Fractional CFO services in Zagreb

Zagreb is the most startling startup market in Southeast Europe - a eurozone city (Croatia joined in January 2023) of 800,000 that has produced two unicorns: Infobip, the cloud communications platform valued at $2B+ after its 2020 investment from One Equity Partners, and Rimac Automobili, the Sveta Nedelja-based electric hypercar and technology company that supplies battery and EV components to Porsche, Hyundai and Kia.

Google's acquisition of Zagreb-founded Photomath in 2023 added a third global exit, confirming that Zagreb engineers can build products that Tier 1 acquirers value highly.

We work with Zagreb-based startups from seed to Series B+, supporting them on financial modelling, FP&A, fundraise prep, cap table management, runway management and hiring plans.

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Zagreb startup ecosystem

What makes Zagreb's startup ecosystem distinct - sector concentrations, tech clusters and the talent pipeline that feeds Croatia's leading tech hub.

Two unicorns from a city of 800,000

Infobip ($2B+ valuation, cloud communications) and Rimac Automobili (EV technology, invested in by Porsche, Hyundai and Kia) are Southeast Europe's most prominent tech exits originating from the Zagreb area. Photomath's acquisition by Google in 2023 added a third significant exit. Croatia's unicorn-per-capita ratio now outperforms China - a remarkable benchmark for a CEE market that only recently adopted the euro.

Communications infrastructure, SaaS, edtech and mobility lead

Infobip's Startup Tribe programme, launched in 2021, provides API credits, cloud services and mentorship to Zagreb startups building on communications infrastructure. Photomath's AI-powered maths app was used by 220M+ students globally before the Google acquisition. Repsly (retail execution SaaS) and Bellabeat (women's health wearables) demonstrate SaaS and consumer hardware depth outside the communications cluster.

ZICER, Algebra LAB and the Zagreb Innovation Corridor

ZICER (Zagreb Innovation Centre) supports 100+ tech companies with incubation, co-working and financing assistance from the City of Zagreb - including hardware lab facilities rare in the CEE region. Algebra LAB, run by Algebra University, bridges academic IT training with startup incubation, particularly in web development, data science and IoT. The Grad Zagreb municipality has positioned the ZICER cluster as the nucleus of a broader Zagreb innovation corridor along the Sava river.

University of Zagreb and FER talent pipeline

The Faculty of Electrical Engineering and Computing (FER) at the University of Zagreb is Croatia's pre-eminent engineering faculty, consistently ranked among Southeast Europe's best for computer science, electronics and software engineering. FER alumni are heavily represented in Infobip's and Rimac's founding teams and throughout the Zagreb startup scene. The Faculty of Economics and Business (EFZG) feeds finance and product talent.

Accelerators and angel networks active in Zagreb

Zagreb's accelerator ecosystem is anchored by ZICER, Infobip Startup Tribe and South Central Ventures, with additional support from government-backed programmes targeting CEE and Southeast European founders.

ZICER - Zagreb Innovation Centre

ZICER is Zagreb's city-funded innovation centre providing incubation, acceleration, co-working and hardware lab infrastructure for 100+ tech companies. Funded by the City of Zagreb, it is the primary public-sector anchor of the startup ecosystem and a first port of call for early-stage founders seeking subsidised office space and programme access.

Infobip Startup Tribe

Infobip Startup Tribe is Infobip's startup support programme providing API credits, cloud communication services and mentor access to early-stage startups building on voice, SMS, WhatsApp and messaging infrastructure. Launched in 2021, it reflects Infobip's deliberate strategy to seed the next wave of Croatian and regional founders.

South Central Ventures

South Central Ventures is a regional VC fund investing in technology companies across Southeast Europe, with offices in Zagreb, Ljubljana, Belgrade and Skopje. Backed by the European Investment Fund, it invests €300k–€2M in early-stage and growth-stage companies targeting B2B SaaS, marketplace and digital infrastructure markets.

Algebra LAB

Algebra LAB is the startup incubator and innovation arm of Algebra University in Zagreb, focused on web development, data science, IoT and software engineering projects. Acts as a bridge between Algebra's IT training programmes and the commercial startup ecosystem, providing co-working space, mentorship and access to the wider Zagreb tech community.

HBOR (Croatian Bank for Reconstruction and Development)

HBOR is Croatia's state development bank, providing loans, guarantees and equity co-investment for Croatian technology companies. Manages EU structural fund programmes for Croatian startups and growth companies, and co-invests alongside South Central Ventures and private investors in rounds up to €5M.

Fil Rouge Capital

Fil Rouge Capital is Zagreb's most active private seed and pre-seed VC fund, investing €100k–€500k in Croatian and CEE early-stage startups. One of the most prolific deal-makers in the Croatian ecosystem with a portfolio of 40+ companies across SaaS, marketplace and consumer verticals.

Zagreb-built companies that reached global scale

These companies are the proof points Zagreb founders and investors cite when asserting the city's capacity to produce globally competitive tech businesses from a relatively small domestic market.

Infobip

Infobip is a cloud communications platform founded in Zagreb in 2006 by Silvio Kutić, Roberto Kutić and Izabel Jelenić. Raised $200M from One Equity Partners in 2020 at a $2B+ valuation - Croatia's first unicorn - and provides omnichannel messaging, voice and email APIs to 750+ operators and 70,000+ businesses globally.

Rimac Technology

Rimac Technology is founded by Mate Rimac in Sveta Nedelja (Zagreb area) and is the EV battery and powertrain technology company behind the Rimac Nevera hypercar, now also powering Porsche, Hyundai, Kia and Lamborghini EV projects. Invested in by Porsche AG and Hyundai, it is Croatia's second unicorn and one of Europe's most significant automotive tech companies.

Photomath

Photomath is a Zagreb-founded AI-powered maths learning app that reached 220M+ downloads globally before being acquired by Google in 2023. Built by Damir Sabol and the Microblink team, it was one of the most widely used edtech apps in the world and represents Zagreb's most significant consumer app exit.

Repsly

Repsly is a Zagreb-founded retail execution and field sales management SaaS platform, serving 1,000+ consumer goods brands and distributors globally. Backed by Silicon Valley investors including True Ventures, it is a strong example of Zagreb B2B SaaS penetrating US enterprise markets.

Bellabeat

Bellabeat is a Zagreb-co-founded women's health and wellness wearables company, selling smart jewellery and trackers that focus on female-specific health metrics including stress, menstrual cycle and sleep. Raised $16M+ and sold millions of devices globally - a rare consumer hardware success from the Croatian ecosystem.

Microblink

Microblink is a Zagreb-founded AI-powered document scanning and data extraction platform used by financial institutions, government agencies and identity verification companies globally. The team behind Photomath - an example of a single Zagreb engineering core producing multiple globally significant products.

Simple pricing

No hidden costs, no complicated long-term contracts. We understand how important flexibility is for Zagreb startups.

Core£4,000

Per month

Accounting / FP&A tech stack implementation
Monthly financial statements and reporting pack
Quarterly board pack with detailed financial analysis (with variance analysis vs. budget, relevant KPI observations etc.)
Investor-friendly output

Grow£8,000

Per month

Everything in Core, plus
Operating model (via an online platform like Runway or Excel-based)
Ongoing model maintenance, refining projections, burn/runway management
Customer cohorts modelling, churn and retention analysis
LTV / CAC, unit economics analysis
Cap table management

Pro£12,000

Per month

Everything in Grow, plus
M&A / fundraising support; review of business plan
Pitch deck preparation
Investor approach strategy / list building
Due diligence support and deal negotiation
Valuation as required and free access to Multiples Pro

Packages shown are illustrative, final pricing is tailored to client requirements.

Recently completed fractional CFO projects

Selected fractional CFO engagements and prior CFO experience.

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Got questions?

Schedule a call ordrop us an email to learn more about our CFO-as-a-service, capital raising and M&A advisory offering.

Unlike old-school financial advisory firms that are stuck in the past, we truly understand tech and challenges startups face. Decades of investment banking experience allow us to see bigger picture, strategically integrate into your workflows, and ultimately provide guidance towards an M&A exit or the next funding round.

Fractional CFO services in Zagreb