Fundwise crowdfunding platform launch in Latvia in June. It is the first and the largest crowdfunding platform in Baltics to offer the opportunity to invest in different projects, receiving, in return, shares in the company, thus becoming a co-owner of the business. Everybody will have the opportunity to support projects developed in Latvia. The main partner of the platform in Latvia is the company Science and Business Professionals Latvia (S/B PRO).
The Fundwise crowdfunding platform was founded in 2015 in Estonia. Fundwise is a meeting place for start-up founders and other companies that have a project suitable for this financing model. “To become part of the platform, the company must have some track record of business success. The platform can also accept a particular project by a company, but in this case, the project should have its own team, business plan and sales strategy. What matters most is the preliminary work in market research in order to prove that the product is in demand. It should be taken into account that this crowdfunding platform is interesting and different through the need to attract as many investors as possible in order to receive funding”, says Gunārs Ķīsis, founder of S/B PRO. He is the manager and expert of the company responsible for project selection, platform launch preparations, and consulting for Latvian companies.
On the Fundwise platform, everyone can become an investor; the only prerequisite is a small amount of money that a person would like to invest. If a company or its product seem promising, it is possible to become the co-owner of the company. The author of the project can apply for funding up to EUR 100,000. When the desired amount has been attained, the money is transferred to the account of the company and the investors become shareholders. It is planned to invest a total of one million EUR in 10 companies by the end of this year.
The Fundwise initiative has also been discussed and supported by the largest participants of the start-up ecosystem in Latvia. According to Jekaterina Novicka, the Chair of the Board of the Latvian Start-up Association Startin.LV, “Fundwise has been a member of our association for almost a year. We were glad to introduce the founders of the company to the Latvian start-up environment. It is also a new business model for Latvia to welcome. We are sure that it will speed up the growth of the financial technology sector here.”
The presentation event of the platform will take place in June with the participation of Fundwise founders, representatives of banks, who will comment on the Latvian investment environment, and the representatives of real estate crowdfunding platform. The exact time and venue of the presentation will be announced soon. However, currently all interested potential investors are welcome to contact the representative of Fundwise platform in Latvia – company S/B PRO (www.sciencebusiness.pro or www.fundwise.lv ).