Armenia's Export Insurance Agency (AGA) has signed an Export Insurance Certificate with the Information Technology Company "Cube".

According to the Ministry of Economic Development and Investments, export insurance certificates give "Cube" an opportunity to avoid the risk of non-payment of revenue from the sale of mobile app at the same time receive funding without collateral requirements, with simplified procedure and affordable interest rates.

Executive Director of Armenia's Export Insurance Agency Armen Shahnazaryan said that "Cube" is the first company in Armenia to use the services of the Export Insurance Agency, representing the Information Technology sector, hoping that the cooperation will be of continuous and will serve as a good example for other IT companies.

"The Export Insurance Agency plans to expand its insurance products, especially for IT companies," he added.

"Cube" is engaged in the development of mobile applications, the most popular of which is the mobile photo editor named Pixomatic. The app's own image editing application enables easy editing of pictures by giving them a creative look. The app now has about 500,000 downloads on the AppStore and 450,000 downloads in Google Play.

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