Okredo closed a €1 million seed funding round led by the Lithuanian Business Angels Fund and Presto Ventures

Okredo, a Vilnius, Lithuania-based operator of an open data marketplace platform, announced that it secured a €1 million ($1.1M) seed funding round.

The money was raised from investors led by the Lithuanian Business Angels Fund and Presto Ventures, with support from Startup Wise Guys as well as undisclsoed angel investors.

Proceeds will be used to expand into new European markets, amidst a backdrop of growing regulatory support for open data.

Okredo, founded in 2015 by Dalia Mazeikaite, Gerda Jurkoniene and Jaunius Skierus, developed an open data platform sold as a SaaS and helping SMEs assess the credibility, financial strength and sales potential of new and existing business partners and customers.