Taking the Supply of Raw Goods to the Next Level

Increase in revenue generated within two years of financing

Carnex Frigo | Client of MicroVest portfolio company, RoCredit

Carnex Frigo is a supplier of raw goods to the food industry in Romania. A few years ago, an opportunity arose for the company to supply raw materials, namely spices, to one of the country’s largest sausage producers, Aldis SRL. Because Carnex Frigo was a small company, it needed financing to expand its business to keep up with the demands of an industrial, large-scale sausage producer like Aldis.

In 2018, Carnex Frigo sought financing from RoCredit on a product that would help get faster turnover on payments. This financing has allowed Carnex Frigo to diversify the range of products delivered, with superior bargaining power in the purchase of goods and raw materials. This has helped the company provide the necessary products needed to keep up with the industrial demands of large-scale food producers. Because of this, Carnex has been able to grow its business more than tenfold from a revenue of 1.2 million lei at the end of 2018 to 13 million lei by the end of 2020. The resulting growth has also resulted in the launch of several other small ventures that would have otherwise not been possible.

The client of our portfolio company profiled here is for educational purposes only and may not represent all of the portfolio holdings. It should not be assumed that investments in the company identified and discussed were or will be profitable. The companies profiled were selected based on their financial inclusion and impact with no reference to amount of profits or losses, realized or unrealized.