Investment & Fund Management

The Knotty Ones, a textile company based in Vilnius, Lithuania, faced the challenge of preserving traditional Baltic craftsmanship while creating sustainable employment opportunities for knitters in rural areas. The founders, Akvile Meskauskaite-Dobrajs and her team, recognized that many skilled knitters, including young mothers, struggled to find fulfilling work. To address this, they developed a business model that combines handmade and machine-made production, allowing knitters to work from home. This approach not only supports local artisans but also promotes the use of natural, biodegradable materials in their products.

To finance their growth, particularly in expanding their B2B sales alongside their B2C operations, The Knotty Ones secured an EU-guaranteed loan through Noviti, backed by the European Investment Fund (EIF). This funding enabled them to invest in production and build up stock for distribution to markets in the UK, US, and across Europe. As a result of this tailored financial solution, the company has seen steady business expansion and is now looking to replicate its artisan model in the US, aiming for greater impact on local communities.

The specific financing purpose was to support working capital and growth, with the EU financing provided through the EaSI Guarantee Financial Instrument. The Knotty Ones currently employs 60 individuals and continues to focus on sustainable practices, ensuring that their production methods align with their mission of social impact and environmental responsibility.