With such a budget, you may either check better strollers pre-owned, or a cheaper new option that simply won't be that awesome. A midsize forward-facing model would be your best bet here for sure.
From the cheaper ones, look at the Kinderkraft Grande or a Valco Snap if you can get your hands on one. Personally though I would look more at something like the Oyster Zero (Gravity) which is more than 200 - a second-hand Zero could also work nicely. Also look at something like the Mamas&Papas Armadillo or ABD Design Avus.
These are all flat-folding but definitely larger than the Babyzen. They are also much more upright but because of that lower weight and reasonable foldability, not totally upright either.