What we do
The EIF in 2020
Coronavirus: The EIB Group’s initiatives to address its economic consequences
Pan-European Guarantee Fund – EGF
Institutional investors
Equity products
AI Co-Investment Facility
Climate & Infrastructure Funds
Technology Transfer
European Angels Fund (EAF) - Co-investments with Business Angels
Venture capital
The Social Impact Accelerator (SIA)
Lower mid-market
Mezzanine Facility for Growth
EFSI Equity instrument
Single EU Equity Financial Instrument
COSME - Equity Facility for Growth
InnovFin Equity
Private equity secondary market transactions
EIF-NPI Equity Platform
ESCALAR Programme
Debt products
New ESIF ERDF Guarantee Fund initiative in Greece
EFSI Private Credit Programme
AGRI Guarantee Facility
AGRI Italy Platform Uncapped Guarantee Instrument
Credit enhancement
Cultural and Creative Sectors Guarantee Facility (CCS GF)
ENSI - Securitisation Initiative
Erasmus+ Master Loan Guarantee Facility
Skills & Education Guarantee Pilot
EREM debt products
Single EU Debt Financial Instrument
Documentary Finance Facility – Bulgaria
The SME Initiative
The SME Initiative Bulgaria
The SME Initiative Finland
The SME Initiative Italy
The SME Initiative Malta
The SME Initiative Romania
The SME Initiative Spain
Inclusive finance
EaSI Financial Instruments
EaSI Capacity Building Investments Window
EaSI Guarantee Instrument
EaSI Funded Instrument
European Progress Microfinance Facility
Entrepreneurs supported through Progress Microfinance
European Fund for Strategic Investments (EFSI)
How does EIF contribute to EFSI
How to apply for EFSI financing
Regional Development - Country and sector-specific initiatives
Fons d’Inversió en Tecnologia Avançada (FITA) Catalonia
Dutch Future Fund (DFF)
Dutch Alternative Credit Instrument (DACI)
PORTUGAL BLUE: a new initiative for blue economy investments
JEREMIE Greece Reflows – Business Angels’ Co-Investment Equity Instrument
German Corona Matching Facility (CMF)
Portugal Growth programme
Croatian Growth Investment Programme (CROGIP)
AGRI Italy Platform Uncapped Guarantee Instrument
ALTER’NA – ESIF EARFD Nouvelle-Aquitaine
Baltic Innovation Fund 1 (BIF 1)
Baltic Innovation Fund 2 (BIF 2)
Central Europe Fund of Funds (CEFoF)
Croatian Venture Capital Initiative (CVCi FoF)
Competitiveness Fund-of-Funds for SMEs in Romania
The Cyprus Entrepreneurship Fund (CYPEF)
Deep and Comprehensive Free Trade Area Initiative East Guarantee Facility (DCFTA)
Dutch Growth Co-Investment Programme
Dutch Venture Initiative (DVI-II)
ESIF Fund-of-Funds Greece
EAFRD FoF Portugal
EAFRD FoF Romania
The ERP-EIF Facility
ERP-EIF Co-Investment Growth Facility
The LfA-EIF Facilities
The German Future Fund (GFF) - EIF Growth Facility
INAF – French National Agricultural Initiative
ESIF Energy Efficiency and Renewable Energy Malta
Regional Fund-of-Funds Romania
ESIF Fund-of-Funds Czech Republic
The Silesia EIF Fund of Funds
La Financière Région Réunion
The EIB Group Risk Enhancement Mandate (EREM)
Greater Anatolia Guarantee Facility (GAGF)
G43 - Anatolian Venture Capital Fund Project
InvestBG Equity Instrument
Romania Recovery Equity Fund of Funds
JEREMIE Romania Reflows – Equity Instrument
Luxembourg Future Fund (LFF)
Mezzanine 'Fund of Fund' for Germany (MDD)
Polish Growth Fund of Funds (PGFF)
Portugal Venture Capital Initiative (PVCi)
Scottish-European Growth Co-Investment Programme
Slovene Equity Growth Investment Programme (SEGIP)
Swedish Venture Initiative (SVI)
Turkish Growth and Innovation Fund (TGIF)
Western Balkans Enterprise Development & Innovation Facility (WB EDIF)
EAFRD FoF Greece
Irish Innovation Seed Fund (IISF)

Novoville: powerful cities, empowered citizens


“Our mission is to help make citizen voices heard, and government services more citizen-centric,” says Iraklis Bourantas, COO and co-founder of Novoville.

Novoville was founded in 2016 in response to the growing need for more participatory, accountable, transparent, efficient and inclusive local governance. As Iraklis explains, it all started - like many companies - with a personal frustration: “Like so many people in Athens, we were frustrated by simple things like seeking information or reporting a broken bench… Initially we set up a problem reporting tool. We tried it, tested it, re-designed it, re-worked it…and within 3 years it grew, we added more functionalities and here we are today. The municipality of Athens is now one of our biggest clients…”

Novoville is a comprehensive citizen engagement platform for local governments that covers all sorts of services such as e-frontdesk services, consultation and communication, payments and smart parking. “You can request a birth certificate, pay a parking ticket or utility bills or report problems,” Iraklis says, “and the authorities can use the service to communicate with citizens. If the municipality has an important message to send to its residents for example, like a road closure, it can do so instantly using the app, or by sms or email – depending on how the citizen wants to be reached. Obviously GovTech is a difficult field, with complex procurement issues and political pressures. It’s not easy to disrupt it. But when we are able to show results, and the wow-factor comes into play, things change,” he adds. “People ask themselves ‘really? In my municipality?’ and they feel a sense of local pride. This boosts engagement.”

Where more traditional consultation exercises can only garner a few dozen responses, Novoville’s user-centric approach and effective outreach efforts can get several thousand replies – in a fraction of the time. “It brings the citizen and local authorities closer together. It saves paper, man-hours and frustration. Ultimately, it optimises workflows and increases engagement, which can only be a good thing, but it also gives citizens a feeling that they are able to participate and influence things around them.”

In November 2018, Novoville closed a second round of funding which included an important investment from Uni.Fund and Venture Friends, both venture capital firms backed by the EIF. This funding allowed Novoville to boost R&D, doubling its personnel, and focus on sales and market expansion – particularly in the UK – as the company now starts to scale up operations. “Most of our work right now is in the UK and Greece – with 45 municipalities already using our products. But we’re running pilot projects in Belgium and Switzerland, two countries with very different realities at the level of local government. We’re looking to expand, but at the same time, we’re also trying not to bite off more than we can chew,” he adds.

If things go to plan, you might find yourself receiving an sms from your municipality telling you to “please move your car”. Assuming, that is, that they opt for warning before the fine… And don’t say you never park badly.


Type of business: ICT

EIF financing: Equifund

Financial intermediary: Uni.Fund , Venture Friends 400W

For further information abiout EIF intermediaries in Greece, please refer to:


We use cookies to give the best browser experience on our website. or change cookie settings.

Note: Following the recent withdrawal of the United Kingdom from the European Union, we are updating the relevant EIF.org pages.


Copyright ©

 European Investment Fund   – The European Investment Fund is not responsible for the content of external internet sites.