Shape Robotics secures 92.5 Million RON Financing Agreement (approximately 138.75 Million DKK) with UniCredit Romania to boost SmartLab Production, delivery capacity, and R&D
Summary
27-24 The announcement contains inside information.Herlev, Denmark 14 November 2024 Shape Robotics A/S, a leader in educational robotics, is pleased to announce a comprehensive financing and factoring agreement totaling 92.5 million RON (approximately 138.75 million DKK) with UniCredit BANK, replacing our previous facilities with BRD Groupe Soci\xe9t\xe9 G\xe9n\xe9rale.This new financing structure optimizes our cash flow by ensuring access to liquidity across our operations, addressing the cash pressures from long payment cycles. The broader factoring facility also reduces dependency on a single debtor, enabling us to diversify income streams and maintain smoother cash flow.Mark Abraham, CEO of Shape Robotics, said: "This refinancing with UniCredit not only strengthens our financial position but also underscores our commitment to scaling our operations and delivering innovative educational solutions. By increasing our factoring capacity and securing favorable credit terms, we can better manage cash flow, meet the growing demand for SmartLabs, and continue our mission to transform education through technology. The Innovation & Digitalisation scheme, part of the broader InvestEU initiative, aims to accelerate the digital transformation of European industries and enhance the competitiveness of businesses through financial guarantees, loans, and investment support. By providing robust guarantees, the scheme reduces the risk for lenders, attracting private investment and enabling businesses like Shape Robotics to scale up operations, innovate, and contribute to Europes digital future.