Thanks to two capital injections and Business Angels Network (BAN) Vlaanderen's expertise, Geo Communication Group is ready to conquer Flemish and international market. After an initial contribution of € 150,000 in April 2014 , the first contacts were made for an additional loan awarded by Participatiefonds Vlaanderen. The additional funding should help Geo Communication to roll out Buzz, an application for geographic targeted communication.
Geo Communication Group was founded in January 2014 by experienced entrepreneurs Koen Hoebeek and Geert Van Boven. The idea for Post Buzz appeared when the two founders noticed there was no way to communicate digitally on the basis of the geographic location. Therefore, they decided to develop an application that enables to share with locals and residents the public news and events that are relevant to its neighbourhood, district or town.
Geert Van Boven, founder and CEO of Geo Communication explains: "In April '14 we received a capital injection of € 150,000 by BAN Vlaanderen. Thanks to this capital, we obtained a bank loan and the first contacts via BAN Flanders for the
Participatiefonds loan. This additional loan was approved at the end of January".
BAN Vlaanderen knows and understands the technology and the market and acts as an exclusive partner of Flanders Participation in the award of BA + loans. Interesting files are selected and analysed by the Business Angels Network and its members. After a positive assessment the project is proposed to Participatiefonds Vlaanderen. The BA + loan Participation Flanders is designed for entrepreneurs who have difficulty in accessing to traditional bank credits.