Portugal Ventures invests €1.7 Million in the internationalisation of two businesses - Portugal Ventures
Summary
Lisbon, 21 June 2023 Portugal Ventures, a venture capital firm that is part of Portuguese promotional bank Grupo Banco Portugu\xeas de Fomento, is pleased to announce its investment in two companies MyCareForce and De Risk International, in the total amount of 1.7 million, to help them take their businesses global.Teresa Fi\xfaza, Vice President of Portugal Ventures, says we are very proud to announce the addition of MyCareForce and De Risk International to our portfolio, the first two investments that set an example in the need for a clear response to a market failure investing in/financing companies looking to expand to new markets and/or establish their business and enter the European market from Portugal. MyCareForce and De Risk International will work very closely with our team to continue to create the conditions to enhance the value and profitability of their business across borders.MyCareForce, led by Pedro Cruz Morais and Jo\xe3o Hugo Silva, is a platform that connects healthcare professionals to available shifts, optimising the recruitment process from sourcing to payment. Traditional hiring methods are no longer adequate and so MyCareforce has designed a solution to solve this problem. Shilling, Demium and Humberto Ayres Pereira, an angel investor and part of the Accel Starter programme co-invested in the operation.De Risk International, a South African-originated company led by lawyer Marc Johnstone, specialises in rewards risk coverage solutions and platforms within the consumer marketing, promotion and loyalty programmes industry, delivering effective programmes and campaigns tailored to the requirements of each client. Headquartered out of Portugal, with business development offices in South Africa, the Netherlands and Argentina, and representing some of the worlds biggest brands, De Risk International enables a global marketing solution for its clients.To address the market failure identified, in March Portugal Ventures launched the first edition of Call Expand, aimed at investing in innovative projects developed by tech companies in the expansion phase.