Working capital increase for the tender contract execution

Need:61 310.20€
Min.:11 310.20€
Interest rate:26%
Period:12 months
Target: 100 000€
Min. target: 50 000€
Opens: 2021/07/08
Expires: 2021/08/08
Type: Specialized
Location: Latvia, Spain
Investments: 283


CROWDESTOR is announcing a new investment opportunity: SIA Elmets - metal trading company - working capital increase for the tender contract execution. 

The financing target for the first round is 100 000 EUR. The loan term is 12 months, and the interest rate is 26% p.a. 

The Borrower will repay the loan principal in monthly payments of 2 000 EUR for 11 months. After 11 months passed and 22 000 EUR of principal is repaid, the remaining principal and interest will be repaid in a single bullet payment. The loan is secured by The Borrowers product inventory, including all the products purchased as a result of this fundraising campaign, 50% of SIA Elmets and shares, and a personal guarantee from management board member Ritvars Tauriņš.

The Borrower has won the tender and signed a contract for metal fitting delivery to a real estate developer in Spain. The raised funds will be used to purchase 500 tons of gate furniture metal. The fulfillment of the above-mentioned tender will become a major milestone in the Borrower’s expansion to Spain and guarantee a second order for 1000 tons of metal fittings from the same real estate developer. 

The Borrower SIA Elmets, currently operating in Latvia and Spain, is the exclusive distributor of metal forgings, INOX system, and gates furniture from six leading European metal product manufacturers. Currently, the Borrower is in the process of signing exclusive dealership agreements with three leading metal manufacturers in Turkey.


Minimum target: 50 000 EUR
Maximum target: 100 000 EUR
Loan period: 12 months
Interest rate: 26% p.a.
  • Monthly principal repayment of 2 000 EUR for 11 months.
  • The remaining principal and interest in a bullet payment at the end of the Loan Term.
  • Commercial pledge on the Borrowers stock.
  • Commercial pledge on 50% of the Borrowers shares.
  • Personal guarantee from Management board Member Ritvars Tauriņš.
Location: Spain, Latvia


The Borrower seeks funding as it sees potential for increasing production and sales volumes with growing demand in the construction market of Europe.

The volume of the European metal market is estimated at around 244B EUR. Other metal products (a statistical category, which includes the Borrowers inventory) market share is 24% of the entire metal market or 61B EUR. According to forecasts, the upward trend on the European construction market will continue up to 2023. 

Source: EUROFER: The European Steel Association

Taking into account the new dealership agreement with Turkish metal manufacturers, the Borrower’s potential market will increase by 70%. With growth drivers like increased demand, additional product inventory, and the potential of new dealership agreements, the Borrowers plans to triple its market share in two years. 

While there was a significant decrease in sales of metal products in 2020, the market will recover and reach the pre-COVID volumes during 2021. The driving factors behind the recovery are the increase in construction activity and the distribution of metal products via e-commerce channels. 


SIA Elmets is manufacturing and distributing metal products for gates and fences since 2018. The Borrower represents a wide range of EU metal product manufacturers and has exclusive dealership agreements with the six most prominent manufacturers in Europe. 

The Borrower is operating in B2B and B2C sectors. It has a warehouse, a showroom, and an online shop. In 2019 the Borrower established a company in Spain with a warehouse, a showroom, and an online shop. The Borrower is going to start manufacturing metal fences in Spain, as there are market gaps that can be filled by the Borrowers offering. 

The Borrowers online shop product range

The Borrowers online shop product range

Companies in Latvia and Spain are managed by Ritvars Tauriņš, who has over 15 years of experience in the metal industry.

Company name: SIA Elmets
Registration number: 40003586471
Registration date: 26.03.2002
Registration country: Latvia
Legal address: Daugavas iela 38-3, Mārupe, Mārupes pag. Mārupes nov., LV-2167
Actual address: Daugavas iela 38-3, Mārupe, Mārupes pag. Mārupes nov., LV-2167
Board member: Ritvars Tauriņš
Shareholders:  Sandija Tauriņa, Vladimirs Gasperovičs, Edgars Cers

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