The European Bank for Reconstruction and Development (EBRD) is making a €4m equity investment in Geofoto, a Zagreb, Croatia-based geodetic company offering mapping, geodetic survey, photogrammetry, geoinformatics and aerial survey services.
Geofoto is one of the leading providers of geospatial information services in south-eastern Europe, ranking among the top ten in the world.
Its services are for urban planning, land administration, property management, issuing and obtaining construction permits and other cadastral purposes.
Geofoto’s clients include municipalities, ministries and property developers, predominantly from Croatia, but also from neighbouring countries, EU, Latin America and the Middle East.
As part of its growth strategy, the company aims to attract even more international clients and to further expand its activity outside Croatia.
The EBRD funds will be used to support Geofoto’s further development and will finance the purchase of new equipment, including a new airplane, which will enable the company to meet the increasing demand for its aerial survey services.