SME funding specialist Finnest has won the business of another established business. Strasser Steine (Stones), a market leader in natural stone countertops for kitchens and more, has selected the peer to peer lender to raising growth capital for its business.
Beginning today, investors can invest in Strasser on Finnest in a subordinate loan with a 5 year term.
“We are delighted to have won Strasser stones another renowned medium-sized companies with an international reputation for funding through our platform,” explains Finnest co-founder Joerg Bartussek.
Strasser, based in St. Martin in the Upper Austrian Mühlkreis, has 70% market share for kitchen countertops in their home country. In addition to kitchen countertops, Strasser also sells products for other sectors including artificial and natural stone for the building materials and other products. Founded in 1963 as a one-man operation, the company now has about 200 employees with annual sales of almost €28 million euros. Growth was pegged at 19% last year.
“Not only tradition and history, that is developing from a small family business to a central European market leader, the economic parameters of Strasser stones fits exactly with the service that we provide to companies for financing on Finnest,” says Finnest co-founder Günther Lindelaub. “The company has the best credit rating and an equity ratio of 28%. An annual production of more than 15,000 kitchen commissions and the most modern stone plant in Europe for the booming market in kitchen countertops – this makes Strasser stones as what is called a classic hidden champion.”
Strasser stones majority owner and CEO Johannes Artmayr explains:
“Kitchens are increasingly becoming a status symbol – with our high quality countertops from natural stone, we benefit particularly from this trend. So we already supply well-known kitchen and furniture dealers in Austria, Germany, Switzerland and the Czech Republic. “
The financing from will support the further expansion of Strasser stones, especially in Germany, as well as the development of new product innovations.
“Finnest offers midsize and dynamically operating companies an innovative alternative financing,” added Artmayr.
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