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    Reference: 20200202
    Release date: 23 November 2020

    Promoter – Financial Intermediary

    BINARY SUBJECT SA

    Location

    Description

    Bizay is a Portuguese company that has developed a tech-based B2B marketplace for customised product, leveraging on the idle capacity of its production partners.

    Objectives

    The proposed EIB venture debt financing will help the Promoter develop further software modules for its marketplace platform including through the further development and deployment of artificial intelligence technologies already in use by the company in some key business areas. The EIB financing would also aim to support the Promoter's growth strategy and geographical diversification.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 20 million

    Total cost (Approximate amount)

    EUR 41 million

    Environmental aspects

    The project activities do not fall under the annexes of the EIA Directive 2014/52/EU amending Directive 2011/92/EU, and are therefore not subject to mandatory environmental impact assessments. The activities included in the scope of the project will be performed in existing buildings and are not expected to have any relevant environmental impact.

    Procurement

    The project Promoter has been assessed by the EIB as being a private company not operating in the utilities sector and not having a status of a contracting entity, and is thus not subject to EU rules on public procurement.

    Status

    Signed - 30/10/2020

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Portugal Services