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bne Tech
March 15, 2019 www.intellinews.com I Page 26
Ukrainian-Russian startup raises $1.5mn to teach English to Polish and Spanish kids
AllRight.io, an e-learning startup with Ukrain- ian and Russian roots, has just secured $1.5mn in a funding round led by Buran Venture Capital, reports East-West Digital News (EWDN).
Founded in 2017, AllRight provides children aged 4-12 with courses of English as a foreign lan- guage. The startup claims to serve more than
1,700 active users monthly, essentially from Rus- sia, with 150 teachers coming from a variety of countries across the world.
Soon after launch, the startup received an initial capital injection of “several hundreds of thousand $,” said its founder, Ukrainian born Oleg Oksyuk, in an exchange with East-West Digital News.
World Bank to open shared services centre in Bulgaria
The World Bank will open a shared services centre in Bulgaria that provide back office corporate and technology support to the group’s internal business operations, the government said in a statement after backing the bank’s intention at its March 13 session.
This will be World Bank’s second such centre. The first is located in India and serves the organisation with accounting, HR, IT and other services.
In Bulgaria, the centre is expected to employ 275 people within five years.
The World Bank announced its intention to launch the facility back in January. It has picked Bulgaria due to its strategic location, qualified labour force and good infrastructure, the government said in the statement.
Hungary’s online retail sales post double-digit growth
Online retail sales in Hungary grew 17% to HUF425bn (€1.3bn) last year, just a tad below the 18% annual growth in 2017, according to a joint survey by GKI Digital and Arukereso released on March 13. E-commerce in Hungary accounted for 4.5% of total retail sales turnover last year.
Online sales are growing at a pace three-fold that of retail sales. The number of active online
shoppers reached 3.2mn and the average transaction value exceeded HUF11,000, up from HUF10,000 a year earlier, GKI said.
The survey shows Hungarian shoppers placed 38mn orders to domestic e-retailers, up 13% from a year earlier. Each shopper ordered products online 12 times, on average, 7% more than in the previous year.