By qualifying for the innovation and digitization program, the company secured an investment loan with guarantees from the European Investment Fund. Operating under the 'Kale' brand, the company produces a range of food products from the delicious and nutritious leafy cabbage, available for purchase through its online store and various retail outlets.
Kale Latvia Organic produces various food products – including chips, pesto, and kimchi – using kale as its primary raw material. The company is currently focused on expanding its export capabilities, with plans to sell nearly all of its products abroad.
“Our story began in the kitchen of a house in the city center with superhuman enthusiasm. Initially, we planted and cultivated cabbage ourselves in our fields in Madona County. Even today, we can say that we still grow cabbage ourselves, yet now in collaboration with organic farms. We are a young and creative company committed to transforming eating habits, so we’re pleased that our lender believed in our business plan and idea, helping us secure much-needed financing for further company development. We continue to experiment, and some of these innovations will definitely lead to new products coming to market. I will not be afraid to say that we are the only ones in the world offering such a variety of this vegetable and have created the world’s best and most valuable chip alternative to potato chips,” says Edgars Kravalis, co-founder of Kale Latvia Organic.
So far, the company has invested over 1.5 million euros in developing its production plant. With financial support from smeGo, the company has additionally purchased the necessary equipment, resumed production, and aims to create jobs for at least 20 people. The company also intends to utilize smeGo factoring services that will help control the flow of working capital more successfully.
“During multiple meetings with the company’s representatives, we searched for and found a financing type tailored to their specific business and development objectives, as well as provided guidance on completing documentation to obtain necessary guarantees from the European Investment Bank. Every business is specific, so customized solutions are what we offer to our clients whenever possible. We are pleased to support a modern production plant with great export potential for its products, and we hope for even faster growth in the future,” says Agris Indričevs, head of smeGo’s Latvian branch.
