Financing firm DS-Concept opens branch in Iceland to serve seafood industry
German private lender DS-Concept has opened an office in Reykjavik, Iceland, with the goal of providing financing to promising fishing and seafood companies in the country.
The new office will also allow DS-Concept to better serve its existing customers in Iceland, as well as find new clients. Besides fishing and seafood, it has targeted the energy and aluminum smelting industries as staples for its Icelandic business.
“The services offered by DS-Concept are just what the Icelandic fishing industry needs: offices in key markets and local know-how, expertise in international supply chain finance and tailor-made solutions that allow companies to grow as they can focus on their core business,“ Sveinn Reynisson, the country manager of DS-Concept’s Iceland office, said.
Iceland’s export-driven economy has become increasingly competitive, DS-Concept said in a press release, due to “a strong commitment to open market policies that facilitates dynamic flows of trade and investment.”
DS-Concept is focused on the small and mid-market investments. It identifies its core product as non-recourse factoring and supply chain finance. Itgoffers both pre-export and export financing and provides financing on open account, L/C and documentary collections payment terms, it said. Due to its international reach, it is able to structure credit facilities for Iceland-based companies supplying the U.S.A., Europe, the United Kingdom, and Asia.
“DS-Concept has been providing financing to the seafood industry, among other industries, for the past 17 years. Because of the large global network it has built over the years in this specific industry, DS-Concept is able to bring additional value, beyond fast funding and low borrowing costs, by introducing new buyers to Icelandic exporters,” DS-Concept Group President of Global Commercial Rene Pastor said.