AS PUTO develops contactless self-service and portal-type car washes with financing from Signet Bank

Signet Bank, a local bank, has granted EUR 6.88 million in financing to AS PUTO, the largest self-service contactless car wash chain in Latvia, supporting the company’s future growth in its current self-service car wash network, as well as the development of five new portal-type car washes. The expansion of the PUTO network will continue to provide a convenient, safe and modern car washing experience.

The AS PUTO car wash network is designed to provide convenient logistics for drivers and is located on their daily routes. With the support of the funding provided, self-service car washes will be available in six more locations – four in Riga, as well as one each in Salaspils and Saldus. In addition, as part of the funding, customers will be introduced to a new product – PUTO EXPRESS, which consists of five new portal-type car washes in Riga. PUTO EXPRESS is a fully automatic car wash that provides fast, safe and high-quality car washing without the customer having to manage the cleaning process. All car washes are equipped with the latest technologies and equipment, developed and improved based on the most up-to-date solutions in the field of car washing in Europe. Currently, the PUTO network operates 45 self-service and 5 portal-type car washes in 24 Latvian cities.

“Our priority is a strategically thought-out pace of business development and innovative solutions that are convenient for customers and suitable for urban infrastructure in the long term. Thanks to the financing provided by Signet Bank, we can continue our dynamic growth by expanding the PUTO car wash network and promoting the availability of the service in various regions of Latvia,”

says Andis Vitmanis, Member of the Board of AS PUTO.

“By supporting the development of AS PUTO, Signet Bank has the opportunity to increase the availability of services that have become a practical and essential part of everyday life for a wide range of car drivers. Modern, technologically advanced and easily accessible solutions are essential in the fast-paced urban environment, and PUTO’s development plans confirm this. We are happy to support the growth of local businesses that are committed to developing high-quality services tailored to customer needs,”

says Ineta Done, Member of the Board of Signet Bank.

About AS PUTO

PUTO is the largest self-service car wash chain in Latvia, offering efficient, convenient, and affordable vehicle washing and care solutions using the latest technology. PUTO focuses on sustainability, efficient use of resources and simplicity of user experience, which allows the company to strengthen its position as a reliable and competitive player in the car wash service market. More detailed information about the services provided by PUTO is available at www.puto.lv.

About Signet Banka:

Signet Banka is Latvia’s leading investment bank, founded in 1991 and one of the first independent banks in Latvia. Signet Banka offers sustainable financing and investment solutions to local entrepreneurs and companies. Since 2021, Signet Banka has attracted additional financing of EUR 1 billion for more than 50 Latvian companies through bond and share issues, while new lending transactions amounted to EUR 500 million. In 2024, the financial resources under management reached EUR 1.6 billion. Signet Banka is the leading organizer of corporate bond and share issues in Latvia and one of the leading stock exchange brokers in the Baltics. Signet Banka’s shareholders are twenty-four Latvian and international private investors, the largest of which are Signet Acquisition III (22%), whose sole shareholder is US investor Alexander Solovey, SIA Reglink (14%), founded by banking professional Irīna Pīgozne, and AS RIT Group (11%), a Latvian company owned by the Rapoport family.