Vaclav Muchna, CEO
4 min read
- EIB provides €30 million in venture debt to Czech software producer Y Soft
- Financing is for the development and deployment of the company’s advanced cloud-based office solutions and automation tools.
- Support backed by InvestEU program.
Prague, Czech Republic --- November 7, 2024, The European Investment Bank (EIB) is offering Y Soft Corporation, a multinational software and electronic hardware company based in the Czech Republic, financing of €30 million (757 million Kč) to advance a range of office-management technologies including robotics and sensors.
The EIB support takes the form of venture debt for Y Soft to accelerate the development and deployment of cloud-based office solutions (SAFEQ) and a family of automation tools (AIVA) that feature robotics, cameras, sensors, and software working in tandem. This type of financing combines debt and equity, offering flexibility to recipients and sharing risks and rewards between investors and companies.
The financing will support Y Soft's research and development activities primarily in the Czech city of Brno over the next three years. The EIB support, which represents half the company’s project cost of €60 million, is made possible through the InvestEU program to mobilize additional investment for European policy priorities over the 2021-2027 period.
“We are proud to support Y Soft in their pioneering work to advance digital and automation technologies,” said EIB Vice-President Kyriacos Kakouris.
“This financing not only reinforces our commitment to fostering innovation and economic resilience within the EU but also promotes regional growth in the Czech Republic. Y Soft’s project exemplifies how cutting-edge solutions can drive both productivity and sustainability, aligning with our mission to accelerate Europe’s digital transformation and support dynamic enterprises with global reach.”
Founded in 2000 in Brno, Y Soft develops enterprise software for print and scan management both on-premises and in the cloud. The company’s products are used in over 190 countries around the world and help businesses remove print servers, enhance security, and automate document-related workflows in the cloud.
“Y Soft’s collaboration with the European Investment Bank (EIB) underlines the Group’s long-term dedication and commitment to providing world-class Digital Automation and Cloud Office Solutions on a global scale. EIB funding complements the Group’s substantial internal investments, leveraging and bolstering its ambitious growth strategy and accelerating and expediting its execution timeline.
The EIB partnership further reinforces Y Soft’s commitment to creating, maintaining and enhancing economic value within the Czech Republic and the European Union while solidifying its status as a global market leader,” said Y Soft Group CFO & Vice Chairman John Collins.
The AIVA suite is a comprehensive set of tools designed to automate testing tasks and enable continuous integration in the hardware world. The robotics, cameras, sensors, and software work together seamlessly to automate quality control, testing, and configuration. The suite is expected to revolutionize business practices by reducing manual intervention and increasing operational accuracy.
The EIB support aligns with the European Union’s goals of fostering innovation, digital transformation, and economic cohesion. By supporting companies such as Y Soft, the EIB and InvestEU are helping drive technological advancements that are crucial for the EU’s competitive edge in the global market. The funding not only supports the development of cutting-edge technologies but also contributes to the broader objectives of sustainable growth and job creation in the EU.
The InvestEU backing for the Y Soft financing falls under the “Future Technologies" main policy priority area (“Future Tech”), supporting deep-tech investments and future technologies in the EU. The EU support for Y Soft is expected to have a signaling and crowding-in effect on other equity and debt providers.
Background information
About InvestEU
The InvestEU program provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilize private investments for the European Union’s policy priorities, such as the European Green Deal and the digital transition.
The InvestEU program brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient, and more flexible.
The program consists of three components: the InvestEU Fund, the InvestEU Advisory Hub, and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity, and thus mobilize at least €372 billion in additional investment.
About EIB
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals. The EIB supports projects that make a significant impact on economic growth, innovation, and job creation. It is also one of the largest providers of climate finance, supporting projects that contribute to environmental sustainability and the fight against climate change.
About Venture Debt
The European Investment Bank (EIB) is intensifying its support for the next generation of European tech leaders through targeted venture debt and scale-up financing. By offering a long-term structure and patient capital, EIB’s Venture Debt enables companies to accelerate research, make strategic investments, and expand their market reach.
This initiative focuses on late-growth and scale-up stage innovative companies in strategic sectors that contribute to Europe’s technological leadership, such as life sciences, space, artificial intelligence, robotics, security and defense, and quantum computing. To qualify, startups must demonstrate, among others, the strength of their business plans and pass a rigorous due diligence process.
About Y Soft
Y Soft provides smart office solutions for modern workplaces through their suite of products including SAFEQ® (on-prem and cloud office solutions), AIVA (test automation), CLERBO® (digital employee experience), and their in-house manufactured Hardware (including card readers and OMNI Bridge®).
With customers in more than 190 countries, Y Soft is on a mission to build better ways of working by simplifying and automating everyday work for companies of all sizes. In 2022, Y Soft acquired the leading Danish cloud printing SaaS company, EveryonePrint. That same year, Y Soft was awarded the title of "Best MPS Innovation" in November 2022 by the globally recognized MPSA Association.
Y Soft was founded in 2000. The company is based in Brno, and its worldwide network of branches covers North and Latin America, Europe, the Middle East and Africa, and the Asia-Pacific region, including Australia. More information can be found at www.ysoft.com.
Additional coverage:
Press contacts:
EIB
Katarina Karmazinova, k.karmazinova@ext.eib.org, tel.: +420 730 156 873
Website: www.eib.org/press — Media Office +352 4379 21000, press@eib.org
Y SOFT CORPORATION, A.S.
Audrey Agahan, VP of Marketing, audrey.agahan@ysoft.com
