EBRD finances Romanian mobility provider Autonom with EUR 5 million

The European Bank for Reconstruction and Development (BERD) is providing a EUR 5 million loan to Autonom Services, Romania’s largest locally owned provider of mobility services. The loan agreement was signed in Bucharest, today, by EBRD President, Suma Chakrabarti, and co-founder of the company, Marius Stefan.

Autonom Group was founded in 2006 by two brothers, Marius and Dan Stefan, and now has a network of 45 car rental centers across Romania, subsidiaries in Hungary and Serbia and a fleet of more than 8,000 vehicles. It also provides car-fleet management services and full-service operational leasing.

The EBRD’s loan will enable the company to expand its car fleet in order to meet growing demand from Romanian firms, especially SMEs.

Previously, the company has received support under the EBRD’s Advice for Small Businesses program in Romania funded by the Austrian government. With the help of an international adviser, Autonom was able to access new sources of finance, redesign risk management processes and grow its business.

President Chakrabarti also welcomed Autonom to the EBRD’s Blue Ribbon program. The project combines business advice and finance for companies that stand out for their market leadership and high-growth potential. It currently includes 30 companies in 20 countries where the BERD invests.

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Autonom is the first Romanian company to join the program, thanks to the firm’s solid business strategy, innovation and strong management.

The EBRD is among the top institutional investors in Romania. To date, the Bank has invested close to EUR 8 billion in the country in more than 400 projects. In 2017 alone, it invested EUR 550 million in Romania. Of this financing, over EUR 500 million was provided to the private sector, the highest level seen in the past seven years.