The IT company signed a guarantee line agreement in the amount of PLN 20 million. For Sygnity, this is an important moment of return to the banking market after 4 years, as well as the possibility of releasing cash previously frozen in the form of contractual security deposits.
Sygnity has concluded an agreement with BNP Paribas Bank Polska, under which the bank will provide tender guarantees and proper performance of the contract. The granted limit is PLN 20 million.
“For many quarters, we had to deal with the lack of this type of financing, which involved the cash we had earned and made it difficult to undertake broader development activities. The current financial condition of Sygnity allowed the Company to return to the banking market and obtain external financing” – explains Inga Jędrzejewska, Member of the Management Board for financial matters of Sygnity. “The release of funds previously frozen in the form of contract collateral will improve our cash position and give us space to finance investments, in particular regarding the development of our own products” – emphasizes Inga Jędrzejewska.
The aim of the management board is development areas that address the current market needs and are in line with the latest technological trends.
“The release of the investment potential increases the possibilities of implementing new customer contracts and expanding the product and service offer based on selected technological trends (Cloud, RPA, Digital Transformation). In order to accelerate these processes and reduce their costs, we are actively looking for opportunities to free our own funds, as in the case of this agreement, and to obtain external sources of financing, such as NCBiR grants for the creation of innovative IT solutions” – says Bogdan Zborowski, President of Sygnity.