Riga, 2017-10-23 17:00 CEST (GLOBE NEWSWIRE) -- On operating results
In the third quarter of 2017 Capitalia reported total revenues of EUR 687 thousands (year-to-date), which is an increase by 34% compared to the respective period in 2016. For the first 9 months of the year profit of EUR 43 thousands is reported. As summer typically is the low season in our business, the total financing issued to the businesses remained stable at around EUR 5 million.
On key events
During the third quarter of 2017 we have continued to work on update of our operating procedures. Also, we have increase our team of client managers to continue effective provision of financing to increasing range of clients. We have significantly simplified yet also extended our range of financing products as a result of which in addition to business loans and invoice financing we have started to provide venture capital and business angel investments. Such capital will be provided with co-financing of other experienced investors. In parallel, we are planning to strengthen our cooperation with the marketplace platform Mintos.com with an aim to reduce the amount of liabilities in the balance sheet of Capitalia.
On plans for the next quarter
For the following three months, the key focus of Capitalia will be to develop our crowdfunding platform capitalia.com. We have successfully completed due diligence process on a number of fast growing businesses that will be seeking financing of up to EUR 1,000,000. It is expected that the first investment project will be published in November.
On Capitalia
Capitalia is the largest non-bank lender to small and medium enterprises in Latvia, Lithuania and Estonia. To date Capitalia has financed working capital and investment needs of more than 1000 companies investing over EUR 20 million in growth of these businesses.
Juris Grišins
Manager
Email: juris.grisins@capitalia.com
Phone: +371 2880 0880
www.capitaliafinance.com
