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HeleCloud is well positioned and manages potential market risks despite Brexit

October 22, 2018

 

HeleCloud is well positioned and manages possible market risks despite Brexit, comments Dobromir Todorov, CEO at HeleCloud, in the TV show ‘V razvitie’, Bloomberg Bulgaria, with Veronika Denizova.

“I would say that we have a partnership with BGF (Business Growth Fund) and I would avoid the verb “attract” an investment”, added Dobromir Todorov. “The partnership is valuable for both sides – BGF and HeleCloud. HeleCloud is a successful organization, even though a young one. Although we are a start-up, the company has been generating profit for the last 12 months. The profit is being reinvested in the company. This investment was important for us to support HeleCloud’s growth and to achieve the ambitious goals for the current and following year. We have had conversations with different investment organizations. We were looking for a partner with a positive market reputation and recognizable investments – a partner that is able to meet the deal requirements. BGF has met them and the Board of Directors of HeleCloud has closed the deal. We see BGF as our partner”, he states.

“We are a young organization with progressive goals. We see two approaches in order to achieve them. One of them is rather limited – namely reinvestment, the other approach is to use our partner BGF’s investments. We focus on 3 main areas. The first is the acceleration itself – the growth will become 3 times faster. The second important aspect of the investment is related to our clients and the projects we work on to be successful. It is important to develop our employees’ knowledge, skills as well as the technology they use. We plan to build new services and a portfolio. Machine learning, artificial intelligence and IoT are the hot topics for our clients today. Thirdly, we are located in Bulgaria and the U.K but actually, we operate on the global market - Scandinavian countries, Middle East, Western Europe and the United States. We operate our clients’ service from HeleCloud’s two offices. The cloud services market is global and we expect to expand our presence in the emerging European markets”.

HeleCloud team in Sofia is mainly engaged in high-tech activities, explains HeleCloud's CEO. “Our team of talents is very competent and focuses on the engineering activities and cloud technologies. The U.K team is responsible for the system and cloud architecture at a conceptual level”, he adds. 

“Brexit is not yet a fact, and I rely on the rational approach of the EU and the U.K”, Dobromir Todorov discloses. “There are several options but certainly no-deal would be devastating for the EU economy. One of them is similar to the Norwegian or Swiss model. The Canadian model is also possible with a lot of additional agreements. Nevertheless, HeleCloud is well positioned and we are prepared to manage the potential market risks”, Dobromir Todorov sums up. 

 

Source: Bloomberg Bulgaria

Follow the link and watch the Dobromir Todorov’s interview: 
https://www.bloombergtv.bg/v-razvitie/2018-10-17/helecloud-e-dobre-pozitsionirana-i-balansira-eventualen-pazaren-risk-vapreki-brekzit

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