Dragør company realises growth ambitions with financing from kompasbank

Many small and medium-sized businesses have their growth plans stunted by poor liquidity, often due to short-term loans with high interest rates. At Vikings Tech, those limitations have been overcome thanks to a loan from kompasbank. 

Vikings Tech is an international trading company that sells IT equipment and related services to businesses. As a small and agile player, they focus on solutions and quick decision-making, enabling them to better support their customers in sourcing essential hardware during a time when the industry is grappling with a global microchip shortage and supply chain challenges.

Founded by Søren Mejer and Fares Armanazi, the Dragør-based company was born out of a clear vision of how they wanted to run their business. Drawing on years of experience in larger companies, the duo established Vikings Tech five years ago, seeking both a more flexible work life and the opportunity to put their extensive knowledge into practice. 

Their ambitions are high. Vikings Tech aims to triple its revenue within the next three years and expand its customer base to include private customers. Currently, they are developing an advanced e-commerce platform designed to give customers worldwide access to an automated webshop. This platform will allow customers to browse and purchase from a catalogue of over 50.000 items, available 24/7, with automated just-in-time global shipping.

Partnership with kompasbank fuels growth plans

These ambitious growth plans are being realised thanks to a loan from kompasbank, which ensures Vikings Tech maintains healthy liquidity.

“With our loan from kompasbank, we’ve secured the liquidity needed to purchase larger stock quantities and benefit from bulk discounts, which in turn gives us a competitive edge in a tough market. This financial backing is absolutely critical for us to keep pace with the digitalization wave and achieve our growth ambitions,” says Søren Mejer, CEO and founder of Vikings Tech.

In addition to improving liquidity, the partnership with kompasbank has also enabled Vikings Tech to refinance their previous short-term loans, including one from the crowdfunding platform Lendino, which helped kickstart the company’s journey.