Portugal's OutSystems eyes rapid expansion after securing funding: CEO


LISBON (Reuters) – OutSystems, one of Portugal’s biggest technology start-ups, is confident of retaining its leading position in the fast-growing market for applications built with minimal coding after receiving $360 million in funding this year, its CEO said.

Paulo Rosado, Chief Executive Officer of OutSystems, attends an interview with Reuters during the Websummit in Lisbon, Portugal November 7, 2018. Picture taken November 7. 2018. REUTERS/Rafael Marchante

The funding has renewed attention on Portugal’s growing tech scene as it shows there are more so-called unicorns, or start-up companies valued above $1 billion, in the country after online retailer Farfetch launched an IPO abroad this summer.

OutSystems, which operates in more than 50 countries and runs a platform allowing software developers to build web and mobile applications without traditional coding, announced the investment from U.S. firm KKR and Goldman Sachs in June.

“It’s going exactly as…

Read the Full Story here