Software developer in Estonia

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Summary

Ignite, OU was founded in 2010 and grew quickly in size and turnover due to increasing demand of software development services. In 2016 management decided to develop own recruitment software that would keep track of all applicants for their job openings. As the software was desired by other companies, decision was made to launch it as Recrur - a separate product with improved and easier access for clients. The software is receiving partial financing from EAS (Enterprise Estonia). Company continues its main activities as software development services provider as well as further develops own product Recrur. Financing from Capitalia is attracted to finance the costs of development in amount of EUR 52,000 secured with two personal guarantees both owners and board members. Financing period is 12 months with 15% annual interest and monthly amortization schedule.

There is a number of factors that make lending for the Company an attractive opportunity and the main highlights are the following:

  • Management has over 10 years of experience in IT sector companies management; 
  • Company has an excellent partnerships with key clients for multiple years; 
  • Company has a track record of growth since beginning of operations;
  • Personal guarantees from managers and shareholders of the company;
  • Company has no liabilities to financial institutions.

Websites:    https://recrur.com/

ID 10933-2018-1
Industry IT
Location Estonia
Loan type Standard
Term 12 months
Expected return 15%
Interest rate Monthly
Amortisation Monthly
Risk grade C (76 out of 100)
Personal warranty From both owners/managers
Capitalia's cofinancing 4000
Target amount 52000
Successfully funded