TenderHut, the technological capital group from Bialystok, will end another year with an astonishing result. The data for the first three months show that the group has increased its income by over 138% compared to the same period during the previous year, achieving a consolidated turnover of 11.45 million zlotys. Dynamic growth, international business contacts, innovative projects and plans to enter the Warsaw Stock Exchange show that this IT company from Bialystok is becoming a leader in the industry, not only locally, but also on a national level.
The company’s achievements were appreciated by the independent ranking: Deloitte Fast 500 EMEA (Europe, Middle East, Africa), in which TenderHut was included as one of the top 25 fastest-growing Polish companies. This year, the company will achieve an estimated income of 17.5 million zlotys. In comparison, the consolidated income for 2015 was 6.44 million, followed by 8.87 million in 2016. The year 2017 was a time of intensive work, and the following year will be no easier – says with a smile Robert Strzelecki – vice-president of the TenderHut group, which consists of 4 subsidiary companies: SoftwareHut, Solution4Labs, LegalHut and ProtectHut.
Entering the Warsaw Stock Exchange
In 2017, TenderHut acquired a grant of 730 thousand zlotys for preparing the company to enter the Warsaw Stock Exchange. The co-financing was obtained from 4 Stock – Support for small and medium enterprises in entering the equity market, implemented by the Polish Agency for Enterprise Development. Entering the Stock Exchange is one of our strategic projects for the coming years. We plan to obtain 20 million zlotys through the Initial Public Offering and surpass the the required capitalization amount of 65 million. We plan to make our debut on the Stock Exchange in the first quarter of 2019 – says Robert Strzelecki. With the acquired capital, TenderHut plans to take over other local IT companies from local markets in Bialystok and Olsztyn. External funding will allow the company to implement other ambitious projects. The main goals of the company are to expand onto foreign markets, develop innovative products and improve research and development infrastructure.
New offices and expansion
For TenderHut, the year 2017 was a period of intensive growth, also with regard to organizational issues. Consolidation of the IT market, that is, the takeover of two companies: QBurst Poland and LIT, and opening an office in Olsztyn, are just a few events that demonstrate the group's growth potential. New contacts and clients from different parts of the world resulted in the opening of 5 foreign offices in Europe and the USA. Besides previous offices in Copenhagen and Stockholm, the company established departments in London, Zurich, Berlin, Dublin and New York in 2017
The company’s objectives and business practices indicate that TenderHut is mainly implementing projects abroad. Innovative applications in the field of e-banking implemented in Latin America as well as cooperation with Microsoft in improving AR technology (augmented reality) are some of the projects that are being developed by the company’s engineers. Besides performing projects for foreign customers, TenderHut also develops its own products, which are successfully being commercialized. One of them is Zonifero, a Digital Office Management application introduced into the market in 2017, which may revolutionize everyday work for thousands of offices in Poland and abroad. It was originally intended for our own purposes, but we were soon able to commercialize it. The app was implemented for several of our foreign clients. In Poland, on the other hand, Zonifero is implemented at large international corporations and public institutions. Negotiations with public universities and entities who organize music festivals and trade fairs, where space optimization is needed, are in progress – explains Strzelecki
Plans for the future
For the entire TenderHut capital group, the coming year of 2018 will be a period of intensive growth. Three years ago, when we started the TenderHut project without financial assets or clients, everybody told us that we were biting off more than we can chew. After 3 years on the market, we are entering the new year with a portfolio of valuable projects. The largest one is the contract acquired for implementing a LIMS class system for PKN Orlen – says Robert Strzelecki. Preparations for entering the Warsaw Stock Exchange, interesting projects for foreign partners and the progressing consolidation of local IT markets are challenges within the area of interest of TenderHut’s Board of Directors in 2018.