HansaMatrix receives 5.3 million EUR financing from SEB bank

HansaMatrix group has signed factoring agreements with SEB līzings for one year in the aggregate amount of 2.76 million EUR to be used for working capital financing, including export transactions. In addition, SEB Latvia has approved 2.5 million EUR long-term financing limit for HansaMatrix, planned to be used for investments in 2019.

The investments are expected to support the company in its ongoing growth strategy, based on the expansion of its manufacturing capacities, as well as activities in research, development and innovation to optimize and complement the current range of service offerings. All investments will be located in Latvia, at the Company's existing sites in Marupe, Ogre and Ventspils.

Overdraft, reverse factoring and guarantee line limit agreements were also signed with SEB bank to prolong the maturity of the existing working capital financing limits in amount of 1.9 million EUR for 1 year.

Ilmārs Osmanis, CEO of HansaMatrix: “HansaMatrix has started cooperation with SEB bank in December, 2017. The concluded financing agreements and additional financing limits will further develop successful relationship with the bank and allow the company to speed up the working capital turnover, potentially to increase the manufacturing volumes and execute the investment plan.”

Ints Krasts, board member of SEB Latvia: “We are proud that HansaMatrix, a Latvian company is able to find its place, manufacture exportable products and create high added-value in the industry of high-technologies, which is a very competitive market where any company has to succeed in fierce competition with global corporations. HansaMatrix fulfils its ambitions by strengthening and broadening its positions in the market, investing in research and development of new products and increasing its production capacities. We are glad that HansaMatrix has chosen SEB as their long-term financial partners and for this opportunity to contribute towards reaching company’s business goals.”

HansaMatrix is a fast-growing, high-technology company offering product design, industrialization and complete manufacturing services in data networking, internet of things, industrial segments and other services to high added value business segments. In addition to complete manufacturing services of OEM products, the company offers an ODM business model to both start-up and established companies that seek product development partnerships.