EBRD to lend 3.5 mln euro to Romanian software company Tremend

Tremend will use the loan to address temporary working capital needs related to longer receivable cycles due to Covid-19 related volatility and to support its rapidly growing business, the EBRD said in a project summary document.

The loan will be granted in both euro and Romanian lei.

Founded in 2005, Tremend specializes in three key areas: agile digital transformation, advanced engineering and emerging technologies. The company has implemented over 700 major projects for telecoms, the banking sector, retailers, the media and the auto industry, its products serving over 60 million users, the EBRD said.

Tremend is present in 19 countries and 4 continents. The company has its main office in Bucharest and also runs an office in Brasov, central Romania.

In 2018, Tremend finalised the acquisition of U.S.-based web and mobile company 648 Group for an undisclosed sum.

($=0.8504 euro)