This article is a part of Poland Unpacked. Weekly intelligence for decision-makers
Coding is just the beginning. Polish startup Giganci Programowania is preparing acquisitions, expanding its curriculum into new subjects and targeting Latin America. The company could receive up to EUR 6m from Orbit Capital to finance these plans, executives from both the startup and the fund told XYZ.
Giganci Programowania has secured access to up to EUR 6m in debt financing from Orbit Capital. The Polish education company intends to use the money primarily to acquire other edtech businesses, expand beyond coding courses and accelerate its expansion in Latin America, Dawid Leśniakiewicz, one of the startup's founders, told XYZ.
Giganci Programowania is one of the more notable success stories in Poland's startup ecosystem over the past decade. Founded in 2017 by four entrepreneurs – Dawid Leśniakiewicz, Piotr Pełka, Sebastian Lang and Radosław Kulesza – the company relied for years on its own resources and reinvested profits, an approach known as bootstrapping. In 2022, it generated PLN 17m in revenue. A year later, it decided to seek venture capital (VC) funding, first raising EUR 3.5m and then another EUR 8.5m in 2024. The capital was intended primarily to finance international expansion.
"In 2025, we entered new markets at a rapid pace. That required substantial spending to build brand recognition and acquire our first customers. In 2026, alongside further scaling the business, our goal was to become profitable. We achieved that, and we have been profitable for several months now," says Dawid Leśniakiewicz.
New funding, new approach
Rapid international expansion also brought a sharp increase in costs. The company recorded substantial net losses in 2024 and 2025. According to Radosław Kulesza, co-founder and CEO of Giganci Programowania, that period is now behind it.
"We have been profitable for several months, and we have new plans," says Radosław Kulesza.
One element of those plans is financing from Orbit Capital, a fund specializing in venture debt, a form of debt financing for growing companies. The first tranche amounted to EUR 3m. Total financing could reach EUR 6m, with subsequent disbursements conditional on Giganci Programowania meeting milestones agreed with the investor.
"We cannot disclose the details of the financing, but we believe in the company and its growth potential. The plans presented by the founders of Giganci Programowania are very interesting. By splitting the financing into tranches, the company avoids paying for capital it does not yet need. For us, it provides an opportunity to monitor whether the business is developing according to the agreed plan. At the same time, the additional financing has already been negotiated and can be accessed much more quickly when needed," explains Wiktor Namysł, managing partner at Orbit Capital.
The founders of Giganci Programowania are not ruling out bringing in another equity investor.
"We are preparing for another equity round, although we do not yet have a specific date. We are thinking more in terms of 2027," says Dawid Leśniakiewicz.
Acquisitions take priority
Acquisitions will be the main priority for the new funding. Giganci Programowania is looking for education companies that could accelerate its development in two areas: broadening its range of courses and expanding its international presence.
The company built its business around coding courses for children and teenagers, but it is increasingly moving beyond that category. It has already introduced mathematics courses, including exam preparation and one-on-one lessons. Further subjects could follow.
"We want to expand our product range, which we are already doing organically. At the same time, we want to strengthen our international position. These are the two objectives for which we intend to use the financing, primarily through acquisitions of other edtech companies," explains Radosław Kulesza.
The company intends to focus mainly on profitable acquisition targets. Giganci Programowania does not want acquisitions to reverse the progress made in 2026 and push the group back into substantial losses.
According to the company, revenue grew by approximately 80% year on year in 2025. Growth is now expected to slow but become more sustainable. Management is targeting annual expansion of around 30–40% while maintaining profitability across the group.
Giganci Programowania's changing business model
The company's business model is also evolving. Giganci Programowania started with in-person classes and expanded primarily through physical locations before the pandemic. Today, its activities have shifted decisively online. According to the company, more than 90% of group revenue now comes from online classes.
Internationally, the company operates exclusively through this model. It delivers lessons using its own organizational resources, teaching staff and infrastructure. It intends to apply the same approach as it expands into other areas of education.
Physical locations will not disappear from Poland, however. The franchise network remains a profitable part of the business, and company representatives say there are no plans to phase it out. Giganci Programowania still occasionally sells new franchise licenses and organizes educational summer camps for children.
Both activities, however, play supporting roles. The company's main focus is now firmly on online education.
What you need to know
Orbit Capital develops its second fund as Giganci Programowania kicks off an active autumn
Giganci Programowania's financing comes from Orbit Capital's second fund, which targets companies in the growth stage. The fund reached a final size of EUR 107m, with further transactions expected this autumn.
Wiktor Namysł says Orbit should announce several new investments over the coming month. The second fund already holds investments in other companies, but the Giganci Programowania transaction will be among the first announced following its official launch. It fits the fund's strategy of financing businesses that have moved beyond the earliest stage of development.
Orbit does not intend to restrict itself to equity investments. The Giganci Programowania deal illustrates its use of venture debt, a financing instrument designed for growing companies. It targets businesses with proven products and established revenue streams that need additional capital to scale more rapidly.
"This model works well when a business has already been validated, operates in several markets and has a clear path to further expansion. Additional capital can then accelerate acquisitions, marketing and customer acquisition," says Wiktor Namysł of Orbit Capital.
The fund also sees a broader shift in the Polish market. Its representatives believe that a growing number of domestic companies have reached a stage where they can seek growth financing rather than relying solely on conventional venture capital rounds aimed at early-stage startups.
"We are pleased to see more and more Polish companies reaching this stage. Poland's growth financing market has expanded. In the case of Giganci Programowania, we also have a company whose concept originated in Warsaw and can now be scaled across several continents," says an Orbit Capital representative.
Latin America gains momentum
The second pillar of the company's strategy is international expansion. For now, however, Giganci Programowania has no intention of spreading its resources across additional regions. Its priority remains Spanish-speaking markets: Latin America and the Hispanic population of the United States.
"We have already established a strong position in Spain, and a significant proportion of classes for students there were taught by teachers from Latin America. That gives us a solid foundation for expanding across the Atlantic," says Dawid Leśniakiewicz.
Giganci Programowania has opened an office in Guadalajara, Mexico, establishing a local operational base. Spanish-speaking teachers now account for approximately 30% of the company's entire teaching workforce, and around 85% of that group comes from Latin America.
The strongest argument for further investment, however, is sales performance.
"We generated USD 1m there in less than a year. That demonstrated our ability to grow in Latin American markets. Today, it is our fastest-growing region. We have established a foothold and reached our initial milestones, and now we want to accelerate further," says Radosław Kulesza.
Orbit Capital believes this is precisely the stage at which debt financing can deliver the greatest benefits. The company is no longer raising capital to test whether customers want its product, but to expand a business model that has already proved successful across several markets.
"We have a business with a proven model, and we can see demand for its offering. It works not only in Poland but also in other markets. If Latin America has proved to be a promising direction, additional financing can help accelerate both acquisitions and customer acquisition," says Wiktor Namysł.
The fund also points to the sheer scale of the region. In Orbit's assessment, a growing pool of potential customers and the expansion of the middle class in Latin American countries could increase demand for private education.
Giganci Programowania considers a name change
Expanding into mathematics and other educational subjects could bring another change: Giganci Programowania is considering a rebrand.
The company does not, however, want to abandon the brand it has spent almost a decade building. Any name change would be gradual rather than radical. One option under consideration is to retain "Giganci" while dropping "Programowania". No final decision has been made.
Internationally, the company operates under the Coding Giants brand. It is in no hurry to change that name either, although mathematics and AI-related skills are becoming increasingly important parts of its offering.
Expert's perspective
What does venture debt financing involve?
For companies in the scaling phase, venture debt can be an attractive complement to equity financing. Debt capital can finance a specific stage of development, extend a company's cash runway or increase its investment capacity without the immediate need for another equity round and the associated dilution of ownership stakes.
Venture debt is not, however, a universal alternative to equity capital. Its suitability depends primarily on a company's business model, the predictability of its revenue and its ability to service debt. In this sense, venture debt funds fill a gap between equity financing and traditional bank lending, which often fails to accommodate the characteristics and risk profiles of innovative businesses.
From an institutional investor's perspective, venture debt offers exposure to the growth of innovative companies with relatively lower risk and a more predictable return profile than equity investments. This combination of growth potential and a different risk profile was one of the reasons behind PFR Ventures' decision to invest in Orbit Capital.
We want to make this type of financing more widely available. That is why, under the Innovate Poland program, we plan to allocate 20% of our portfolio to private debt funds.
Our objective is to develop a market in which companies have a wider choice of financing sources and can deliberately combine equity and debt capital according to their stage of development and business needs.
Achieving this will require the development of specialized funds, greater awareness of this financing instrument among entrepreneurs and investors, and the ability to assess when debt financing is appropriate for a company's current needs.
Artificial intelligence is changing Giganci Programowania's approach to education
Artificial intelligence presents both opportunities and challenges for the edtech industry. Generative AI tools can write code, solve problems and explain complex concepts. This could undermine the value of some traditional educational products. Giganci Programowania is responding by redefining its educational objectives.
"Our goal is not to train the programmers of the future. We want to teach young people how to navigate the digital world consciously, safely and intelligently. It is difficult to imagine them entering the labor market in a few years or even a decade without the ability to use new technologies and AI tools," says Dawid Leśniakiewicz.
Key Takeaways
- Giganci Programowania has secured debt financing from Orbit Capital that could total EUR 6m. The money will primarily finance acquisitions of other education companies and further international expansion. The funding reflects a shift in strategy: after rapid growth and substantial losses in 2024–2025, the company is now focusing on profitability. According to management, it has been profitable for several months. Revenue grew by approximately 80% in 2025, but the company is targeting a more sustainable annual growth rate of 30–40% in the coming years. It is also considering another equity funding round, potentially in 2027.
- Giganci Programowania aims to transform itself from a specialist coding education company into a broader educational services provider. The company is already expanding its mathematics offering, including exam preparation and individual lessons, and could introduce further subjects. Acquisitions of other edtech businesses, particularly profitable companies that will not undermine the group's financial performance, are expected to accelerate this transformation. The founders are also considering a name change, potentially dropping "Programowania" while retaining the established "Giganci" brand.
- Latin America is becoming a central pillar of Giganci Programowania's international expansion and is now its fastest-growing region. According to management, the company generated USD 1m in sales there in less than a year, demonstrating the potential of its online education model. It has already opened an office and established local operations in Guadalajara, Mexico. Further expansion across Spanish-speaking markets, including among Hispanic communities in the United States, remains a key priority.