CFI advised iClio on the sale of minority stake to Busy Angels

Lisbon – CFI is pleased to announce it acted as the exclusive corporate finance advisor to iClio on the sale of 10% of its shares to Busy Angels.

BUSY ANGELS (www.busyangelsscr.com) promotes and invests in the development of innovative business projects in various areas of activity, industry and region, with special focus on high potential businesses at an early stage, that promise high growth but are lacking small investment funds for its start-up and mainly business management expertise.

iClio (www.iclio.net) is a Portuguese company dedicated to the conception and editing of history, heritage and culture content for the new media. Their portfolio includes Just in Time Tourist (https://jitt.travel/), an audio guide for Android and iOS, already considered one of the best touristic guides for smartphones, in addition to other audio guides for specific tourist routes.

iClio hired CFI Portugal as their exclusive financial advisor on their capital raise process. iClio opened their capital on February 2014 through a Capital Increase, also advised by CFI Portugal

The transaction closed on 31 July, 2014.