Davis Siksnans appointed as CEO of Mapon

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Mapon, a leading fleet management solutions provider in Northern Europe, has appointed Davis Siksnans as CEO, following his active role on the company’s board. Siksnans, known for his leadership at Printful and Draugiem Capital, succeeds co-CEOs Ingus Rukis and Andris Dzudzilo, who will now focus on technology and sales roles within the firm. Under Siksnans’ guidance, Mapon aims to further its European market expansion, supported by a recent €3 million bond investment to fuel acquisitions. With a presence across eight countries and over 30,000 clients, Mapon is positioning itself as a key player in the digitizing logistics sector.

Mapon is a fleet management and asset tracking solution provider, headquartered in Riga, with additional offices in Tallinn, Helsinki, and Barcelona. The company offers a range of telematics services including GPS tracking, fuel monitoring, route planning, tachograph data management, and video telematics, aimed at improving the efficiency and security of fleet operations.

With 16 years of experience, Mapon has established a presence on six continents, serving more than 20,000 clients. The company also benefits from its affiliation with Draugiem Group, Latvia’s largest IT group, allowing it to integrate both hardware and software innovations into its offerings.

Mapon has appointed board member Davis Siksnans as the company’s CEO. Former co-CEOs Ingus Rukis and Andris Dzudzilo will continue to serve on the Mapon board and management team as Chief Technology Officer and Chief Sales Officer, respectively.

“I am truly grateful for the trust placed in me by Mapon’s shareholders in appointing me as CEO. It has been a pleasure to witness Mapon’s revenue grow sixfold over the past eight years under the leadership of Ingus Rukis and Andris Dzudzilo, establishing the company as a leading provider of fleet management and tracking solutions in Northern Europe. The transportation and logistics industry is rapidly digitizing worldwide, and I believe Mapon has the necessary elements to become the European market leader. One of my priorities will be strengthening the Mapon team,” says Davis Siksnans.

In addition to his new role as CEO of Mapon, Siksnans will continue to lead the investment company Draugiem Capital. He has been with Draugiem Group, a Latvian technology startup factory, for 15 years, 10 of which he spent as the CEO and co-founder of Latvia’s first unicorn, Printful.

“Together with Andris, we have led Mapon for eight years and have significantly expanded the company’s market share. We need a leader with experience securing substantial investments to guide the company through its next development phase. Davis has already been actively involved in driving various strategic initiatives as a member of the Mapon board for the past two years, and we are pleased that he will now take on the responsibilities of a CEO,” says Ingus Rukis, Mapon’s Chief Technology Officer.

Mapon’s Chief Financial Officer Aleksei Avanessov, who oversees the company’s financial matters and acquisitions, and Edmunds Riekstins, who supervises all Draugiem Group companies, will continue to serve on the Mapon board.

Earlier this year, Mapon attracted private and institutional investors, securing €3 million in bond investments to finance acquisition deals and further expand its operations in Europe. The company plans to list the bonds on the Nasdaq Riga First North multilateral trading facility in the coming months.

Mapon, a Draugiem Group company, is one of Northern Europe’s leading fleet management and asset-tracking solution providers. The company has over 30,000 clients and a broad network of partners across Norway, Denmark, Belgium, Croatia, Poland, Lithuania, and Ukraine, employing more than 200 professionals in offices in Latvia, Lithuania, Estonia, Finland, Denmark, and Spain.

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