Mapon, a Riga-based fleet management solution provider, has secured €3 million in funding
through a bond issue to finance acquisitions and expand its operations in Europe.
The funding was attracted from private and institutional investors. Mapon offers fleet management and asset-tracking solutions, maintaining a client-centric approach and achieving a growth rate of nearly 30%
over the past five years.
The company plans to use the funds to strengthen its position in current
markets, invest in opening new branches in Europe, and make similar acquisitions in the future.
With a client-centric approach, professional and committed team, and continuous product
development, Mapon aims to maintain its annual growth rate of nearly 30%, which it has achieved over the past five years, constantly beating the market. According to unaudited data, the company’s turnover reached €17.3 million in 2023. This year, it is estimated to exceed €22 million.
https://arcticstartup.com/mapon-raises-e3m/
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