“Eksfin has served as an enabler for global growth. Our revenues have close to tripled during the last year,” says Arne Eivind Andersen, CEO of Sharebox, a market leader in car handover and access control.
From its headquarters in Arendal, Sharebox has deployed their kiosks on four continents. Growth is especially strong in Europe and the US because of partnerships with legacy car makers and car rentals, such as Porsche, Audi, Volkswagen, Skoda, Avis, Europcar, Sixt, and Hertz.
“Eksfin opened doors to banks and Innovation Norway, which in the end gave access to a total financing package that served our growth strategy,” said Andersen.
He shared the Sharebox story during a seminar on how to grow Norwegian exports. 75 people gathered in Kristiansand to learn more about government supported financing schemes for increased export. Such schemes are offered by Eksfin, Innovation Norway, Nysnø, and more.
INCREASING NORWEGIAN EXPORTS
“Eksfin is the governmental instrument designed to support Norwegian exports and the green transition. The goal is to increase exports, not including oil and gas, by 50 per cent within 2030,” explained Tone Lunde Bakker, CEO of Eksfin.
The sale of Norwegian-produced goods and services abroad made up a third of Norway’s GDP in 2020. Excluding the oil and gas industry, Norwegian exports provided 465,000 jobs, approximately 25 percent of all employees in private companies in Norway.
Eksfin provides loans and guarantees for promoting specific sales contracts abroad, investments in Norway that contribute to exports, or other transactions that help to generate value and employment within Norway. Typical clients are Norwegian exporters, international buyers of Norwegian export, Norwegian yards and shipowners, and banks.
POLITICAL RISK GUARANTEE
Today, Norwegian exports are very much dominated by oil and gas. Other significant industries are salmon, aluminum, and the maritime sector. Growth is expected in industries such as offshore wind, green maritime, travel, health, design, and finished products.
Umoe Advanced Composites, a global supplier of large glassfiber pressure vessels and transportation modules, was given a political risk guarantee by Eksfin when building a new factory in China.
“The Eksfin guarantee helped us make the decision to go forward with the investment,” said Stig Henning Svensson, Chief Financial Officer at UAC.
The seminar on export financing and relevant funding schemes in Kristiansand was arranged by Eksfin, GCE NODE, and the Kristiansand Chamber of Commerce. A strong field of speakers included Siri Kalvig (Nysnø), Lars Christian Bacher (Morrow Batteries), Peder Andersen (AMV), Sveinung Hovstad (Innovation Norway), and May Snemyr Falkgjerdet (DNB).
