Printful appoints Nils Melngailis as an Independent Director of the Board
Jul 11, 2021
Charlotte, North Carolina—Following the recent announcement of the investment from Bregal Sagemount, Printful continues to strengthen its Board of Directors and has appointed Nils Melngailis, an executive with substantial international experience in a broad range of industries, as an Independent Director of the Board.
“We’re delighted to welcome Nils Melngailis on board. I’m confident his international expertise and experience in financial markets and the tech industry will help us with our ongoing global expansion. Adding the perspective of an independent Board member will help us enhance corporate governance practices,” comments Davis Siksnans, CEO and Co-founder of Printful.
Nils Melngailis will join the Printful Board of Directors alongside CEO and Co-founder Davis Siksnans, COO Zane Levsa, Chairman of the Board and Co-founder Lauris Liberts, as well as the newest member of the board and the representative of Bregal Sagemount—Adam Fuller. As a board member, Melngailis will support the shareholders and management team in strategic matters, developing sound corporate governance practices, and preparing for potential capital markets transactions. He'll also serve as the Chairman of the company’s Audit Committee.
“I’ve followed the development of Printful closely over the years and look forward to joining the team at this exciting moment in the company’s history. With a strong financial partner and increasing market opportunities across the globe, I believe Printful will play an even more significant role in the transformation of ecommerce in the years to come,” explains Nils Melngailis. He’ll also maintain his position as the Chairman of the Supervisory Council of Luminor Bank, a Blackstone portfolio company and one of the leading banks in the Baltic region.
Nils Melngailis is a highly experienced manager and advisor to companies, governments, and financial investors. He has served as an Operating Executive at Centerbridge Partners, Head of Financial Services at Alvarez & Marsal, and has been a Senior Advisor to the Blackstone Group. Nils Melngailis began his career as a corporate finance partner at PWC and later at IBM, leading the Business Intelligence practice in EMEA. He has led extensive transformation efforts as CEO at Lattelecom and later, during the financial crisis, he restructured Parex bank to establish Citadele bank. He currently serves on the boards of Qualco, a European software company, and PQH, an asset manager in Greece.
Nils Melngailis studied at Boston College and the Fletcher School of Law and Diplomacy. He’s currently a Fellow Professor at the Institute of Finance and Technology at University College London (UCL), where he lectures on venture capital, private equity, and fintech. Nils Melngailis is a Fulbright scholar and serves as a Senior Expert in the Monetary and Capital Markets Department at the International Monetary Fund (IMF).
Printful recently announced a $130 million non-control investment from Bregal Sagemount, a leading growth equity firm. The financing established Printful as the first privately owned company with Latvian roots to achieve unicorn status with a valuation of above $1 billion.
Printful is an on-demand printing and fulfillment company that helps people turn their ideas into brands and products. The company fulfills and ships custom clothing, accessories, and home & living items for online businesses. In 2020 the company hit a revenue milestone that exceeded $200 million and has recently become the first unicorn company (valued at over $1 billion) with Latvian roots. Since its founding in 2013, Printful has been trusted to deliver over 34 million items and has scaled to a team of over 1,800 people across eight in-house fulfillment centers around the world.