Skopje, Macedonia (April 2018) — SEAF announces that the SEAF Macedonia II Fund has completed an investment in Geonet, a GPS solutions provider based in Skopje, Macedonia. Geonet is engaged in the implementation of advanced GPS solutions, and plans to further expand its business by remaining the leading GPS solution provider in the Macedonian market, with strong aspirations for expansion on the markets in Northern Greece, Kenya and the US. Recently, Geonet developed a ride-hailing platform named “Go Taxi”, to be offered to the taxi companies in Macedonia and abroad, as a tool for modernizing the traditional taxi service, allowing it to compete with Uber-like services.
Geonet is the third portfolio company of the SEAF Macedonia II Fund, and one of two remaining holdings. The Fund is led by Dejan Kalinikov.
Geonet was founded by Mr. Tode Bucevski in 2004 as the first company in Macedonia engaged in the implementation of advanced GPS solutions allowing vehicles tracking, monitoring, improved security, and route planning in a simple, yet sophisticated way. Continuously growing in the area of its core competencies, Geonet now represents the leading GPS fleet management service provider in Macedonia. www.gps.mk
SEAF is a global impact private equity manager achieving meaningful and measurable developmental impact results and positive financial returns by providing entrepreneurs in emerging markets with the capital, knowledge, and networks they need to grow their businesses. Since 1989, SEAF has invested in more than 380 companies in 27 countries. For more about SEAF, see www.seaf.com.
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