Maxy Media: EGP provides competitive advantage
When scrolling through news websites, it’s become commonplace for readers to come across paid or related content—what’s known as native advertising. These ads match the look and feel of the page they’re on, and feature great images and headlines. Increasingly, this content is created and placed by Maxy Media, a Montreal-based digital media buying agency founded by Maximilian Lekhtman. Maxy Media gets paid when its ads generate marketing leads for its customers.
Given the nature of the business, Maxy Media typically waits between 15 and 30 days to get paid, making it difficult to have sufficient cash flow. When Lekhtman and company CEO Mark Lachance went to their bank to increase their line of credit, the bank suggested that EDC get involved. With the majority of its sales in the United States and Germany, Maxy Media was a perfect candidate for our Export Guarantee Program.
Working with the bank, EDC provided a guarantee on the money Maxy Media was borrowing. “EDC gives us the ability to raise more working capital and, specifically, debt financing,” says Lachance. “And that’s a competitive advantage. We want to expand throughout Europe and the world because that’s where the real opportunities lie. Working with EDC gives us that opportunity and protects us financially.”
