The ceiling-type product allows quick access to corporate credit line and to different types of non-cash Guarantee Letters (bank guarantee letters, performance letters, vendor payment guarantee, prepayment, etc.), as per Bittnet’s stock market announcement.
Dendrio Solution will use this banking product to stop “blocking” its own cash to issue Guarantee Letters and to unlock the current guaranteeing instruments of this kind. Bittnet Systems is the Sole Associate of Dendrio Solutions, the announcement also reads.
Bittnet Systems, owned by its founder and majority shareholder Cristian Logofatu, jointly with Mihai Logofatu and Razvan Capatina-Grosanu, holds 100% of Dendrio Solutions shares.
Founded in 2007, the company was the first in the IT sector to be listed on the Bucharest Stock Exchange, on the AeRO market.