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Financing needed for start-up: supplier to furniture manufacturers

Under the product name “Vilkne”, a young Latvian start-up is seeking venture capital financing for production of high-end drawers for designer furniture such as kitchens.

“Vilkne” is a prefabricated drawer concept for exclusive furniture, aimed at German and international cabinetmakers and furniture manufacturers. The advantages of the concept are a simple and efficient online shop, high-quality materials combined with modern design, and two completely new features for wooden drawers: adjustable drawer fronts and an “easy clean” concept of rounded-down inside edges. The concept facilitates the production cycle for cabinetmakers and helps reduce costs – while adding extra features.

On the basis of a full-scale business plan, “Vilkne” has already been approved a loan by Latvia’s state-owned development bank ALTUM amounting to EUR 180,000, mainly to establish a production site and acquire machinery.

Financing period: until July 2018

Executed by: “Vilkne”

Value: EUR 550000