Marian Murgulet, Trencadis: "We are considering listing on the stock exchange, to attract financing"

Trencadis, a technology company specializing in software development solutions for the government and business environment, is considering listing on the stock exchange to attract additional financing to enable its international expansion in the coming years, according to a company statement yesterday.

Marian Murgulet, CEO, Trencadis, said: "When I decided in May 2023 that it was time to take control of the company, I did it not only out of the desire to demonstrate my entrepreneurial skills based on the experience I gained- o, especially to contribute directly to the digital transformation of the state-citizen, state-business environment relationship. I live in Romania and I want all of us, citizens or companies, to have easy access to all public services. The next natural step that we are considering at Trencadis is listing on the Stock Exchange to strengthen the public image of a relevant player on the national, but especially regional, IT&C market, respectively to attract additional financing to allow us to expand regionally/internationally the following years. Obviously, the economic context will tell us when exactly the moment is right. Certainly, the figures with which we will close the year 2023 will make us extremely attractive for the planned listing next year".

In the first nine months of the year, Trencadis had a turnover increasing by 270% compared to the same period in 2022, the company thus surpassing the performance of last year, when it achieved the highest turnover in its history, by 24 .5 million euros, up 21% compared to the previous year.

According to the company's statement, most projects in the IT industry in the public sector are completed in the fourth quarter, and the expectations of Trencadis management are very optimistic for the evolution of turnover at the end of 2023. Trencadis has implemented the integration of some of the largest national projects EDULIB - National Education Platform (AARNIEC in partnership with the Ministry of Education), respectively Big Data Platform - SIIMSAS - Integrated Management System in the Social Health Insurance System for the National Insurance House of health.

As an integrator, Trencadis focuses on complex, national projects, in which it has a mix of hardware infrastructure, software and integrated IT systems. For 2024, the company is considering expansion in Central and Eastern Europe and is considering opening an office in Brussels where Trencadis already has a specialist relocated from September for the business development area, according to the release.

According to Startup Cafe, Marian Murgulet, former IT director of the Government, took over the majority stake in Trencadis from Radu Negulescu (the founder of the Sessions startup), in May of this year.