Conquering new markets at the origin of Horizon Grains exponential growth

Information about the company Horizon Grains Canada Limited the registered exporters of cereal products. This company, based in Calgary, works directly with farmers in Alberta and Saskatchewan, buying quality grains for their national and international customers. The company’s growth has been stable since 2010, but the recent increase in international locations has allowed it to see exponential growth: its turnover increased from $400,000 in 2018 to $5 million (still ‘ growth) in 2024.

In a recent interview, Iftikhar Wainse, Managing Director of Operations and Business Development at Horizon Grains, spoke to us about his company’s journey around the world and how RBC has helped it grow internationally.

Entering new markets

When Mr. Wainse had the opportunity to sell grain to a foreign buyer, he was told that he had to work with a bank to pay for the order. He then met with several banks, but he felt that RBC really understood his needs.

After meeting a local merchant banker, Mr. Wainse began a long relationship with RBC, marked by close collaboration with his merchant finance specialist, Roshan Drahaman, and the relationship manager.

One of the most effective tools his partners have given him is RBC RBC Global Connectionan online international business resource that helps business owners determine which countries to expand to. It provides access to market profiles, trends and tools, as well as the RBC International Business Club, which connects like-minded businesses from around the world.

“I think that the capabilities and instruments that RBC offers to businesses are far better than the capabilities of other banks,” said Wainse.

Navigating the twists and turns of international trade

From language barriers and cultural differences to foreign exchange and foreign policies, doing business abroad comes with its share of challenges. Additionally, doing it with a distant partner can call into question reliability.

Thanks to his RBC partners, Mr. Wainse was able to do business abroad with complete peace of mind. Mr. Drahaman’s extensive experience in international trade has allowed Mr. Wainse to continue generating income for his business. In addition, for entrepreneurs who want to protect their payments and access working capital, international trade tools such as export letters of credit can be very useful.

Take exponential growth opportunities

Mr. Wainse took advantage of other capabilities provided by RBC, including product specification and letter of credit discounting, tools that he says take too long to be approved by other financial institutions.

«Roshan [Drahaman] who has a wealth of knowledge and offers me unwavering support when making decisions,” said Mr Wainse. “In particular, he set out a production trend that allowed us to buy peas in large quantities. » With the help of RBC, Horizon Grains recently expanded into China. “This would not have been possible without RBC, who supported us in our operations. »

RBC also met their working capital needs, which allowed them to purchase goods and travel to meet with clients overseas. “I think the personal connections we make are vital,” says Mr. Wainse, who points out that he never returns from his trips empty-handed, but always with orders.

Through being responsive and proactive, RBC has played an important role in the growth of Horizon Grains. In 2018, when the company started exporting full time, its annual turnover increased from $400,000 to $450,000. In 2023, it reached $1.1 million and so far in 2024, the sales level is close to $5 million. “At the end of the financial year, we hope to achieve a turnover of $10 million, and the goal is already half achieved! »

According to Wainse, Horizon Grains has a very bright future as long as it continues to work with and benefit from RBC’s support. There is great potential for expansion and it is overwhelmed with orders for new crops. With RBC by his side to help him deal with this downturn, Mr Wainse is confident he can continue to sell and grow his business.

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