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Investment Pitch

  1. Executive Summary 

Business Concept – RENER – Versatile and Strategic Tech Visionary 

RENER stands as a dynamic force in the tech industry, pioneering with a dual-focused strategy that caters to diverse market needs. At our core, we specialize in developing innovative Software as a Service (SaaS) platforms for the global market. Our portfolio, featuring standout products like rTrust, VERPO, OPN, and mRep, underscores our prowess in crafting scalable and impactful digital solutions. Recognizing the time-intensive nature of achieving profitable exits, stock exchange listings, or securing new investments, we’ve strategically diversified our approach. 

To enhance our cash flow and increase market impact, RENER is branching out into two new key areas. First, we’re beginning to sell our in-house developed software directly, accessing immediate revenue opportunities. Second, we’re providing custom software development and integration services to a diverse range of local and international clients. This strategic expansion ensures a continuous revenue stream and showcases our flexibility and capability to address various client requirements. 

Our comprehensive approach positions RENER not just as a developer of cutting-edge SaaS products, but also as a responsive and innovative provider of tailored software solutions. This multifaceted strategy is our answer to the rapidly evolving demands of the technology sector, marking us as a visionary in both product development and client-centric services. 

RENER’s SaaS Portfolio: Solving Industry Challenges with Unique Solutions 

VERPO – The transformer of the marketing, loyalty, reviews, payments, and loan originations 

VERPO addresses the critical challenge of connecting buyers and sellers in a transparent and efficient manner. It stands out with its comprehensive approach, integrating seller reviews, loyalty programs, and innovative open banking functionalities, including loan origination. This multifaceted approach makes VERPO unique in the market, serving as more than just a transactional platform, but as a complete ecosystem for commerce. 

Market size (Kosovo, Albania, N. Macedonia):  

Referral: TAM: 200,000+ businesses, SAM: 130,000, SOM: 60,000 |  Market share: 30%  |  Yearly profit per business: €100.00 | 1.8M/yrl. when achieving 30% of market share 

Loyalty: 200,000+ businesses, SAM: 130,000, SOM: 60,000 |  Market share: 30%  |  Yearly profit per business: €100.00 | 1.8M/yrl when achieving 30% of market share 

Payments: TAM: 200,000+ businesses, SAM: 130,000, SOM: 60,000 |  Market share: 30%  |  Yearly profit per business: €50.00 | 0.9M/yrl when achieving 30% of market share 

Loan origination: TAM: 2,500,000+ unique bank accounts | SAM: 1,250,000  | SOM: 500,000 | Market share: 30% | The average of the loans origination: 500 | Service price: 0.3% | Yearly income: €225,000 

eWaiter – Streamlining Operations in Food Services 

The primary problem eWaiter solves is the inefficiency in restaurant management and customer service. Its seamless integration with existing ERP systems optimizes both front-end service and back-end management processes. What makes eWaiter unique is its adaptability with various ERP systems and its enhancement of operational efficiency, making it a versatile tool for any food service establishment. 

Market size (Kosovo, Albania and N. Macedonia): TAM: 20,000 restaurants and caffeterias | SAM: 12,000  |  SOM: 8,000 | Market share: 10% | Monthly profit: €450 | Yrl income: 4.3M 

mREP – Empowering Legal Integrity and Civic Engagement 

mREP tackles the challenge of legal non-compliance and lack of citizen engagement in legal processes. It’s not just a tool for institutions; it actively involves citizens in legal vigilance, rewarding their participation. This dual approach of institutional utility and citizen empowerment is what sets mREP apart, making it a unique platform for promoting legal transparency and accountability. 

Market size (Albania, Kosovo and North Macedonia) TAM: 178 Municipalities | Price per month: €350 | Yearly fee: €747,000 + 10% transaction fees of citation ~ 1M+ per year 

Market size (Canada) TAM: 3,700   |   SAM: 2,000   |   SOM: 1,500   |   Price per month: $199 | Yearly income: 3.5M + transaction fee 

rTrust – Ensuring Secure in Digital Interactions | Market size (Globally): $43 BN (up to 2030)  

rTrust addresses the growing need for security and reliability in digital transactions. As an EU Qualified Trusted Service Provider, it offers advanced features like electronic signatures, stamps, KYC, and KYB services, and incorporates cutting-edge technology for face recognition and sanctions list updates. Its collaboration with renowned entities like Amazon and OFAC for enhanced security features makes rTrust a unique and trustworthy digital service provider. 

OPN – Transforming the US Real Estate Industry   |   Market size: $220 billion.  

OPN is designed to revitalize the US real estate sector, addressing the fragmentation and inefficiencies in the market. Unlike traditional platforms, OPN acts as a comprehensive hub, not only for real estate agents but also for lenders, insurance companies, and contractors. This holistic approach to real estate transactions makes OPN a standout platform, demonstrating our innovative approach to digital solutions in the real estate domain. 

Each platform in RENER’s portfolio not only addresses specific industry challenges but also stands out for its unique approach to providing solutions, showcasing our commitment to innovation and excellence in the SaaS domain. 

RENER’S Objectives: Short-Term and Long-Term Goals for RENER 

Short-Term Goals: 

  1. Attracting Strategic Investors:  

Our immediate focus is to secure investment from tech-savvy investors who can offer more than just capital. We aim to find investors who bring valuable network and strategic experience to the table. The plan is to secure working capital, fueling daily operations, sales, and marketing efforts, in one side and buy convertible debts note from the current investors.  

Mid-Term Goals: 

  1. Securing Series, A Funding:  

The next phase involves seeking Series A investments, particularly from London-based venture capitals. This step is crucial for advancing our developed technologies and deploying the unique solutions we’ve cultivated. The funding will predominantly cover sales and marketing expenses, vital for expanding our market presence and enhancing our product reach. 

Long-Term Goals: 

  1. Preparing for Exit or Public Listing:  

In the long run, our objective is to strategically position each of our SaaS solutions for either a profitable exit or a public listing on major stock exchanges like London or Nasdaq. This goal involves meticulous planning, robust growth strategies, and ensuring each platform’s scalability and market relevance to attract the right buyers or public investors, marking a significant milestone in RENER’s journey. 


RENER envisions becoming a global leader in technology innovation, where our SaaS platforms set new standards in efficiency and user engagement. We aim for strategic growth through impactful partnerships, leading to successful exits and prestigious public listings. Our commitment is to reshape industries worldwide with our pioneering solutions, marking a legacy of sustainable and transformative impact in the tech sector. 


RENER is committed to advancing technological innovation and driving digital transformation globally. Our mission is to develop and deliver versatile, user-centric SaaS solutions, fostering growth and efficiency in businesses and industries. We strive to create impactful change, prioritizing sustainability, and strategic partnerships in the tech sector. 

Key Success Factors 

Focused on these key success factors, RENER is poised for achieving business excellence, ensuring long-term sustainability and a positive impact in the tech industry. 

  1. Securing Strategic Investors: Targeting tech-savvy investors who bring capital, strategic expertise, and valuable networks, vital for growth and market expansion. 
  1. Commercialization of Developed Solutions: Effectively marketing and selling established SaaS products like VERPO, eWaiter, mREP and rTrust to create sustainable revenue streams. 
  1. Expanding Custom Software Services: Enhancing bespoke software development and integration services for diverse markets to ensure steady cash flow and income diversity. 
  1. Securing Series A Funding: Actively seeking Series A investments for technological advancement and market expansion. 
  1. Building Market Presence: Implementing targeted marketing and sales strategies to boost visibility and adoption of our products and services. 
  1. Deployment of SaaS Platforms: Ensuring effective deployment and operational excellence of our SaaS platforms for maximum market impact. 
  1. Financial Prudence and Allocation: Strategically managing financial resources, balancing operational needs and founder reimbursements. 
  1. Skilled Team and Talent Management: Attracting and retaining a talented workforce to drive innovation and strategic objectives. 
  1. Adaptability to Market Changes: Staying agile and responsive to industry shifts and evolving customer needs. 
  1. Commitment to ESG Principles 
  1. Environmental Stewardship: Adopting eco-friendly practices in our operations and development. 
  1. Social Responsibility: Promoting community engagement, diversity, and high ethical standards. 
  1. Strong Corporate Governance 
  1. Transparency: Maintaining open and clear communication with stakeholders. 
  1. Accountability: Being responsible for our actions and decisions. 
  1. Integrity: Upholding honesty and ethical practices in all business activities. 
  1. Risk Management: Implementing effective risk assessment and mitigation. 
  1. Compliance: Adhering to legal and regulatory standards. 
  1. Professional Competency and Wellbeing: Ensuring the professional development and wellbeing of our team, as their skills and health are crucial to our success and ethical business practices. 
  1. Company Description 

Limited Liability Company (LLC):  

Currently, RENER operates as an LLC, providing flexibility in management and certain tax advantages. This structure limits the personal liability of its members, allowing for a separation between personal and business assets. The LLC status has suited the initial phases of RENER’s growth, facilitating operational flexibility and simpler tax filings. 


RENER operates within the dynamic and rapidly evolving Information Technology (IT) industry, specifically in the software development sector. This industry encompasses a wide range of activities related to the creation, maintenance, and distribution of software applications and systems. 

History of RENER 

Founded in 2013, RENER initially had a passive presence in the industry until 2018. This period marked the beginning of an active phase where the company started delivering software development solutions and training programs. This shift represented a significant turning point, setting the stage for future growth and innovation. 

In 2021, a pivotal moment occurred when RENER received a direct and in-kind investment of €400,000 (€150,000 investment and €250,000 convertible debts) from PBC. This influx of capital enabled the launch of the TÉTÉ (Tech-knowledge and Techno-logic) program, a strategic initiative focused on talent development and technological innovation. The program successfully trained 80 engineers, fostering a pool of highly skilled professionals. The most exceptional talents among these engineers were subsequently employed by RENER, significantly enhancing the company’s technical capabilities and innovation potential. 

These skilled professionals played a crucial role in the development of five startup companies under RENER’s umbrella. These startups introduced disruptive technologies across various sectors and expanded RENER’s reach into significant markets such as the United States, the United Kingdom, and the European Union. This expansion was not just geographical but also represented a diversification into different industry sectors, showcasing RENER’s ability to innovate and adapt. 

The history of RENER is a testament to its evolution from a passive entity to a dynamic and influential player in the software development and IT training sectors. The company’s strategic decisions, particularly the investment in the TÉTÉ program and the focus on talent cultivation, have laid a strong foundation for continued growth and technological leadership in the industry. 


RENER is in the center of Prishtina city. 

  1. Products or Services 

Description: Our Innovative Solutions 

At RENER, we’re excited to offer a suite of diverse SaaS platforms designed to meet specific market needs. Our portfolio includes: 

– VERPO, mRep, rTrust, and eWaiter: Tailored for the dynamic markets of Kosovo, Albania, and Macedonia. 

OPN: Specially developed for the demanding United States market. 

Development Stage: Beyond Conception 

All our platforms are fully developed, delivering flawless functionalities that align seamlessly with their intended purposes. Our commitment extends to continual improvements and feature enhancements, driven by market adoption trends and strategic planning. 

Life Cycle: Varied Stages of Market Introduction 

SaaS Platforms like VERPO and rTrust: These are in the introduction phase. We’ve seen significant interest in these platforms, with rTrust already boasting several thousand users and VERPO nearing two hundred business clients. 

eWaiter: This platform is ready for deployment. Created in response to market demand, eWaiter has shown promising interest from stakeholders. We’re currently assembling and training a dedicated sales team to ensure a successful rollout. 

mRep: Set for deployment to public institutions in Kosovo from January 2024. Following successful presentations in Albanian counties, there’s a commitment to implement mRep regionally. Our U.S. team, based in Texas, is also gearing up for the January 2024 deployment. 

  1. VERPO  

Country to operate: Republic of Kosova (Albania and North Macedonia, second part of the year) 

Industry: Digital Marketing and Digital Banking 

TAM: 50,000 businesses, SAM: 20,000 businesses, SOM: 10,000, Market share: 35%  

Growth rate: 240% 



  • Social Media and Influencer Marketing: 
  • Social media prominence continues to grow, as it becomes increasingly important for businesses and advertising​​. 
  • A shift towards decentralized social networks like Mastodon and BlueSky is emerging, focusing on user control over content and data​​. 
  • The creator economy is expanding, with an emphasis on partnerships between brands and content creators, including employees, customers, or niche experts​. 


  • User-Generated Content (UGC):  

UGC, which includes authentic images, comments, videos, and reviews from real customers, is increasingly important. It adds credibility and helps shape potential customers’ decision-making processes. Many companies now base entire campaigns on UGC, using it to generate leads and enhance their referral programs. 

  • Personalization:  

Tailoring experiences to individual customer needs has become a staple in marketing. Personalization allows businesses to target specific demog-raphics and interests, improving the effectiveness of referral programs by offering rewards that matter to the individual. 

  • Influencer Marketing Growth:  

Influencer marketing has become a key asset in digital marketing. Influencers, especially micro-influencers with smaller, more engaged audi-ences, are effective in creating brand visibility and building strong referral net-works. This approach is cost-effective and innovative for representing brands. 

  • Speed and Convenience:  

Fast and convenient referral processes are becoming more popular. Referral program demonstrates the effectiveness of easy-to-use interfaces and attractive bonuses, which are crucial for drawing in and retaining participants. 

  • Trust in Referrals:  

A significant 92% of consumers trust referrals from friends and family over other forms of advertising. This underscores the importance of word-of-mouth in consumer decision-making. 

  • Incentivization:  

88% of Americans prefer incentives for sharing products on social media. Millennials are heavily influenced by word-of-mouth, with 91% considering purchases based on friends’ recommendations. 

  • Referral Program Participation:  

While 83% of customers are willing to refer products and services, only 29% do so without being prompted, highlighting the need for effective incentive structures in referral programs. 

  • Referral Rates Across Industries:  

The global average referral rate is 2.35%, with the highest rates in software, books, and food industries, and the lowest in beauty, apparel, and health. 

  • Double-Sided Programs:  

Most referral programs (91.2%) are double-sided, rewarding both the promoter and the referred friend, with 72% of companies offering the same reward to both parties. 


  • Global Expansion:  

Initially centered in Europe, open banking is now seeing global expansion. Countries around the world are adopting open banking practices, driven by financial regulators who are encouraging their adoption to stimulate innovation and improve customer experience. 

  • Consolidation of Banking and Fintech Partnerships:  

Open banking has fostered new collaborations between banks and fintechs, and these partnerships are expected to strengthen. This consolidation will enable banks to quickly adapt to market changes and cater to growing customer demands for personalized financial services. 

  • Rising Demand for Instant Payments:  

There’s an increasing demand for instant payments, allowing for real-time money transfers. This trend is being driven by customer convenience and is becoming essential for large transactions like car or real estate purchases. 

  • Focus on Small Businesses:  

There’s a growing focus on small and mid-sized businesses (SMBs) in open banking. Banks and credit unions are encouraged to view fintechs as collaborative partners to provide enhanced services to SMBs, including cash flow-based lending and automated bookkeeping. 


  • Fintech Partnerships:  

Traditional banks and financial institutions are increasingly partnering with fintech companies. These partnerships allow traditional lenders to leverage innovative technologies and platforms developed by fintechs to enhance their loan origination processes. 

  • Mobile Technology: 

The use of mobile applications for loan origination is on the rise. These apps offer convenience to customers, allowing them to apply for loans, upload documents, and track application status on-the-go. 


This integrated approach ensures a comprehensive understanding of the ecosystem. 

  • Consumers:  

Young to middle-aged adults (20-50 years) active on social media and online platforms, influenced by peer recommendations. 

  • Merchants:  

Seek to expand their customer base through word-of-mouth; need tools to manage referral programs. 

  • Banks:  

Use referral marketing to attract new customers for financial products, incentivizing existing customers for referrals. 

  • Consumers:  

Adults aged 25-60 who seek and trust online reviews for purchasing decisions. 

  • Merchants:  

Rely on online reviews for reputation management and customer acquisition. 

  • Banks:  

Benefit from feedback on services, using it to improve service quality and design better products. 

  • Consumers:  

Adults aged 20-50, comfortable with digital banking, seeking integrated financial services. 

  • Banks:  

Provide financial data and infrastructure, develop secure data sharing and new services. 

  • Merchants:  

Utilize open banking for streamlined payments and customer data insights, especially in e-commerce. 

  • Consumers:  

Adults aged 30-60 seek loans for various purposes like home buying or business expansion. 

  • Banks and Financial Institutions:  

Primary sources of loans, focused on regulatory compliance and market trends. 

  • Merchants:  

Involved in facilitating loans, especially in sectors like automotive or large appliances. 


The solution we offer is totally unique, worldwide, and there is not any similar solution, either for referral, or for loyalty or for open banking. 

  1. eWaiter 

Country to operate: Republic of Kosova  

Industry: Gastronomy and Hospitality 

Size: TAM: 5,000 businesses, SAM: 2,000 businesses, SOM: 1,000, Market share: 30% 

Growth rate: 240% per yr. 


  1. Tableside Ordering Systems:  

Many restaurants have implemented digital tableside ordering systems, where customers can place orders directly from their table using tablets or their smartphones. This trend enhances customer experience by providing convenience, detailed menu information, and even personalized recommendations. 

  1. QR Code Menus and Ordering:  

QR codes have become increasingly popular, especially post-pandemic. Customers can scan a QR code to view the menu and place orders without needing physical menus. This method is efficient, reduces contact, and can be updated in real-time for menu changes. 

  1. Integrated Payment Solutions:  

Along with digital ordering, integrated digital payment solutions are on the rise. These systems allow customers to pay for their meals through the same digital platform, streamlining the process and reducing the need for physical credit card transactions. 

  1. Self-service Kiosks:  

In fast-casual restaurants and cafes, self-service kiosks where customers can place their orders are becoming more common. These kiosks can reduce wait times and free up staff to focus on food preparation and customer service. 

  1. Enhanced Customer Engagement:  

Features like real-time order tracking, feedback options, and interactive menu elements can enhance customer engagement and satisfaction. 


  1. Restaurant and Cafeteria Operators: 

Demographics: This group includes owners and managers of various types of dining establishments, ranging from casual cafeterias to upscale restaurants. They can be of any age, though likely skew towards adults aged 25-60, who are either tech-savvy or open to adopting new technologies to enhance their business operations. 

Characteristics: Interested in increasing operational efficiency and decreasing working force costs and dependency, enhancing customer experience, and boosting sales. They may also be attracted to the ability to gain insights from customer data and reviews. 

  1. Customers of Restaurants and Cafeterias: 

Demographics: This is a broad and diverse group, including individuals of all ages, genders, and income levels. However, the platform may particularly appeal to tech-savvy younger demographics, such as Millennials and Gen Z, who are accustomed to digital interactions and value convenience. 

Interests: Interest in dining out, appreciation for convenience in ordering and payment, and a desire for detailed information about menu items (like ingredients and nutritional info). They may also be responsive to personalized marketing and offers. 

  1. Third-Party Businesses (Advertisers): 

Demographics: This includes businesses such as touristic agencies, museums, and retail stores. These entities are looking to target restaurant and cafeteria patrons for their products and services. 

Characteristics: Interested in reaching a diverse and captive audience in a relaxed setting. These businesses are likely looking for innovative advertising methods and may value the data insights they can gain from the interactions with your platform. 

  1. Cross-Segment Considerations: 

Tech-Savvy Individuals: Across all groups, there’s a lean towards those who are comfortable with technology and digital transactions. 

Health-Conscious Consumers: Given the emphasis on ingredient transparency, this platform might particularly appeal to health-conscious diners. 

Tourists and Travelers: These individuals may find value in the convenience and information provided by the platform, as well as the local advertising of nearby attractions and services. 


Our solution is unique in the current market, as no other competitors offer a service or system architecture as comprehensive as ours. Although we do not directly compete with or threaten them, we acknowledge potential competition from existing software providers in the restaurant and cafeteria sector. To gain a competitive advantage, we are concentrating on introducing advanced features such as seamless digital payments. We are also innovating a distinct profit-sharing model with our restaurant and cafeteria partners, based on ad revenue from the devices we install at their locations. This strategy, combining advanced technology with mutually beneficial financial partnerships, positions us strongly against any potential competitors in this field. 

  1. mRep 

Country to operate: Kosovo (Albania, and Canada on second phase of the year. Canada a year later) 

Industry: Rule of law and public safety 


37 Municipalities in Kosovo, or 132,756 euro per year + transaction fee 

61 Municipalities in Albania or 218,686 euro per year + transaction fee, and  

3,573 in Canada or 12,819,924 euro per year + transaction fee 


The current industry trends are characterized by a significant shift towards mass participation and decentralization. A prime example of this is the widespread use of social media, which has revolutionized how information is disseminated and consumed. DIY tools like Canva empower the masses to create promotional content, and AI tools that provide structured information also demonstrate that decentralization is a solution responding to the dynamics of our current life. In line with these trends, we developed the mRep platform, which gives to the public the opportunity to inform authorities about wrongdoings, missing traffic signs, or damaged roads. 


Public sector – Municipalities in Kosovo, Albania, and Canada. 


There are several competitors in this field, yet each has its own limitations. In Kosovo, the “Policia” app exists but suffers from low user engagement due to its limited features. In Albania, the “Komisariati Digjital” app was discontinued after a significant security breach. In Canada, while there are multiple apps and websites for reporting wrongdoings to authorities, they lack certain functionalities, particularly in terms of mobility. 

Our product stands out by offering unique features. It enables users to report incidents in real-time, particularly focusing on traffic-related issues while driving. Furthermore, by offering incentives to users who report these incidents, we significantly shift the dynamics of user engagement. These unique selling points position our platform not just to foster community involvement but also to create win-win situations for all stakeholders involved. This strategic approach is aimed at overcoming potential resistance and establishing a strong market presence. 

  1. rTrust 


Kosovo and Western Balkan Countries (without Serbia) 


Digital ID, eSignature, eSeal, KYC and KYB 


TAM: ~400,000 business and 10.6 million people; SAM: ~ 100,000 business and 5 million users; SOM: 20,000 Businesses and 1,000,000 users, Market share: 30% 

The Global market size: $43 billion up to 2023 (World Bank, 2023) speaks itself about the trends in eSignature.  




Digital ID 

The European Union’s Electronic Identification and Signature (eIDAS) regulation requires cross-border recognition of electronic ID, affecting national digital identity schemes in the EU. 

New ID standards for digital travel credentials, mobile driving licenses, and interoperability tests have emerged, fostering compatibility. 


The regulatory framework includes automated Anti-Money Laundering (AML), eIDAS, and Payment Services Directive 2 (PSD2) compliance. 

e-Identity technologies for scalability and growth are being adopted, with three out of four businesses expected to use end-to-end digital platforms by the end of this period. 

eKYC Trends: 

Increased use of digital identity in services, with a surge in passive biometry. 

Wider adoption of document-free verification procedures. 

Customizable KYC processes (verification orchestration) for different customer types. 

The merging of KYC and transaction monitoring for efficient verification and compliance. 

eKYB Trends: 

The market is segmented by application, end-user, and region, with a focus on manufacturers in different regions. 

The E-KYB market has grown significantly from 2017 to 2022 and is projected to continue growing until 2030. 

Key factors include technological innovation, customer preferences, market dynamics, and the impact of COVID-19. 

Product types include cloud-based and on-premises solutions. 

Key end-user segments are banks, financial institutions, e-payment service providers, telecom companies, government entities, and insurance companies. 


  1. Digital ID: 

Target Demographic:  

General public, with a focus on adults aged 18-60 who frequently engage in online transactions, social media, and digital services. 

Key Characteristics:  

Tech-savvy, concerned about privacy and security, appreciates convenience and efficiency in digital interactions. 

Industry Focus:  

Banking, government services, healthcare, education, and e-commerce. 

  1. eSignature: 

Target Demographic:  

Professionals and businesses, especially in legal, real estate, finance, and HR sectors. The age group varies but often includes working adults aged 25-60. 

Key Characteristics:  

Prioritizes efficiency and legality in document handling, seeks to streamline workflow, and often works remotely or in a digital environment. 

Industry Focus:  

Legal services, real estate, corporate sectors, HR departments, and governmental institutions. 

  1. KYC (Know Your Customer): 

Target Demographic:  

Financial institutions, online marketplaces, fintech companies, and any business that needs to verify customer identity.  

Key Characteristics:  

Focuses on compliance with financial regulations, seeks to prevent fraud, ensures customer authenticity, and values secure transactions. 

Industry Focus:  

Banking, financial services, online trading platforms, insurance companies, and any sector requiring identity verification for transactions. 

  1. KYB (Know Your Business): 

Target Demographic:  

Banks, financial service providers, B2B companies, and regulatory bodies. 

Key Characteristics:  

Needs to authenticate business entities, ensure compliance with anti-money laundering regulations, and mitigate financial risks. 

Industry Focus:  

Banking sector, financial regulators, large corporations engaging in B2B transactions, and compliance-focused companies. 


Onfido, with $200 million in investments, Ondato, with $15 million, and ShuftiPro, also with $15 million, are among the key competitors in the global market, with a significant presence in the EU. While state-owned eSignature platforms exist, their solutions are generally not as advanced. In contrast, rTrust is in the process of offering a more extensive range of products and services. This includes eCommerce solutions, integrated payments, readily available verified IDs, streamlined check-in and check-out processes, and virtual post services, which significantly enhance its competitive edge. Furthermore, our strategy involves partnering with local entities in these regions to offer our products through local networks and support, ensuring a more tailored and regionally focused approach. 

  1. OPN 


TX (United States 2nd part of the year) 


Real Estate 


SOM: $220 billion, Market share: 10% 




Despite the real estate sales brokerage industry being valued at over $220 billion in 2023, and the increasing number of properties in the U.S., brokers still face challenges in generating income. This is partly due to government regulations designed to lower costs for buyers and sellers. The time needed to complete a deal, from property valuation to closing, is also extending, making the business less profitable without technological solutions. These solutions could generate hot leads or allow job delegation to nearby agents, saving time and investment. Given these challenges, brokers are actively seeking digital tools to reduce their costs and increase potential earnings. 


The target consumer demographics encompass a diverse range of professionals and businesses in the real estate and home improvement sectors. On one side, this includes real estate agents who specialize in services like property showings, hosting open houses, and managing deal closings. Additionally, it covers professionals involved in various aspects of real estate transactions and property management. On the other side, the target demographic extends to a variety of businesses integral to the home buying and maintenance process, including mortgage companies, insurance firms, general contractors, home and office furniture stores, interior designers, landscaping companies, and home inspection services. This broad spectrum represents a comprehensive array of stakeholders in the property market and related industries. 


Showami: Showami is a platform that connects buyer’s agents with showing agents to show properties when the buyer’s agent is not available. The service aims to help agents maintain their client relationships, commissions, and work-life balance while ensuring that buyers can still view properties. 

Valia: Valia is a platform that connects buyer’s agents with showing agents to show properties when the buyer’s agent is not available. 

Quikshow: Quikshow is another platform that provides a way for buyer’s agents to have their buyers shown properties when they are not available, without giving up a cent of their commission. 

  1. Strategy and Implementation 

Marketing Strategy 

  1. Digital marketing 

SEO and Content:  

Developing a robust online presence through SEO-optimized content that educates target market about the benefits and uses of our technologies. 

Content Diversification:  

While focusing on SEO-optimized content is crucial, diversifying the types of content (like infographics, videos, podcasts) can help in reaching a broader audience and catering to different content consumption preferences. 

Social Media Campaigns:  

Utilizing platforms popular in the target region to engage with both B2B and B2C audiences, focusing on tech-savvy adults and professionals with purpose of generating hot leads. 

  1. Engagement 

Influencer Partnerships and Thought Leadership:  

Collaborating with influencers and industry thought leaders who can speak authoritatively on topics related to digital ID and eSignature technologies. This can involve guest blog posts, podcast appearances, or co-hosted webinars. 

Customer Feedback and Continuous Improvement:  

Regularly collecting and analyze customer feedback to improve your products and services. This not only helps in retention but also in refining your marketing messages based on what resonates most with your customers. 

Community Building:  

Establishing and nurture an online community (through forums, social media groups, etc.) where users can share experiences, ask questions, and provide feedback, fostering a sense of belonging and loyalty to your brand. 

  1. Localized Marketing Efforts 

Cultural Tailoring:  

Adapting marketing materials to local languages and cultural nuances to resonate with the target audience. 

Local Partnerships:  

Collaborating with local influencers, businesses, and industry leaders to enhance credibility and reach. 

  1. Webinars and Workshops 

Organizing online and in-person events to educate potential clients about regulatory compliance, security features, and efficiency gains from your products. 

  1. Case Studies and Testimonials 

Showcase successful implementations with current clients to build trust and demonstrate real-world effectiveness. 

  1. Referral Programs 

Implementing referral incentives for existing customers to encourage word-of-mouth marketing. 

  1. Retention Strategies 

Provide excellent customer support, continuous updates, and value-added services to retain existing customers. 

Sales Strategy 

  1. Direct Sales 

Dedicated Sales Team:  

For each product we will employ a sales team that understands local business practices and regulations. They should approach businesses directly, focusing on sectors like banking, companies that are under our target and government organization. 

  1. Channel Partnerships 

Partnering with local (cities) and regional businesses (Albania, North Macedonia, and Montenegro) that can bundle your services with theirs, such as IT firms or business consultancies. 

  1. Online Sales 

Already developed the intuitive online platform where businesses can easily sign up for our services, emphasizing ease of use and quick onboarding. 

  1. Customized Solutions 

Offering tailored solutions to large enterprises and strategic entities, acknowledging their specific needs and regulatory requirements. 

  1. CRM and Sales Automation Tools:  

Implement advanced Customer Relationship Management (CRM) and sales automation tools to streamline the sales process, track customer interactions, and manage leads more effectively. This can help in personalizing follow-ups and maintaining relationships with potential clients. 

  1. Training and Development for Sales Team:  

Regular training sessions for your sales team to keep them updated on product advancements, industry trends, and sales techniques. This ensures that they are well-equipped to handle customer queries and effectively communicate the value of your services. 

  1. Cross-Selling and Up-Selling Strategies:  

Develop strategies for cross-selling and up-selling to existing clients. By analyzing customer needs and usage patterns, you can offer additional services or upgrades that complement their current setups. 

  1. Strategic Pricing Models:  

Consider implementing flexible pricing models to cater to a wide range of clients, from small businesses to large corporations. This could include tiered pricing, volume discounts, or bundled offers. 

  1. Customer Success Teams:  

Establish dedicated customer success teams to ensure clients are achieving their desired outcomes using your services. This approach helps in building long-term relationships and can lead to referrals and repeat business. 

  1. Participation in Trade Shows and Industry Events:  

Actively participate in trade shows and industry events relevant to your target sectors. This provides an opportunity to showcase your products, network with potential clients, and stay updated with industry developments. 

  1. Feedback Loop Integration:  

Incorporate a feedback loop in your sales process. Collecting feedback from both successful and unsuccessful sales interactions can provide valuable insights for continuous improvement of your sales strategy and product offerings. 

  1. Organization and Management Team 

Organizational and Diagram of the RENER’s structure. 

Fig. 1. Organizational structure 

Management Team and their backgrounds 

Strategic management and supervisory board 

  1. Gazmend Selmani, Chairman of the board 
  1. _______________, [Business Development Tech Savvy] Board member 
  1. _______________, [Fundraising consultant tech savvy] Board member 
  1. _______________, Risk committee 
  1. _______________, Internal auditor 

Executive team 

  1. _______________, CEO 
  1. _______________, CFO 

Supporting team 

  1. _______________, CLO 
  1. _______________, HR 

Sales and customer support team 

  1. _______________, Sales and Marketing director 
  1. _______________, Director of Common Services 
  1. Donita Hyseni, VERPO Sales team 
  1. _______________, eWaiter Sales team 
  1. _______________, mRep Sales team 
  1. _______________, rTrust Sales team 
  1. _______________, OPN Sales team 
  1. _______________, Bespoke software service 
  1. Krenar Berisha, Head of Marketing team 

Engineering team 

  1. Muhamet Behrami, CTO 
  1. Edon Zeqiri, VERPO dev team 
  1. Shpetim Beqiri, eWaiter dev team 
  1. Qendrim Imeri, mRep dev team 
  1. Leonis Poroshtica, rTrust dev team 
  1. Serafina Berbatovci Durmishi, OPN Sales team 
  1. Financial Plan and Projections 

Historical Financial Data: For existing businesses, include income statements, balance sheets, and cash flow statements for the last 3-5 years. 

Prospective Financial Data: Five-year forecast for income, balance sheets, cash flow statements, and capital expenditure budgets. 

Analysis: Break-even analysis, scenario analysis, and risk analysis. 

Yr. Total 2024 Total 2025 Total 2026 
Income statement     
 mRep         77,844.00       176,646.00         179,640.00  
 rTrust         77,844.00       176,646.00         179,640.00  
 RECTEC         84,036.00       255,684.00         427,332.00  
 VERPO         12,032.91       165,850.48         678,260.25  
OPN 0.00 0.00 0.00 
 Bespoke service         90,000.00         90,000.00           90,000.00  
 CoGS           6,000.00           6,000.00             6,000.00  
Gross incomes       335,756.91       858,826.48      1,548,872.25  
 Salaries        317,850.00       399,000.00         515,397.20  
 Bonuses         15,892.50         19,950.00           25,769.86  
 Contributions          16,687.13         20,947.50           27,058.35  
 Health insurance            4,860.00           4,860.00             4,860.00  
 Rent         24,000.00         24,000.00           24,000.00  
 Utilities          12,000.00         12,000.00           12,000.00  
 Vehicles lease            7,200.00           7,200.00             7,200.00  
 Fuels           2,400.00           2,400.00             2,400.00  
 Marketing         37,763.54         77,482.65         146,487.22  
 Amortization            9,000.00           9,000.00             9,000.00  
 Others         13,676.43         17,305.20           23,225.18  
Total Expenses       469,557.42       594,145.35         797,397.82  
P & L before Taxes –    133,800.51       264,681.13         751,474.43  
 Tax on Profit                       –           26,557.87           75,147.44  
Net P & L –    133,800.51       238,123.26         676,326.99  
Cash balance –    133,800.51       104,322.75         780,649.73  


The provided projections solely encompass sales forecasts within Kosovo’s market, excluding revenue from OPN, fundraising costs, rTrust incomes from the private sector, and transaction fees from mRep. 

Based on the business’s performance and applying an industry-standard coefficient of 8 times EBIDTA, the expected valuation after the third year is estimated to be €6,083,795.431

Funds required for Securing Series, A Funding are not incorporated. It is expected to cost around $150,000, including bonuses + 0.5% – 5% equity. 

  1. Funding Request 
  1. Current stage 

The investment from PBC enabled us to successfully finish developing our products and make them ready for full operational deployment. To date, €400,000 has been invested, comprising €150,000 in equity investments and €250,000 in convertible bonds. 

As illustrated below, having completed this crucial phase, we are now pursuing early-stage venture capital to propel further expansion.  

Fig. 1. Startup development phases 

  1. Current Funding Requirement 

As we embark on our next phase of growth and development, we are actively seeking a funding amount of €450,000. This capital injection is crucial for advancing our strategic initiatives and achieving our key business objectives. 

  1. Investment rationale and potentials 

This investment will be allocated towards operational expenses (€165,000), reserve funds (€35,000), and repayment of existing convertible debt (€250,000). 

  1. Detailed rationale: 
  1. Operational Expense Allocation (€165,000) 

Comprehensive Coverage: Includes salaries, bonuses, contributions, health insurance, rent, utilities, vehicle leases, fuels, marketing, amortization, and contingencies. 

Strategic Importance: Essential to maintain a competitive workforce, ensure operational efficacy, and expand market reach. 

  1. Reserve Fund (€35,000) 

Risk Management: Offers a financial buffer to manage unforeseen events, ensuring business continuity. 

  1. Convertible Debt Repayment (€250,000) 

Financial Health: Repaying this debt enhances the company’s creditworthiness and investor appeal. 

  1. Expected Outcomes and Strategic Goals: 
  1. Achieving Break-even Point: 

Operational Self-sufficiency: The additional funds is expected to support the company until it reaches its break-even point, a crucial milestone for financial independence. 

  1. Long-Term Financial Stability: 

Debt Management: Clearing convertible debt solidifies the balance sheet, enhancing investor confidence. 

Reserve Utilization: Ensures the company’s resilience in navigating market uncertainties. 

  1. Market Penetration and Growth: 

Growth and market deployment: The additional investment is not just a cost, but an enabler for growth. With the developed SaaS platforms, the company is at a critical stage where it needs to invest in its operations to capture market share and generate revenue. 

Risk mitigation: Having a reserve fund is a prudent financial practice, providing a safety net against unforeseen challenges. 

Scalable Business Model: The SaaS platforms are designed for scalability, tapping into diverse market segments and user needs. 

  1. High-Value Exit Potential: 

Projected Exit Valuation: With strategic execution, there is a high likelihood of achieving an exit valuation exceeding €6 million. This potential is grounded in the company’s innovative technology, market positioning, and scalable business model. 

Investor Return: Such an exit offers an attractive return on investment, highlighting the lucrative opportunity for current and prospective investors 

  1. Equity offering and calculations ground
  1. Overview 

Future Valuation Projection:  

€6,083,795.43 (based on financial projections with a coefficient of 8 times EBITDA after three years). 

Simplified Current Pre-Money Valuation:  

€3,041,897.72 (estimated by halving the future valuation, considering the present market conditions and risks). 

Investment Objective:  

Raising €450,000 for business growth and debt repayment. €250,000 to repay convertible debts and €200,000 to deploy and market our SaaS platforms, driving growth and profitability. 

  1. Equity Calculation Scenarios 

Option 1 

Full Investment Amount (€450,000) 

Post-Money Valuation:  

€3,491,897.72 (current valuation plus full investment). 

Equity Offered: 12.89% of the shares. 

Option 2 

Investment for Growth Only (€200,000) 

Post-Money Valuation: 

€3,241,897.72 (current valuation plus investment for growth). 

Equity Offered: 6.17% of the shares. 

Calculating formulas 

Scenario 1 (Full Investment Amount):[ \text{Equity Percentage} = \frac{450,000}{3,041,897.72 + 450,000} \times 100% ] [ \text{Equity Percentage} = \frac{450,000}{3,491,897.72} \times 100% ] [ \text{Equity Percentage} \approx 12.89% ] 

Scenario 2 (Investment for Growth Only):[ \text{Equity Percentage} = \frac{200,000}{3,041,897.72 + 200,000} \times 100% ] [ \text{Equity Percentage} = \frac{200,000}{3,241,897.72} \times 100% ] [ \text{Equity Percentage} \approx 6.17% ] 

  1. Returned investment  

If the investor want to sell shares after three years as much as RENER achieves projected financials, then expected earnings are as below: 

Dividends from the second year: €30,694.08 

Dividends from the third year: €87,178.54 

Incomes from selling 12.89% of the shares: €784,201.23 

The total earnings are expected to be €334,201.23, or 20.89% per year. 

Calculations are made for 12.89% owner 

  1. What next and Exit Strategy – Roadmap to Public Listing 
  1. Strengthening Financials and Business Model 
  • Revenue Growth:  

Amplifying revenue from our SaaS products and custom software services. 

  • Financial Transparency:  

Prioritizing accurate and transparent financial reporting, a critical aspect for public companies. 

  1. Scalability of Products 
  • Demonstrating the scalability of our innovative SaaS platforms to attract public market investors. 
  1. Corporate Governance and Compliance 
  • Strong Board of Directors:  

Assembling a board with seasoned members experienced in public companies. 

  • Regulatory Compliance:  

Ensuring adherence to all relevant laws, with a focus on data privacy and cybersecurity. 

  • Internal Controls:  

Enhancing internal controls for ethical business practices and risk management. 

  1. IPO Readiness Assessment 
  • Expert Advisors:  

Collaborating with financial and legal experts in IPOs. 

  • Valuation Exercise:  

Conducting comprehensive company valuation to determine market potential and growth prospects. 

  1. Market Positioning and Storytelling 
  • Branding:  

Establishing a solid market position and reputation as an innovative tech leader. 

  • IPO Narrative:  

Crafting a compelling IPO story that highlights RENER’s growth trajectory, market opportunities, and future vision. 

  1. Pre-IPO Funding and Investments 
  • Series A Funding: 

Targeting successful Series, A rounds to bring in value-adding investors. 

  • Strategic Partnerships:  

Forming alliances to bolster market presence and credibility. 

  1. Public Listing Preparations 
  • Stock Exchange Selection:  

Choosing the appropriate exchange (Nasdaq, London, etc.) for our IPO. 

  • IPO Roadshows:  

Engaging potential investors through impactful roadshows. 

  1. Post-IPO Strategy 
  • Investor Relations:  

Maintaining robust communication and delivering on promises. 

  • Growth and Innovation:  

Continuing our trajectory of innovation and market expansion. 

  1. Timeline and Milestones 
  • Outlining a detailed IPO timeline, including key steps from financial preparation to the actual listing. 
  1. Risk Management 
  • Proactively identifying and planning for market, regulatory, and competitive risks. 

Commercial receipts, their types, advantages and disadvantages

What are commercial receipts?
A commercial paper is a short-term, unsecured debt instrument issued by businesses. It is usually used to finance short-term obligations such as wages, accounts payable, and inventory or goods for sale (Baklanova, et al., 2020).

The commercial receipt specifies an amount of money that must be returned by a certain date (maturity). The minimum value of commercial receipts is usually $100,000, while maturity or repayment terms range from 1 to 270 days (Baklanova, et al., 2020). On average, the turnaround time is 30 days (Hayes, 2022).

How do commercial receipts work?
The commercial paper was first introduced about 150 years ago, when New York merchants began selling their short-term obligations to brokers in order to have sufficient capital to cover short-term obligations.

Selling agents, or brokers, buy the paper (also known as a bill of exchange) at a discount from face value, otherwise known as the “Par” value. They then sold the paper to banks and other investors. Traders paid investors an amount equal to the face value. For example, they would take a commercial receipt for a few percent less and sell it for the value described on the receipt.

A commercial paper is not backed by any form of collateral, making it unsecured debt. It differs from asset-backed commercial paper, a class of debt instruments secured by assets chosen by the issuer (Hayes, 2022). However, it remains at the discretion of the parties to the transaction how they wish to handle and secure their contractual relationship.

In any case, commercial receipts are issued only by companies with high ratings from credit rating agencies (Hayes, 2022). These companies can find buyers easily, without having to offer a significant discount for issuing debt. Buyers of commercial receipts are usually other corporations, financial institutions and wealthy individuals (Baklanova, et al., 2020).

Types of commercial receipts
There are four types of commercial receipts: bills, drafts, checks, and certificates of deposit (CDs) (Hayes, 2022).

Bills of exchange
Promissory notes are debt instruments written by one party to another, promising to pay a specified amount of money by a specified date. Bills of exchange are a common way of issuing commercial receipts.

A draft is a written agreement between three parties: a bank, a payee and a payee. The bank instructs the issuer of the commercial receipt to pay the lender (payee) a specified amount of money at a specified time. A draft is a written agreement between three parties: a bank, a payee, and a payee. The bank instructs the issuer of the commercial receipt to pay the lender (beneficiary) a specified amount of money at a specified time.

Checks are paid at the bank’s request, not by time. They are the fastest way to issue commercial receipts. For this type of commercial receipt, the issuing company instructs the bank to give the recipient a certain amount of money at a certain point in time.

Certificates of deposits
Certificates of deposit are monetary documents through which the bank claims to have received a sum of money deposited by an investor. The bank agrees to return this money as well as interest at a certain time in the future. The certificate specifies the interest rate and maturity date.

Advantages of commercial receipts
The main advantage of commercial paper is that they do not need to be registered with the Securities Exchange Commission (SEC), as long as the maturity does not exceed 270 days. This makes them a simple means of financing. Although maturities can take up to 270 days before entering the SEC’s jurisdiction, commercial paper maturities average about 30 days (Hayes, 2022).

The trade receipt is also easier to handle, compared to the effort, time and money involved in getting a business loan. It offers issuers the advantage of lower interest rates, while offering investors a low risk of default. Trading receipts provide an effective way of portfolio diversification.

Shortcomings of commercial receipts
Companies must have extremely good credit (credit) to issue commercial receipts. So, not all businesses have the option of issuing them. Furthermore, the proceeds from this type of financing can only be used for current assets or inventories. They are not allowed to be used for fixed assets without the involvement of the SEC (Hayes, 2022).

Low interest rates for issuers mean low rates of return for investors. Also, due to their considerable value, receipts tr

equity is not readily available to smaller investors. However, they can invest indirectly through companies that buy commercial paper.

Commercial receipts versus bonds
Both are debt instruments. However, there are important differences between them. Commercial receipts have a maturity of one to 270 days, while bonds have a maturity of one to 30 years (CFI Team, 2022)

The commercial receipt has no periodic payments. Everything is paid in one payment at maturity (Hayes, 2022), whereas bonds pay interest at regular intervals (Parker, 2022).

An example of a commercial receipt
Assume that a construction company is looking for short-term funds to finance the supply of construction material. The company needs 100,000 euros. It offers investors commercial receipts with a nominal value of 105,000 euros. When the commercial paper matures, investors receive an interest payment of €5,000 along with the €100,000 they lent. This is equivalent to an interest rate of 5%. This interest rate can be adjusted in relation to time, depending on the number of days for which the commercial receipt is unpaid (Outstanding).

Is a trade receipt a type of debt?
Yes. Commercial paper is short-term and (un)secured debt issued by institutions that want to raise the necessary capital for a short period of time. It is an alternative to taking out a business loan.

Who are the main buyers of commercial receipts?
Due to the considerable amount of emissions, the main buyers of commercial receipts are large institutions. According to the SEC, these institutions include: investment companies, retirement savings funds (Retirement accounts), state and local governments, financial and non-financial institutions (Baklanova, et al., 2020). Individuals can also be purchasers of commercial receipts.

How do individuals invest in commercial paper?
Since the minimum investment amount is usually not small, the best way to invest in commercial paper for investors with smaller amounts is to put money in companies that buy commercial paper. This includes money market funds, mutual funds and “Exchange-traded funds” (Hayes, 2022).

Commercial paper is unsecured debt with a short maturity (up to 270 days), issued by companies with a high credit rating. It offers a more profitable opportunity to raise funds to pay short-term expenses, compared to taking a business loan.

Commercial paper can also be more profitable for issuers because of the low interest rate and quick maturity. Although this rate is not always as attractive to investors, it can have a higher return than that offered by some bonds (eg Treasury Bills) (Hayes, 2022). Also, it is an investment option that can help diversify the portfolio.

Commercial paper can be seen as a low-risk investment, due to the high credit rating of the issuers. However, it should be borne in mind that like any other investment, it also involves a degree of risk (Hayes, 2022).

Securities and their financial importance

Securities are exchangeable and tradable financial instruments used to raise capital in public and private markets. Commercial companies or companies as they are known in the jargon use financial instruments for raising capital for investment purposes.

According to Kosovo legislation, there are three types of securities: shares, which provide the holders with ownership rights in the trading company, bonds or borrowing and bonds convertible into shares. The sale and purchase of securities can be done according to a public or private process.

What are shares and why are they issued?
Shares are financial instruments that represent ownership of a portion of the corporation or company that issued or sold them. They provide the owner with a proportional participation in all the company’s property, which is determined by the number of shares he bought out of the total number of shares sold, throughout the period.

Corporations or companies issue or sell shares to raise capital so that they can then invest in new products or services or expand their business.

There are two main types of shares: common or common and preferred or privileged. The rights and benefits of shareholders are determined depending on the type of shares he owns and the company’s charter. Preferred shares are usually issued, which have priority in dividends compared to ordinary shares. Newly established companies or as they are otherwise known as start-ups have the right to issue or sell shares. For all types of companies, the evaluation of the companies is done before the issue, respectively before the sale and purchase of shares.

What are the advantages and risks of investing in stocks?
The advantages of investing in shares are that the investor does not need to deal with early and laborious processes of establishing the company, especially when the risk of failure is greater. Another advantage is that the shareholder of a company does not necessarily have to work in the company in which he has invested. He can be a shareholder, not work even a day in the company he invested in, but enjoy the net annual profit in proportion to the amount of shares he holds. Otherwise, these incomes are also known as passive incomes. In addition to income from dividends or the annual profit of the company, the owner of the shares also enjoys income at the time of their sale. An investor who has funds and invests them in a business can earn more than a traditional deposit. In addition to the opportunities for making profits, if the business in which the shareholder has invested, if the business does not turn out to be successful, the business may not generate profits or may even create financial losses. In such cases the investments may be lost or the value of the shares may fall.

From the point of view of the issuer or seller of shares, the advantage of issuing them is that the money does not need to be returned, as in the case of obtaining loans or other loans. The stock seller exchanges a portion of his ownership for the amount of money he receives in the name of the stock. All this, according to the value of the business it holds. But, on the other hand, it is very important that the business adheres to the investment plan in order not to expose itself to the risks of business failure, in which case all shareholders will suffer. This is where investment advice and supervision, usually provided by an investment advisor, plays a very important role.

What are bonds (borrowing) or bonds and why do companies issue bonds?
Issuing bonds is one way companies can raise capital. A bond (debt) works like a loan between an investor and a company. The investor (which can be an individual or a business) agrees to give the company a certain amount of money for a certain period of time. In return, the investor receives periodic interest payments. When the bond reaches its maturity date, the company repays the principal or original debt amount. The investor can request a guarantee from the borrower as much as he or an independent appraiser deems equivalent to the property he invests and keep it until the day of return, or sell it in case of non-return of the debt. An investor who has funds and lends them to a business in exchange for a valid guarantee pre-supposed to earn more than it earns from traditional deposits.

What are the advantages of bonds versus other methods of raising capital?
In most cases, borrowing from a bank is the first thought for those who need money. The question arises: “Why would a company issue bonds (securities loans) instead of taking a loan from a bank?”

Issuing bonds is often more profitable than borrowing from banks because the interest rate companies pay to bond investors

eve is usually lower than the interest rate offered by banks and the possibility of returning the principal (principal) at maturity enables the funds to be kept in circulation throughout the period. Companies can continue to issue new bonds as long as they can find willing investors, without affecting the company’s ownership or how it operates. This makes bonds more favorable than stocks.

What are Bonds convertible into shares and what are their advantages?
These bonds start out the same as other bonds, but offer investors the option of converting the bond into a predetermined number of shares.

Conversion from bond to stock can be done at certain times during the life of the bond and is usually at the discretion of the bondholder.

Convertible bonds are a flexible financing option for companies. Companies benefit, as they can issue bonds at lower interest rates than traditional bond offerings. In turn, such conversions enable investors to benefit from rising stock prices.

You can apply for the issue of shares or bonds by visiting

As soon as you log in, the “Increase capital with shares or bonds” window appears. Click “Apply”, then fill in the required fields. After filling in your details, click “Apply” again.


IBAS closes the round of selling shares – 11,540 shares are bought

In less than two months since IBAS, for the first time in Kosovo, opened the public call for the purchase of shares, it managed to sell 11,540 preference shares out of 8,000 issued or 144.25% of the target. Translated into financial values, it captures the amount of 577,000 euros. The high demand for the purchase of shares in IBAS proved once again that the IBAS era has already arrived.

Today, IBAS closes the round of fundraising through the sale of preferred shares, thus closing another success, one of many to come.

The personnel of IBAS thanks all the shareholders and assures them that this investment will accelerate the implementation of the vision and the increase of competitiveness in the market. He also thanks those who expressed interest, but who failed to buy the shares because they could not provide the documentation required by the regulator (Central Bank of Kosovo) within a reasonable period of time.

Seeing the great interest of the citizens, IBAS assures the general public that there will be other opportunities in the near future to join the IBAS era and the next innovations that are coming.

We recall that the international experts of “Merge & Acquisitions” based in Brussels have assessed the financial institution IBAS with 25.6 million euros. Find out more about IBAS at

Why is investing in IBAS the right thing to do?

IBAS (Innovative Banking and Attractive Solutions) as a financial institution has already proven its success. For less than 2 years of operation, IBAS alone has digitized about 1,800 payment points, in addition to less than 7,000 in all of Kosovo, digitized by the entire banking sector, together. This process will continue until the full digitization of the payment market. For about a year since the launch of loans for payments, IBAS has received and examined close to 3,000 applications and has financed a significant number of them. It has been valued at 25.6 million euros by international “Merge & Acquisitions” experts based in Brussels, and has clear goals and a well-founded business plan to quintuple this value within the next 3-5 years. Finally, it is developing the technology that enables the realization of digital payments without a card, without a smartphone, without a smart watch, without biometric signs and without funds, if this is necessary, and for this, it has submitted an international patent application in London.

What is IBAS?

IBAS is a financial institution licensed by the Central Bank of Kosovo for the issuance of electronic money and lending for payments. Such institutions, around the world, are also known as Digital Banks (English Digital Bank) or Neobanks, which mean the provision of significant banking services, through online technology and not through physical offices or traditional branches.

IBAS today and tomorrow?

IBAS today offers the service of digital payments between the payer and the payee. As an effective and efficient alternative to payments through bank cards and traditional POS, IBAS has developed the latest technology that enables the smartphone to play the role of the card, while the QR code, placed on a paper, on a smartphone, or on a computer to play the role of POS. For payment receivers who are not IBAS customers, they can accept payments in any bank account, local or international. For those in need, IBAS offers loans for payments up to 100,000 euros, with a record review period and treatment flexibility.

Tomorrow, IBAS will offer the service of HCE or Google Pay and Apple Pay that enables the connection of any Mastercard and Visa card with your phone in order to make the payment in any store in the world. In addition, it will also offer international bank accounts (IBAN) (of the United Kingdom or the European Union), offering its customers all the privileges and benefits of such accounts, including accepting payments from PayPal and similar platforms and transferring money or remittances, such as within the EU and the UK.

Where does IBAS operate?

Currently IBAS operates in the Republic of Kosovo and within 3-5 years will start operating in Albania, North Macedonia, Montenegro and Bosnia.

What do I earn if I invest in IBAS?

From the first day of your capital increase approval from the Central Bank of Kosovo from your investment, you are entitled to dividends from the day you acquire shareholder status. Of course, as with any other business, annual performance depends on many factors that affect annual profits/losses. However, IBAS has developed highly effective methodologies for managing such fluctuations. On the other hand, in addition to the profits from the dividend, you are also expected to earn with the increase in the financial value of IBAS.

How and when can I invest in IBAS?

In accordance with Article 10 of the IBAS charter approved by the Central Bank and the Business Registration Agency at the Ministry of Industry, Enterprise and Trade, and the Law on Commercial Companies, IBAS has issued 8,000 series A preferential shares in the monetary amount of 400,000 Euros. . The price per share is 50.00 euros.

You can buy these shares, or part of them, by visiting and following the instructions on this path:

The minimum investment amount is 5,000 euros.

After applying for the purchase of shares and sending the documents, you will be invited for further discussions with the management of IBAS, the contract will be signed and then the relevant documentation will be forwarded to the Central Bank of Kosovo for review and approval. This period can last up to 3 months.


No issued shares will be transferred under the ownership of the buyer if the same is ineligible, according to the legislation in force of the Central Bank of Kosovo, or has a criminal past or is suspected of having a criminal past and if the same fails to document the origin of legal money, according to the request of the Central Bank of Kosovo and has not completed the full payment of the shares.

If you need support or other information, direct your request to [email protected] and you will receive an answer within a day.

Can I sell my shares in IBAS?

Yes, each holder of preferential shares can sell the shares to IBAS sh.a. or resell them to any party that qualifies as appropriate, according to applicable legislation. This was preceded by the notification to IBAS, for a period not less than three (3) months, in order to evaluate the price of the shares and develop the sale procedures. The sale of shares by the shareholder will only occur if the parties agree on the market price. Otherwise, the shares remain owned by the holder of the preferred shares. The re-initiation of the sales process can only happen 3 (three) months after the preliminary initiation.

Success stories for institutions like IBAS

In recent years, the digitalization of the financial industry, especially the banking sector, has taken a very dynamic leap and has successfully managed to create a new era. All this with the aim of eliminating barriers in this industry and maintaining and increasing the benefits of physical and legal citizens. In the wake of this, the European Union has issued various legal norms, one of the most important of which is PSD (Payment Service Directive) 2, which,among other things, it defines the security conditions and obligates the electronic interconnection of financial institutions among themselves, in order to provide PIS (Payment Initiation Service) and AIS (Account Information Service), functions that enable customers of a financial institution to perform transactions with another institution’s technology. Most countries that are not part of the European Union have enacted similar laws and/or regulations to create a legal environment similar to that of PSD2. From this legal and technological spirit and from the attractiveness of the industry, many institutions have been developed, and some of the most popular are: Monzo, which operates in England and is valued at 4.5 billion dollars; Starling, which operates in England and is valued at $3.4 billion; N26, which operates in the European Union and is valued at $9 billion; Revolut, which operates in the European Union and England and is valued at 33 billion; Swish payment based in Sweden and Viva wallet based in Greece, which after a gradual investment of 900 million with a coefficient of 9 has sold 49% to JP Morgan. We remind you that none of these institutions, despite the capacities they have, enable the realization of digital payments without a card, without a smart phone, without a smart watch, without biometric signs, as IBAS will do.

For the first time in history, IBAS will enable digital payments without a card, phone or other means, but also without funds

For the first time in history, IBAS will enable digital payments without a card, phone or other means, but also without funds

The unique idea has been initiated for patenting in London and is expected to be applied in the financial industry worldwide.

“Last week, in London, I submitted the patent application for “Toolless payment solution”. Thanks to this innovation, for the first time in history, people will be able to make digital payments without a card, without a phone, without a watch, without jewelry, without biometric signs and without funds, if necessary,” stated the founder and solution architect of IBAS, Gazmend Selmani.

The innovation that IBAS will bring aims at a complete independence of payers from equipment, but also from the lack of availability of funds. Something that so far has not existed, anywhere in the world.

3 couples will receive a free Valentine’s dinner from IBAS and its partners

In the beautiful and warm environment of the “Brasserie Proka” restaurant, two couples will have the opportunity to enjoy a FREE dinner worth up to 50 EUR. Meanwhile, in the “pizza house”, the other couple will fall in love once again, but this time with Pizza Crust food at the FREE dinner, worth up to 50 EUR.

All this thanks to the prize game organized by IBAS and its partners.

How can you become part of the game?

The moment you make payments with IBAS you will automatically become part of the rewarding game. You can make payments to any IBAS partner and with any value.

Winners will be selected on February 11th and will be notified by IBAS staff about dinner details.

Therefore, we invite you to make payments with IBAS and become part of the game. Meanwhile, you who do not have an account in IBAS can open it 24/7. If you need help, contact the number 038600300!

IBAS gives a 10 euro bonus to new customers for the end of the year

For the end-of-year holidays, IBAS has decided to reward all its customers until December 31, 2021, by giving a 10 euro bonus to each customer who activates an IBAS account. This bonus is used when making payments, deducting 1% from the total amount.

How to activate the account in IBAS?

After opening the account in IBAS and verifying your identity, in order to benefit from the bonus you must activate your account. Account activation in IBAS is done in two ways:

  1. Online through the IBAS application. This activation is done by transferring at least 1 cent from your bank account to your IBAS account. To do this, you must first open the IBAS application and click on the “fill wallet” icon. If you are a client of one of the banks that appear under the “fill the wallet” option in IBAS, then you must make a transfer within the bank, if you are a client of any other bank, then you must make a national transfer. After reading the instruction press the “copy” icon to the number of your bank account from where you start your transfer, then continue with “mBanking” or “eBanking”, then press the “transfer within the bank” button, note the account number you copied in IBAS or do “paste”, write the amount and in the description part write the phone number with which you opened an account in IBAS and finally confirm the transfer. After this action, you will receive the transfer acceptance notification.

Immediately after this process, the bonus will be transferred to your IBAS account and you will be able to use it when making payments.

  1. Physically by signing the contract at the IBAS offices. You can do this activation every working day from 8:30 to 17:00.
    You can use the bonus in all businesses and organizations that have an agreement with IBAS, at over 1000 payment points.

International experts: The value of IBAS is 25.6 million euros

Not yet completed 2 years of operation in the market, the international experts of “Merge & Acquisitions” based in Brussels, after an intensive 3 months of work, have evaluated the financial institution IBAS with 25.6 million euros.

This assessment was carried out through the “Cash flow” methodology.

WACC = 18.52%, PGR = 15%. Discount factor = 0.82, 0.68, 0.56, 0.46, 0.38.

IBAS is a financial institution licensed by the Central Bank of Kosovo for the issuance of electronic money, money transfer and lending for payments. With its activity, IBAS is creating the ecosystem of digital payments in the Republic of Kosovo. So far, it has managed to create 1,800 electronic payment points and continues to create cooperation agreements with Kosovar businesses. Although the issuance of online loans started this year, IBAS has so far received close to 3,000 applications for payment loans, the vast majority of which have been funded in record time.

For a period of 3-5 years, this institution plans to expand in the region, specifically in Albania, North Macedonia, Montenegro and Bosnia.

We remind you that this financial institution was awarded the “Innovation of the Year” award in the last edition of the ICT Awards for the innovation it has brought.

IBAS would not have reached this point of success without the professionalism of its staff and the welcome of Kosovar businesses, for which they are very grateful and thankful.

With this method of payment, residents of the Mitrovica region have a free water bill

Thanks to the agreement reached between the IBAS institution and the Regional Water Company “Mitrovica”, residents of this region can pay their water bills without additional fees. This is not the only benefit, because through IBAS they can pay from wherever they are and whenever they want.

The representative of IBAS, Safet Deliu, after signing the agreement, said that IBAS has offered the possibility of making the payment remotely and without any additional expenses.

“Through this agreement, we have enabled the residents of this region to make payments 24/7 and even without any additional provision”, he said.

Meanwhile, the chief executive officer of KURM, Bashkim Kurti, said that this agreement was made in order to facilitate the way of paying the water company.

“This contract is about the relief for the water supply customers who from now on will be able to make their payments for the water supply service bills online without any additional expenses or fees”, he said.

Payments through IBAS are made online through its application, which can be downloaded from the App Store or the Play Store. Opening, maintaining and verifying an IBAS account is free of charge.

Thank you for choosing IBAS for your banking needs!

We're thrilled to welcome you on board. In compliance with regulatory requirements, we kindly request you to download our app and commence the KYC/KYB process, which is a legal prerequisite for opening a banking account.

The process is straightforward and comes with the necessary guidance.

Experience Innovative Banking and Attractive Solutions (IBAS) to the fullest!

Choose the store for downloading the application.