Tagged: latvia

Loan Marketplace Mintos Tops £6 Million on Crowdcube: CEO Martins Sulte Shares Insight into Platform Operations

Mintos, a European marketplace for loans, launched a securities crowdfunding offer on Crowdcube earlier this week. The equity sale quickly surpassed its £1 million hurdle and as of today, the offering has raised over £6 million backed by more than. In the process, Mintos set… Read More

Latvian P2P Lender Grupeer Claims It’s Still Working with Debt Collection Partners to Ensure Repayments

Latvia-based peer to peer (P2P) lender Grupeer noted on November 5, 2020, that it would like to inform its users about the different actions it has taken (as a company) to meet its obligations towards platform investors. Grupeer’s management stated in a blog post that… Read More

Lending Marketplace Mintos to Crowdfund on Crowdcube

Mintos, a marketplace for investing in loans that reports over 340 000 investors from 63 countries, is planning a securities offering on Crowdcube later this month. According to a release, Mintos will offer investors the opportunity to acquire a limited amount of shares of the company,… Read More

Latvian P2P Lender Grupeer Confirms that Recollecta has Taken Over its Debt Collection, Management of Repayment Process

Latvia-based peer to peer (P2P) lender Grupeer noted on October 7, 2020 that Recollecta has taken over its debt collection and management of the repayment process. This should help speed up repayments to the platform’s investors, the lender claims. The Grupeer team confirmed that they… Read More

Authorities Order Latvian P2P Lender Grupeer to Stop Issuing Statements About Its Business, After it Paused Activity in April due to COVID

Latvia-based peer to peer (P2P) lender Grupeer noted on August 31, 2020, that it had provided an update regarding the current status with the repayments and debt collection processes on its platform. The Grupeer team had confirmed that, as its clients already know, since April… Read More

Latvia’s P2P Lender Grupeer Provides Update Regarding Current Repayment Status and Debt Collection Processes

Latvia-based peer to peer (P2P) lender Grupeer has provided an update regarding the current status with the repayments and debt collection processes on its platform. The Grupeer team noted that, as its clients already know, since April 2020, the lender had suspended its “economic activity.”… Read More

European P2P Lender Mintos has Updated its Auto-Invest Product to Give More Choices to Platform Investors

Mintos, a European peer to peer (P2P) consumer lender, has reportedly made changes to its auto-invest product, in order to give investors more choices when it comes to the level of risk they’d like to take. Mintos allows investors to back loans from originators via… Read More

European P2P Consumer Lender, Mintos, Financed Record €2.8 Billion in Loans in 2019, Generates Nearly €1 Million in Net Loss

Mintos, a global loan marketplace, has reported had a record year for new investors and platform lending.  Mintos has operations across Europe as well as Africa, Asia and the Americas. The peer to peer (P2P) lender revealed that it financed €2.8 billion in loans via… Read More

One in Five Latvian Startups are Fintech Firms, Nearly 90% of Startups to Hire More Staff, Despite COVID-19 Challenges: Report

  One in five or 20% of startups in Latvia are part of the nation’s Fintech sector, according to a report released on July 24, 2020. Swedbank Latvia, a large retail bank, teamed up with the Latvian Startup Association in order to publish a Fintech… Read More

Slam. Report States that Swedbank and SEB Enabled Fraud Networks Including Failed P2P Lender Envestio

A new report claims that established banks Swedbank and SEB enabled “suspected fraud networks” to operate in the Baltics and mentions bankrupt peer to peer lending platform Envestio by name. Envestio, and similar platform Kuetzal, recently filed for bankruptcy in Estonia. Earlier this year, both… Read More

What’s Going on with Peer to Peer Lender Grupeer?

  A couple of months ago Grupeer, a peer to peer lender ostensibly based in Latvia, shut-down all lending and allegedly halted all investor redemptions. In multiple statements, Grupeer management claimed the COVID-19 pandemic had harmed its ability to operate. At the end of March,… Read More

Led by Twino, Latvia Adopts Crowdfunding Guidelines

The Alternative Financial Services Association of Latvia has published Latvia’s Crowdfunding Industry Guidelines. The association seeks to provide industry rules to foster a transparent and sustainable sector of finance. Twino, a well-established peer to peer investment platform, is the first crowdfunding operator to adhere to the… Read More

P2P Lender Twino Launches Social Fundraising Initiative in Response to COVID-19

  Peer to peer lender Twino has announced a new social investment instrument engendered by the COVID-19 pandemic. The Riga based Fintech said the first social project will be in collaboration with Latvia’s Children’s Clinical University Hospital (CCUH), to facilitate convenient and safe remote consultations for… Read More

Peer to Peer Lending Report: Majority of Investors Remain Optimistic During COVID-19 Crisis

  Mintos, a top marketplace for debt investors in Europe, has recently conducted research amongst their audience seeking to gain insight into the impact of the COVID-19 pandemic. According to Mintos, the majority of crowdlending investors (65%) remain optimistic even in light of the ongoing… Read More

P2P Lending Platform Grupeer Says it May Take Up to 2 Years to Stabilize After COVID-19 Pandemic

  Earlier this month, Latvia-based peer to peer lender Grupeer announced it was pausing operations due to the COVID-19 pandemic. In a blog post, Grupeer founder Alla Kiska stated said that the Coronavirus had compelled the platform to halt operations as before and told investors… Read More

Challenger Bank Zelf to Launch its own Digital Banking Software that will work only via Popular Messaging Apps like WhatsApp

Challenger Bank Zelf is reportedly planning to introduce its digital banking offering which will operate exclusively through widely-used messaging apps. The Latvian Fintech firm claims that it has already signed up more than 58,000 users, who are waiting for the official launch of Zelf’s virtual… Read More

Online Lender TWINO Applies for Investment Brokerage License

Peer to peer lending platform TWINO is the latest online lender planning to expand its portfolio of services offered to its customers. According to a release, TWINO has applied for an investment brokerage license in Latvia. It was not immediately clear which additional services the… Read More

Digital Banking: Online Lender Mintos Pursues European Investment and e-Money Licenses

Mintos, a global loan marketplace claiming over a quarter of a million investors, is pursuing both a investment firm license and an e-money institution license, according to a release from the company. Mintos has applied to the Financial and Capital Market Commission (FCMC) in Latvia… Read More

Grupeer: After Halting P2P Lending Operations, Management Complains that Investors are Going Straight to Borrowers

Last week, Crowdfund Insider reported on Latvia-based peer to peer lender Grupeer’s decision to halt all lending due to the impact of the COVID-19 pandemic. CI quoted the company’s decision: “Regretfully, we are forced to inform you that in the current circumstances it is not… Read More

Nordic-Baltic Banking Group, Swedbank, to Sponsor Global Hackathon to Find Solutions to Prevent Further Spread of Coronavirus

Swedbank AB, a Nordic-Baltic banking group headquartered in Stockholm, Sweden, is reportedly sponsoring a global hackathon, which will try to find solutions to deal with the  deadly Coronavirus (COVID-19) outbreak. The event, which is scheduled to take place between April 9-12, 2020, aims to be… Read More

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