Investment & Fund Management
the first private equity and venture capital
Full Credential Description
Florin Cornianu and Tudor Bastea, the founders of 123FormBuilder, transitioned from engineering roles in multinational companies to focus on developing a software tool that allows users to create online forms without needing technical expertise. Initially named 123ContactForm, the company recognized the potential of their product for small businesses, service providers, and event organizers. As demand grew, they sought investment in mid-2015 to support their expansion and enhance their business capabilities.
They turned to Catalyst Romania, the first private equity and venture capital fund in Romania, which is backed by the European Investment Fund (EIF). The investment primarily funded research and development, marketing, and sales efforts, enabling the company to grow its workforce from approximately 30 to 85 employees. This strategic support was crucial for 123FormBuilder, as Florin noted that without it, their growth and ambition would have been significantly constrained.
As a result of this investment and the subsequent expansion, 123FormBuilder experienced a fourfold increase in revenue, with a substantial portion of its customer base now located internationally, particularly in the United States, which accounts for 60% of their sales. This case exemplifies how targeted investment can facilitate significant growth and market reach for technology-driven businesses in the ICT sector.