Investment & Fund Management
European Investment Fund Partner
Full Credential Description
Brújula, an IT consultancy specializing in information systems for the tourism industry, faced significant challenges related to cash flow during a period of rapid growth, which saw the company expand by 25% in 2016. Headquartered in Palma, Mallorca, with additional operations in Granada and Santiago, Chile, Brújula provides a range of services including technological consultancy, application installation and maintenance, web design, content development, and online branding. The company aims to enhance tourism offerings by delivering customized travel solutions tailored to the specific needs of their clients, which include both private sector entities and public administrations.
To address the liquidity issues stemming from their rapid expansion, Brújula sought financial support from Bankia through an EU-supported loan guaranteed by the European Investment Fund (EIF) under the SME Initiative in Spain. This financing was crucial for Brújula's continued growth and operational stability, as noted by CEO Josep Lluís Vidal, who emphasized that without this financial backing, the company's steady expansion would not have been feasible. The tailored solution provided by the EIF not only facilitated Brújula's immediate cash flow needs but also positioned the company for sustained growth in the competitive tourism sector.