KredEx Krediidikindlustus awards Export Deed of the Year to Cleveron

KredEx Krediidikindlustus, a company providing credit insurance solutions, has awarded the annual “Export Deed of the Year” award for 2018 to Cleveron, the Estonian-based company developing last mile click-and-collect pickup solutions for the retail and logistics sectors.

“The significant increase in Cleveron's export turnover and the sale of a research and development-based product from Viljandi to the world is remarkable and deserves to be rewarded,” said Mariko Rukholm, Member of the Board of KredEx Krediidikindlustus. “Cleveron achieved a real breakthrough in export markets last year, but their robotics-based parcel terminals – located in Walmart, Zara and Canadian Tire shops – are most likely only the beginning of their success story," Rukholm added.

At the end of 2017, Cleveron signed a contract for robotics-based parcel terminals with the world's largest retailer, Walmart. By the end of last year, Cleveron's parcel terminals were installed in nearly 700 Walmart stores across the US. At the end of 2018, Canadian Tire, a Canadian retailer, joined Cleveron's customers. Inditex, the world's largest fashion vendor, has also installed Cleveron's terminals in nine Zara stores in major European cities.

According to Indrek Oolup, one of Cleveron's founders and head of their US business-arm, the award is significant recognition for their work. “Selecting the best partners in the market and creating long-term business relationships with them has been hard work. We are honoured and grateful to have received this award, and we are also grateful to KredEx for helping us expand to new markets,” added Oolup, who said that offering customers financing backed by KredEx has been one option for Cleveron’s customers.

According to Mariko Rukholm, using financial solutions to improve competitiveness on the international market is becoming the norm for more and more Estonian exporters. In cooperation with KredEx Krediidikindlustus, exporters can use export loan and credit insurance, allowing companies to organise financing for their international customers. Estonian companies have a number of options and solutions to boost their exports, from hedging their foreign partners’ payment risks through insurance, all the way through to organising financing for their customers.

“As Indrek Oolup from Cleveron pointed out, financing backed by KredEx Krediidikindlustus is an actual choice for their customers. This is a solution that our exporters’ international competitors are very accustomed to, but is still somewhat new in Estonia,” said Rukholm. Exporters can make the purchase easier for their customers when they also provide solutions for financing. “Companies need to consider financing solutions when making an offer, to maintain their competitiveness among other tenderers. We are glad to see that many Estonian companies, in addition to Cleveron, have concluded important deals adding financing solutions in offers made to their customers,” added Rukholm.

KredEx Krediidikindlustus, which offers risk management solutions for Estonian companies moving to foreign markets, has been giving out the “Export Deed of the Year” award since 2014, thereby recognising companies or industries that have increased their export volumes, successfully found foreign markets, concluded influential agreements with foreign partners or stood out with the export of Estonian products and know-how to foreign markets. In previous years, the award has been given out to Baltic Workboats, Harju Elekter, Estonian Wooden House Producers and E-Piim.

For further information on the credit insurance solutions offered by AS KredEx Krediidikindlustus, please visit www.ekspordikindlustus.ee.