Natech, the leading European Fintech Company developing banking technology solutions for distinguished financial institutions, has secured €17 m through the Recovery Resilience & Facility (RRF) under the Digital Transformation Pillar.
The total investment plan was set at €21 m, while the debt financing amounts to €17 m with the issuance of a syndicated bond loan (co-financing RRF at 62,5% & Piraeus Bank at 37,5%).
This particular investment concerns the upgrading, expansion and diversification of Natech’s software, as well as the offered services. It is expected to further facilitate the company’s short-and-mid-term geographical expansion. In addition, it is anticipated to contribute to the attraction of specialized executive human resources and improve the overall working environment and conditions.
“In order to be able to achieve Natech’s product and geographical expansion, capital resources are required. Within this framework, we have so far managed to raise €10 m through a convertible bond and secure €17 m more through the Recovery & Resilience Facility (RRF), which is a significant financial and development corporate tool”, said Dimitris Navrozoglou, Vice President & CFO of Natech. “Thanks to the current liquidity, we are allowed to move forward to the implementation of our business plan by utilizing the secured resources of the Recovery & Resilience Facility (RRF)”.
Natech’s consultant for the submission and the successful completion of the plan was Grant Thornton (Greece).