Bricknode secures loan for SEK 2.5 million
Bricknode today announced it has secured a loan for SEK 2.5 million provided by Founder and co-CEO Stefan Willebrand, co-CEO Erik Hagelin and Chairman Robert Lempka. The loan will support the company as it continues its path to profitability.
In August 2022, Bricknode announced a cost reduction plan (https://www.bricknode.com/investors/press-releases/view/?releaseIdentifier=0903702A5341C3AC) in order to reduce risk for the company, and that plan has already helped Bricknode lower its monthly burn rate. The loan announced today will continue to support the company as it pursues its goal of reaching profitability.
Summary of the loan terms:- Loan amount: SEK 2.5 million
- Loan term: 1 year
- Interest rate: 1.5% per month
Founder and co-CEO, Stefan Willebrand, said: "We're pleased with the progress we've made in streamlining our business, and this loan will provide additional support as we forge ahead with a strong sales pipeline. We were glad to announce two new wealth customers in two weeks during December, and intend to carry this momentum into the new year."