Wednesday, 6 October 2021

Croatian Company Infinum Opening Office in Podgorica, Investing €3 Million

October the 6th, 2021 - The Croatian company Infinum is set to open an office down in neighbouring Montenegro, more precisely in the capital city of Podgorica, in which it plans to invest a hefty amount.

As Poslovni Dnevnik/Lucija Spiljak writes, the Croatian company Infinum, a leading software design and development enterprise, is opening an office in Podgorica, the Montenegrin capital, where they have already assembled a team of fifteen people. The plan is to increase that number to about 60 people within a couple of years and invest as much as three million euros.

Nikola Kapraljevic, the operating director of Infinum, revealed this to Hina, adding that the company currently employs more than 350 people. This year alone, the company became richer for 70 new employees, and Infinum expects to round that number up to 100 by the end of the year.

Last year, they earned around 100 million kuna, which is 22 percent more than the year before last, and in 2021 they expect a continuation of their growth trend of as much as 25 percent. It's worth noting the fact that a year ago, with Porsche Digital, the Croatian company Infinum founded the Porsche Digital Croatia development centre, and they believe that with their sister company, Productive, joint revenues for this year could reach up to 160 million kuna. At Porsche Digital Croatia, according to Kapraljevic, they're working on products that enhance the experience of Porsche users and that help optimise Porsche's production process.

"We've continued to work with most of our clients, and our teams have the opportunity to work on interesting and innovative solutions in healthcare, education, renewable energy, finance, and even music," said Kapraljevic.

In addition to the latest office in Podgorica, Infinum has offices in Zagreb and Varazdin, neighbouring Slovenia and even across the pond in New York. They announced further expansion elsewhere in Europe such as the British market, brand development in other Western European countries, and continued expansion in the US where they are increasing the number of people on their team in New York.

In an interview with Hina, Kapraljevic revealed that they're currently developing a mobile application (app) for controlling the functionality and monitoring of cars, and a platform through which Porsche can be rented for either short or longer periods of time.

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Sunday, 3 October 2021

IT Company Infinum Plans Growth, Expands Business

ZAGREB, 3 Oct, 2021 - One of Croatia's leading IT companies, Infinum, continues to expand into new markets and is opening an office in Podgorica, expecting a 25% growth this year, Infinum chief operating officer Nikola Kapraljević told Hina.

"2020 was marked by global chaos caused by coronavirus, but despite the difficulties, people found a way forward and technology played a key role, so we also spent much of the year developing new processes, tools and systems. We continued to cooperate with most clients, and our teams have the opportunity to work on interesting and innovative solutions in health care, education, renewable energy, finance, and even music," said Kapraljević.

Revenue growth of over 20% in 2020, 2021

In 2020, he said, they generated about HRK 100 million in revenue, which was 22% more than in 2019, and they expect continued growth in 2021.

"We want Infinum to continue the growth trend with an additional 25%. When we add our two sister companies, Porsche Digital Croatia and Productive, we expect that the joint revenue in 2021 will amount to HRK 150 to 160 million," Kapraljević said.

Stressing that such results and success were achieved because of the employees, he said they currently employed over 350 people, and in 2021 alone more than 70 new employees joined Infinum, which he hopes would increase to 100 by the end of the year.

Kapraljević said that in addition to the offices in Croatia (in Zagreb and Varaždin), Slovenia and New York, they have a good team in Montenegro with 15 people, and they are currently working on designing a bigger office in Podgorica, since they see great potential in that market.

In addition to Montenegro, they are actively working on developing the brand in Western Europe and expanding in the UK market, and "are keeping an eye on various development centres across Europe, where we plan to establish Infinum as a quality partner for the development of digital products".

Since exactly a year ago, in September 2020, Infinum formed a partnership with Porsche and opened a new company, Porsche Digital Croatia, Kapraljević said that the companies were celebrating the company's first birthday in the best possible way -- the company is growing and developing rapidly and well, constantly employing talented people and working on interesting projects with currently nearly 50 employees.

"We are working on products that enhance the experience of Porsche customers and those that help to optimise... Porsche's manufacturing process," he said.

Kapraljević also said that the company was currently developing a mobile application for functionality control and car surveillance, as well as a platform for short-term and long-term Porsche rental.

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Thursday, 12 November 2020

Investments and Employment - Zagreb Company Infinum to Work with Porsche

November the 12th, 2020 - The Zagreb company Infinum is set to create for no less than the automotive giant Porsche, a move which will be accompanied by the opening up of new employment opportunities and an enormous investment.

As Poslovni Dnevnik/Tanja Ivancic writes on the 11th of November, 2020, the Zagreb company Infinum has been operating within the IT sector for 15 years now, and its last venture, ie the launch of yet another new company, opened up yet more doors for them.

''My mum taught me how to drive when I was just 15. I always tell the story of how it took me several days to learn to ride a bike - on the other hand, it only took me a few minutes to learn to drive a car. I’ve always loved cars, motorcycles and actually everything on wheels. There's something beautiful in the common nature of engineering, design and passion that cars bring together in one place. And no car brand in the world does it better than Porsche, and it's the same feeling in starting a new company and doing business with our new partners Porche Digital,'' announced Tomislav Car, co-owner and CEO of the Zagreb company Infinum.

Namely, Infinum, a Zagreb company engaged in software design and development, and Porsche Digital, a subsidiary of the huge German sports car manufacturer Porsche, launched a new company back in September - Porsche Digital Croatia. It is a digital technology development centre that, as was announced, will employ 100 professionals over the next three years to work on software design and development, artificial intelligence and machine learning, developing products and services that will work to further enhance the digital ecosystem.

Mate Rimac was the glue

In the new company, partners Infinum and Porsche Digital have equal ownership shares, and according to their current business plans, as much as 10 million euros will be invested in the company and product development.

''The automotive market is progressively adapting to new technologies and business models, so those who are triggering changes today will shape the digital market in the long run,'' said Tomislav Car, CEO of the Zagreb company Infinum, explaining that he will develop products in two main directions: one part refers to digital products which will be used by buyers and potential buyers of cars, and the second part will be related to production and other internal processes.

At the same time, the already wildly successful Zagreb company will continue to develop digital products for their customers. The leaders of Porsche Digital, which has offices all over the world, were contacted by the Infinum family through no less than Mate Rimac. As Car recounted, they ''clicked'' very quickly and realised that they were thinking similarly about technology and business.

''I hope that our cooperation will bring knowledge from Germany that we may not have yet and that together we will continue to develop such an ecosystem in Croatia,'' stated Car.

It's worth noting that the talented Tomislav Car founded Infinum back during his student days, fifteen years ago. He described this Zagreb company's very early beginnings on his website back in 2012.

''Matej Spoler, my colleague and co-founder of Infinum, and I met at high school in Karlovac. We both loved creating new things, which by chance were related to technology. There was everything, from software for PC, mobile phones and the web, and even a few avant-garde projects. I remember when Matej built water cooling for his computer to optimise the computer cooling process, and I built a computer into the boot of my first car in order to always have a large collection of music with me,'' recalls Car.

40 percent growth

Since then, the Zagreb company Infinum has grown to 280 employees and associates across as many as a dozen countries. They mostly work for western markets and their clients are global companies from all over the world. Last year, at the Group level, they had a consolidated 82 million kuna in revenue, and this year they expect to have around 100 million kuna in revenue and around 300 employees. Their average annual growth over the last five years has stood at about 40 percent. Infinum's operations and all of their investments were financed exclusively from their own reinvested earnings.

The co-owners of the Infinum group, along with the two founders, are Nikola Kapraljevic and Josip Biscan, who will also make up the management team of the new company Porshe Digital Croatia. When it comes to other companies owned by Tomislav Car, there is also CircuitMess, which he started with Albert Gajsak.

Regarding the motives that drive him, Tomislav Car says that his main desire and challenge is to create something new, regardless of whether it is a product or starting a company. For now, says Car, they aren't thinking about selling Infinum even though they do have an offer.

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Friday, 18 September 2020

Unleash the Croatian Entrepreneur & Follow Infobip, Rimac, Nanobit, Infinum

September 18, 2020 - The recent successes of Infobit, Riimac Automobili, Nanobit and Infinum show the potential of the Croatian private sector. Time to unleash the Croatian entrepreneur?

Even though we have only physically met once, one of my favourite people to follow on social media in Croatia is serial entrepreneur Andrija Colak. Co-founder of Croatia's most successful franchise (Surf'n'Fries - now in 5 continents), as well as the innovative smart umbrella, Kisha (which he cheekily sent to President Putin after the World Cup Final to avoid any presidents or prime ministers getting wet due to unexpected rainfall in the future), Andrija kindly agreed to a TCN interview last year in which I asked him about the positive aspects of doing business in Croatia:

In terms of positives... well if you are up for an adventure you have come to the right place :-) Or... if you really want to test your concept and it survives in Croatia, you can conquer the world! hahah! Actually, I'm not joking.

Successful entrepreneurs here tell me that they have succeeded here not because of Croatia, but DESPITE Croatia. So many others have given up with the bureaucracy, high taxes and nepotism, take their concepts abroad and succeed there. 

But some decide to stay and try their luck here - after all, you cannot beat the Croatian lifestyle. 

I sometimes feel that I live in two countries in Croatia. The first Croatia is the same one which is familiar to all its residents, with the worsening economic situation, polarising politics, constant complaining, corruption, and negative mindset. No wonder people are emigrating. 

But the other Croatia is a totally different place, one where only positivity exists, and where I have decided to spend an increasing amount of my time and energy.

The Croatia of the Croatian entrepreneur. 

Despite the obstacles and the negative stigma attached to entrepreneurs in Croatia, these forward-thinking individuals are quietly achieving miracles DESPITE Croatia. One only wonders what could be achieved with the system supporting their efforts. Two stunning announcements in the last 24 hours are the latest in a series of great news from the Croatian entrepreneurial world, and they give a glimpse of what Croatia 2.0 can deliver to this country. And the thousands of jobs that have been created as a direct result of the business ideas of just a few individuals in a country which is in economic crisis is quite staggering. Indeed Rimac Automobili announced last week that it has hired an additional 150 workers during the pandemic, as tens of millions of jobs were being lost worldwide. Just over a decade ago, Rimac was one man in a garage. Today, the company is closing in on 1,000 employees.  

Here are just four things that have happened in the last few weeks, the first two in the last 24 hours (all are links to TCN articles with full details. 

Swedish Gaming Giant Takes Over Zagreb Company Nanobit for Almost One Billion Kuna

Car Magazine: Rimac Automobili to Takeover Bugatti

Infobip: Croatian Company Raises 200 Million US Dollars for Investment

Porsche Digital Croatia Plans to Employ 100 Experts in Next 3 Years in Infinum Partnership

The eco-system of Croatian entrepreneurial excellence is growing, and I come across this excellence daily in my second Croatia. A meeting last week at Human, for example, who earlier this year beat Google at the prestigious Webby awards, considered the Oscars of the industry. In December I was in Berlin to se Bagatin Clinic collect the award for best international cosmetic surgery clinic 2019. And one only has to spend a short time with Nenad and Rujana Bakic and their STEM revolution and exciting partnership with Google.org to know that the seeds of the future are being sown extremely well. 

crop-hrvatska.jpg

Fresh from his successful initiative to introduce the digital nomad visa to Croatia, which has the potential to make a significant contribution to Croatia's economic numbers, Dutchman Jan de Jong and partner Jerko Trgolic are turning their attention to agriculture, with an initial project to grow tomatoes in northern Croatia, using Dutch technology and Croatian land and labour. The first phase will create 72 jobs in an economically depressed part of northern Croatia.

So many seeds, some of which have blossomed such as Rimac, Nanobit and Infobip, and SO many more that could do the same if they were getting the support they deserve rather than punishing taxation and bureaucracy. I have no idea how many jobs Rimac, Infobit, Nanobit and Infinum have created alone, but it is in the thousands. Imagine if the system was conducive to allowing other such ideas and concepts grow in Croatia - how many more tens and hundreds of thousands of jobs would be created? 

Last year, I met an American consultant for the medical tourism industry at a conference in Zagreb, and we talked about what needed to happen for this Croatian industry to progress (an industry with huge - here I go saying the hated 'P' word again - potential). He told me that the role of government was to provide the legislative framework for the industry to thrive, perhaps bring some financing, but most importantly, then get the hell out of the way

For many years, I bought into the story that Croatia was an economic basket case, with no prospects for employment, and that the emigration was inevitable. But in this second Croatia, the world of the Croatian entrepreneur, the situation is completely different, and the opportunity is there, even more so if we can unleash the Croatian entrepreneur to fulfil his or her true potential. 

And we have a very good precedent of how quickly and effectively change can be introduced. An open letter to the Prime Minister from a Dutchman on LinkedIn on July 11 asking for the introduction of a digital nomad visa started a process which resulted with the prime minister tweeting his plans to introduce the visa just 44 days later, with an amendment to the Foreigner's Act introduced to Parliament the following day. Things are moving smoothly behind the scenes, and my understanding is that this legislation should be in place by January 1. 

Croatia a bureaucratic country? It clearly doesn't have to be. 

Unleash the Croatian entrepreneur, and watch many more seeds like Rimac, Nanobit and Infobip start to bloom all over the country. 

Learn more about foreign entrepreneurs making a success of life in Croatia

Friday, 11 September 2020

Mate Rimac Discusses Croatian Economic Situation, Porsche, Infinum...

Croatia is attracting more foreign investments despite the economic woes caused by the ongoing coronavirus pandemic which has taken the world by storm. Mate Rimac, Croatia's most beloved entrepreneur has discussed the Croatian economic situation, the Croatian company Infinum, Porsche's latest dip into the waters of business in Croatia and more.

As Novac/Bernard Ivezic writes on the 10th of September, 2020, the question is whether or not the Croatian economic situation, at least in regard to high-tech, is turning into the type that can be found in the famous Silicon Valley. if you were to ask Mate Rimac, the founder and director of Rimac Automobil, then this is exactly the case.

Mate Rimac told Jutarnji list that he is delighted that Infinum and Porsche have realised a joint venture in Croatia, their planned R&D centre for software development for the automotive industry, in which they will invest 10 million euros and employ 100 experts in three years.

"I often talk to the management of Porsche about how to increase their presence in Croatia. Infinum is an extremely high-quality company with a leadership that plays in the world's first league and I'm very glad that the initial idea of ​​connecting Infinum and Porsche bore fruit," said Rimac.

Tomislav Car, co-founder and director of Infinum, the largest Croatian manufacturer of mobile applications, praised Mate Rimac on Tuesday, because their investment was made because of him.

"Thanks to Mate Rimac's company, Porsche has recognised Croatia as a good opportunity to invest in high-tech R&D projects," Car emphasised.

Rimac emphasised that the Silicon Valley is such a good place for business precisely because people help each other out. He recalled the time when Porsche invested in a Croatian technology company a couple of years ago, it sounded unreal. Could the Croatian economic situation ever provide for such an atmosphere? One can hope.

"This is Porsche's second significant investment in Croatia, but it certainly isn't the last. I hope that together with other technology companies in Croatia we'll manage to create a strong ecosystem that will grow exponentially by supporting each other," concluded Mate Rimac.

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Tuesday, 8 September 2020

Infinum and Porsche Digital Invest 10 Million Euros in Joint Company in Croatia

Zagreb, September 8, 2020 – As Hina reports, Croatian domestic IT company Infinum, together with Porsche Digital, a subsidiary of German Porsche, is launching the Porsche Digital Croatia company in Croatia, for software design and development, artificial intelligence, and machine learning, which will see a 10 million euro investment.

Infinum is one of the leading Croatian and internationally recognized companies that has been creating software design and development since it launched in 2005, and the new company with Porsche Digital will be a development center for digital technologies.

"The company will start operating at the end of September and will be located at Zagreb's Strojarska Street, and in the next three years, we are planning to employ 100 experts who will develop and design software, artificial intelligence, that is products and services that are advancing digital ecosystem," Tomislav Car, President of the Management Board and one of the founders of Infinum, pointed out at the presentation.

He added that they have equal ownership shares in the new company with Porsche Digital. Also, after 15 years of creating digital products and services on large projects, in this partnership, they see an opportunity to create a digital future.

"The automotive industry is increasingly adapting to new technologies and business models, which we see as an opportunity for our development as well, and in business plans and joint research of new business models of the Porsche brand, but also others, such as VW," said Car adding that they will work in multidisciplinary teams.

Stefan Zerweck, the head of operations at the Porsche Digital, is also satisfied with the partnership. He assessed that the opening of the company owned by Infinum and Porsche is a strategic venture to expand the global innovation ecosystem because it shares the same business spirit and goals.

"With Infinium as a strong partner and with the international network of teams that share the knowledge, we continue to research all of the possibilities of digitalization. Infinum has everything we've been looking for, from the local recognization, awards they received, to working on the large and complex projects for global clients, where it's also important that they care for employers' education and satisfaction," said Zerweck.

 

 

 

Member of the Management Board for Finance at Porsche Digital, Ralph Knoll, regarding the joint venture, expressed the optimism for future business, and both companies consider that their partnership will attract talents to Zagreb and Croatia from technology and innovations fields, but also contribute to the country's image in terms of being desirable for the automotive industry.

Infinum currently employs about 250 experts to various clients in the world from various industries, and their products are used by millions of people around the world. For several years, even in 2019, they were on the Deloitte list as the fastest growing technology company in Europe and beyond. In addition to Zagreb, they operate and have offices in the USA and several more countries.

Porsche Digital is a technology and digital laboratory for sports car manufacturer Porsche based in Zuffenhausen, Germany, and employs around 160 people in several locations around the world. With their new office in Zagreb, their global network of innovations consists of three more locations in Europe and four additional offices in Israel, China, and the USA, with development centers in Ludwigsburg, Berlin, Tel Aviv, Shanghai, Atlanta, and Silicon Valley.

 

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Saturday, 2 November 2019

Croatian Company Infinum Goes From .Hr to .Com Thanks to Determination

As Novac writes on the 1st of November, 2019, the Croatian company Infinum, which, by the way, operates not only here in the Republic of Croatia, but all over the world, said that simply changing their web domain from infinum.hr to infinum.com saw great changes follow.

''We started the company back while we were still students with lots of ideas but very shallow pockets, so we had to be careful what we spent. Since we started in Croatia, we got the ''.hr'' domain for free. But to expand our business abroad, we needed a country-specific domain,'' Tomislav Car wrote on the Infinum website, adding that he and his colleague, Matej Špoler, had decided in this context to buy the .co domain because it was the "closest" to .com, which was still too expensive for them at the time.

But as many as 495 of the top 500 American companies in 2016 had the .com domain, he points out, so it seemed to the two that this was one of the conditions for a successful business, and as Infinum grew, so did Car and Špoler's investment opportunities. When the company reached a figure of 30 employees, they decided it was time to take a step further. Still, the infinum.com domain was taken.

''Alexander had a software development company of the same name and had no intention of selling us the domain name. His clients knew him by that name, so the change was risky,'' recalled Tomislav Car, who was not stopped by this obstacle on the way to his desired address for the company's website.

Instead, he sent mail to Alexander five to six times a year for the entire seven years and each time offered him more money for the letter 'm' in the domain name. While the Croatian company Infinum was growing and enjoying more business success, the American company of the same name decided to change its focus, so the name of the company no longer meant that much. Still, Car claims, "Alexander wasn't ready to give up his domain."

''It made sense. We were the only buyer, and he was the only seller. My first offer was 3,000 US dollars while his counter offer was 100,000 US dollars. Our seven-year bargaining would even embarrass the traders from Istanbul's Bazaar,'' said the co-founder of Infinum, adding that after these painstaking and lengthy negotiations, they paid 25,000 US dollars for the letter.

Yet, he believes, it has paid off. Search engines like Google, as Car explained, are well known for ranking domains not related to a particular country when listing results.

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Friday, 6 April 2018

Rimac and Nanobit among 500 Fastest Growing Companies in Europe, Infinum Close Behind

Europe’s economy is recovering, slowly but surely, and joining those currently developing fast are three Croatian companies

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