Lande has received its pan-EU crowdfunding licence, enabling it to expand its offering across the bloc.
The agricultural lending platform said that the Supervision Committee of Latvijas Banka gave its authorisation on 7 February.
The licence gives Lande permission to facilitate the granting of loans to agricultural businesses as well as provide related additional services, including managing individual investor portfolios, using a bulletin board, applying credit scores to published projects, and suggesting the pricing and/or interest rates of crowdfunding offers.
Read more: EU platforms welcome new crowdfunding rules
Lande already operates in the Latvian, Lithuanian, and Romanian markets, but is now looking to expand further across Europe.
“We are proud and grateful to have received the authorization after all the hard work put in by our entire team in recent months,” said Lande’s chief executive Nikita Goncars.
“This licence energizes us to continue our mission of improving access to finance for small and medium EU farmers while generating great opportunities for investors. We’ve already financed projects worth €20m (£17m) and generated €1m in profit for our investors and, with an ever-growing community, we’re ready to significantly expand our reach.”
Read more: Lande pauses secondary market transactions
The European Crowdfunding Service Providers Regulation (ECSPR) was introduced in November 2021 to harmonise P2P lending and crowdfunding across the continent.
