Roughly two weeks ago, Banca Transilvania, one of the most important banks in Romania, launched the online platform Stup (Hive), meant to ease access to financing and other services for entrepreneurs.

The platform, designed as a one-stop shop for business owners, also provides the digital infrastructure necessary for connecting businesses to their suppliers.

Over 1,000 accounts were open in the time since, and the first businesses propped up by the platform have already appeared. A spice retailer, an online shop for products for infants, a tourism agency, and other companies already made use of the range of services offered by Stup.

“Stup is BT’s contribution to the growth of the entrepreneurial community. It will be a meeting place, a place of ideas, where businesses will be born, but also where we come up with solutions to their needs. We want to contribute to the strengthening of Romania's entrepreneurial fabric,” said Omer Tetik, general director of BT cited by Economedia.

Banca Transilvania boasts its status as a “local bank” in Romania. It has over 18% of the market share in banking in the country, and 72% of the capital backing originates in Romania, according to its 2022 report.

radu@romania-insider.com

(Photo courtesy of the company)