Índico Capital Partners announced an investment of 5 million euros in PandaDoc, a provider of document automation software, to finance the next phase of development of features based on artificial intelligence and expand teams in Lisbon.
Founded in 2013 by Mikita Mikado and Serge Barysiuk, PandaDoc has become a platform that automates proposals, contracts and invoicing processes, having achieved unicorn status in 2021.
The company maintains a strategic European office in Lisbon, which will serve as a base for the operational growth expected with the new capital.
Mikita Mikado, co-founder and CEO of PandaDoc, sees the Portuguese venture capital firm as “the ideal partner to help us accelerate our innovation in AI”.
On the investor side, Stephan de Moraes, president of Índico, made it very clear that the support for PandaDoc fits into the fund’s strategy of enhancing the technological ecosystem in Portugal and promoting the European expansion of companies.
The investment comes in a context in which Índico launched the Indico VC Fund III, worth 125 million euros, whose first closing is scheduled for December 2025, after the European Investment Fund announced a commitment of 30 million.
The operation should accelerate PandaDoc’s innovation agenda and reinforce Lisbon as a European hub for developing document solutions with AI.