Coimbra-based tech group Loop Future has announced the acquisition of Ovyo, a UK- and India-based digital engineering and platform management company. The deal marks a key step in Loop’s international expansion, solidifying its presence in strategic markets and boosting its capabilities.
Founded in 2021, Loop Future has rapidly evolved from a local startup into a cross-border tech group. With this acquisition, the company now operates out of Coimbra, London, and India. CEO João Bernardo Parreira says the move is aligned with Loop’s “ambitious and purposeful growth strategy” and adds that another acquisition could follow in 2024.
Backed by a €10 million investment from C2 Capital Partners, Loop plans to double its revenue to €20 million by 2025, with a target EBITDA of €3.5 million. Currently, only 25% of its revenue comes from Portugal, but the group aims to boost international sales by 2027.
Loop, which is part of Euronext’s IPOready program, doesn’t plan to go public yet — though it’s keeping that door open for the future. Its headcount, now at 220 employees, is expected to grow to 300 by the end of 2025.
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