Cembra, a Swiss provider of innovative financing and payment solutions, arrived in Latvia via the acquisition of another Swiss company in 2022 It gained access to a highly qualified team of IT and service specialists, now employees of Cembra Latvia. Riga offers several operational and financial advantages, particularly in terms of talent, there are numerous regulatory similarities between Switzerland and Latvia, as well as the broader EU.

One of the challenges associated with Cembra’s expansion to Latvia was raising awareness of the company and establishing an employer brand since it is new to the country and offers no products in the local market. The chosen strategies proved to be successful, and 2024 was a year of significant growth, learning, and achievement for its subsidiary in Latvia

Cembra Latvia also partnered with Erda, a strategic HR and communications agency, to further develop the employer brand. The company has already benefited from the support of local partners in the process of finding suitable office space, and also from legal and financial advisors to gain an understanding of the local regulatory landscape. The professional support they provided helped the company establish strong, compliant foundations so that its operations would not only respect but also seamlessly integrate with the nuances of local and EU regulations.

Cembra Latvia aims to grow, establish partnerships, and further strengthen the local service industry with professional quality services in the realms of personal loans, auto leases and loans, credit cards, invoice financing, and savings products primarily targeted at the Swiss market.