The growth is based on the new clients the payment processor plans to attract by the end of the year. Diana Munteanu plans to work with eight other companies while expanding the company’s reach in the region.

Credics Romania is the subsidiary of Credics Technologies, Israeli-based company specialized in payment and transaction processing tools.

The company was launched last year in Romania, when it reported revenues of €2 million.

Credics Romania also plans to expand in new markets in the region, and in the fourth quarter this year, the company will provide services with the help of Bucharest specialists to customers in Hungary and Bulgaria.

The board of Credics Technologies plans to become the leader in financial services market in Central and Eastern Europe and enter the African and US markets through already-built strategic partnerships.