Greek mobile marketing pioneer Upstream has evolved into a world-leading technology company that provides services across a range of areas. EU funding is supporting its latest research and development activities.
In spite of difficult economic conditions, Greek company Upstream is becoming a global player in the rapidly expanding market for mobile communications services. Active in 43 countries on five continents, it is essentially a multinational enterprise. It maintains its head office in Greece even though the domestic market accounts for only a small proportion of its revenue.
When it was founded in 2001 by Markos Veremis and Alexis Vratskidis, the mobile marketing sector was still at the embryonic stage. As Veremis points out, Upstream was one of the world’s first four mobile marketing companies and by the end of the 2010s, it had firmly established itself as a global leader in the field.
In 2011, it started expanding into other areas and has now evolved into a technology company which produces software and applications for the provision of online services via mobile devices. Its products range from recreational, insurance and information services to tools for learning foreign languages.
Veremis adds that Upstream has continued its expansion strategy in recent years. These efforts have been backed by €25 million in financing from the European Investment Bank, via the European Fund for Strategic Investments. The funds are earmarked for supporting research and development which will be beneficial to the Greek economy.
“European funding will be used to further improve our technological platform and the provision of innovative products, as well as to boost our ability to deal with big data,” says Veremis. “This will help us to continue to be leaders in the field of research and development, alongside our business excellence and our international expansion.”