Riga-based fintech Twino to roll out first crowdfunding round

On the heels of reaching €1-billion mark of loans financed by the company, Latvia-based peer-to-peer lending platform Twino is set to unveil its first fundraising round. It will begin with a crowdfunding campaign later this month.

The funds raised will be used to support product development and the company’s expansion in Europe.

Founded in 2015, the startup offers a mutual lending platform, serving almost 60,000 private investors in 30 European countries. According to the company, it has 58, 000 users from more than 30 countries.

Anastasija Oleinika, CEO of TWINO Investments said: “Having secured an investment brokerage firm license last year to become a full-fledged brokerage, TWINO expansion includes an upgrade into a digital app for European retail investors that will combine all types of assets in one place. Such assets as equities, bonds, CFDs, ETFs, crypto, and others will all come with an Impact score and offer a personalised approach.”

Armands Broks, founder of TWINO Investment said: “While the number of retail investors has doubled since 2020, retail investor participation still makes up only 5-7% of total trading volume in Europe, compared to more than 25% in the U.S. There’s a huge market opportunity that lies here.”