“Printful” has become the first “unicorn” in Latvia / Article

“Draugiem Group” printing products manufacturer “Printful” has acquired 130 million dollars (106.6 million euros) investment from the private investment company “Bregal Sagemount”, becoming the first Latvian “unicorn” or a new company that has provided more than one billion US dollars in the market value, reported in the Wall Street Journal. –

Bregal Sagemount has invested without acquiring control of the company.

Unicorns are start-ups with a market value of more than a billion dollars.

Printful is reportedly an outsourcing printing and sewing company that manufactures and delivers orders on behalf of online stores.

This winter, Printful had nine production facilities around the world, four of which are located in the United States – two in Charlotte, North Carolina, and one each in Los Angeles, California, and one in Copel, Texas.

Last year, Printful Latvia’s subsidiary Printful Custom Printing PL in Spain started fulfilling incoming orders at the second European plant in Barcelona. In 2020, the subsidiary “Prinful UK Ltd.” was established. In the UK to provide printing outsourcing and shipping to the end consumer.

In the spring of this year, Forbes ranked Printful among the best employers in the United States.

“Printful Latvia” was registered in February 2017, and its share capital is 350,000 euros. The real beneficiaries of the company are Lauris Liberts and Agris Tamanis.

Last year, Printful Latvia had a turnover of 47.243 million euros, which is an increase of more than twice compared to the previous year, but the company’s profit increased by 73.5%, reaching 13.982 million euros, according to Firmas.lv information.

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