 10 countries are under preparation with the intention to make successful pilots immediately live.

The start-up has been supported by domestic and foreign private individuals via privately placed convertible debt instrument and are expected to become shareholders of the Company within one year.

The adviser of BeChameleon’s founders was Concorde MB Partners.