Luminor grants EUR 1.3 million to AS Capital for business development

Luminor bank has granted EUR 1.3 million to AS Capital, one of the leading Latvian information technology companies, to develop its business and meet the growing demand during the pandemic. The company has successfully developed its services during the pandemic and is poised for further growth.

AS Capital is engaged in computer manufacturing, high-tech data processing and storage solutions, as well as IT consulting services for companies. With the restrictions and distance learning, demand for hardware - laptops, headsets, webcams - soared, and the company was able to meet the demand, thus boosting turnover. At the same time, remote work increased the demand for data storage equipment, servers, and modern conferencing solutions. AS Capital proactively anticipated new customer needs, offered flexible solutions, and provided additional support to users. 

“A number of companies in the technology sector did well during the pandemic, including local AS Capital. The company is a successful example of how to react quickly to sudden market changes and growing demand to achieve significant success. As the pandemic continues, AS Capital is determined to further develop the range of services it offers and Luminor is pleased to support the company’s growth with the necessary funding,” says Ilze Zoltnere, Head of Corporate Department at Luminor in Latvia.

In 2020, AS Capital achieved its highest profit since the company’s establishment, where the largest increase in turnover was provided by the sale of laptops. 
“Our advantage among other companies was our historically well-established network with suppliers and large manufacturers. If one partner could not make the necessary deliveries at a given moment, we could turn to another. We also launched an equipment rental programme during this time, as not all companies could afford to buy the hardware they needed. We also provided our clients with consultations, recommending the best technical solutions to meet the needs of a particular company and strengthen IT infrastructure,” says Ivars Šulcs, Member of the Board of AS Capital.