Latvijas Banka issues authorisation to provide crowdfunding services to SIA LANDE Platform
SIA LANDE Platform is registered with the register of crowdfunding service providers with the right to facilitate the granting of loans and provide related additional services: manage the investor loan portfolio individually, use the bulletin board, apply a credit score to crowdfunding projects and suggest the pricing and/or interest rate of crowdfunding offers.
Upon obtaining authorisation, SIA LANDE Platform has expressed its intention to provide crowdfunding services also in other European Union Member States.
A crowdfunding service provider is a company that maintains an online platform bringing together investors and a company intending to raise funding for business based on its proposed crowdfunding project. To provide crowdfunding services, a company has to obtain authorisation in line with the uniform European Union framework: Regulation (EU) 2020/1503.
The crowdfunding services framework offers the providers of this service equal opportunities within the European Union Member States regardless of the country where the service provider has obtained authorisation, i.e. enables passporting.
Latvijas Banka maintains on its website the national register which includes the crowdfunding service providers that have obtained authorisation in Latvia. Meanwhile, the European Securities and Markets Authority maintains a comprehensive register of crowdfunding services providers in the European Union which is published on its website. This register contains information on the services that the particular service provider is entitled to provide and on the Member States where it may operate.
The businesses wishing to obtain authorisation to provide crowdfunding services in Latvia should submit an application to Latvijas Banka. Latvijas Banka provides support and advice to businesses during the entire process of obtaining authorisation. More information on obtaining authorisation is available in the licensing guide.