Lande has obtained its pan-EU crowdfunding licence, enabling it to develop its providing throughout the bloc.
The agricultural lending platform stated that the Supervision Committee of Latvijas Banka gave its authorisation on 7 February.
The licence provides Lande permission to facilitate the granting of loans to agricultural companies in addition to present associated further companies, together with managing particular person investor portfolios, utilizing a bulletin board, making use of credit score scores to printed tasks, and suggesting the pricing and/or rates of interest of crowdfunding gives.
Learn extra: EU platforms welcome new crowdfunding guidelines
Lande already operates within the Latvian, Lithuanian, and Romanian markets, however is now trying to develop additional throughout Europe.
“We are proud and grateful to have obtained the authorization after all of the exhausting work put in by our complete staff in latest months,” stated Lande’s chief govt Nikita Goncars.
“This licence energizes us to proceed our mission of bettering entry to finance for small and medium EU farmers whereas producing nice alternatives for traders. We’ve already financed tasks price €20m (£17m) and generated €1m in revenue for our traders and, with an ever-growing group, we’re able to considerably develop our attain.”
Learn extra: Lande pauses secondary market transactions
The European Crowdfunding Service Suppliers Regulation (ECSPR) was launched in November 2021 to harmonise P2P lending and crowdfunding throughout the continent.
Learn extra: Agricultural P2P features traction throughout Europe
