Canadian Enghouse Systems acquires Lithuanian Trafi

Canadian software company Enghouse Systems has acquired Lithuanian mobility services platform Trafi. This is an exit for Lithuanian Practica Capital, Estonian BaltCap, British Octopus Investments and European Bank for Reconstruction and Development (EBRD).

Trafi was founded in 2013 in Lithuania by Jurgis Pasukonis, Mantas Vidbaras,  Martynas Gudonavičs and Algimantas Krasauskas. The company has developed a multimodal journey-planning solution. The application suggests to users which modes of transport will be the most convenient and appropriate, taking into account real-time traffic information.

In 2013, Trafi attracted $500K from Practica Capital, in 2014 — investments from BaltCap, in 2015 — $6.5M from Octopus Investments, EBRD and BaltCap, in 2017 — $7M from EBRD and Octopus Investments.

Vilnius-based Practica Capital was founded in 2012. The firm focuses on investments in the Baltic and Baltic-origin companies in Europe.

Founded in 1995, BaltCap specializes in financing companies at different stages of development: from start-ups and early stage enterprises to established businesses. The fund supports companies in various sectors, including technology, healthcare, manufacturing and services.  BaltCap has offices in all the Baltic States, Finland, Sweden and Poland.