The pulse of Latvian startup scene: week #21

#StartinLatvia women among the world’s leading startup founders, new automobile safety system to be presented in France, Twino posts rapid growth, and more.

Three women from Latvia listed among 100 best female startup founders in Europe

German project The Hundert has released the latest 100 Female Startup Founders Europe ranking, which this year also includes three representatives from Latvia: Alise Semjonova (, Ksenija Rostova (InSelly) and Anna Andersone (Froont).

Best female-founded startup in Latvia selected through competition

Ilze Zaharāne, a co-founder and the head of the company CheeksUp, was selected as the winner of the competition Start Tel Aviv 2016 Latvian final, organized by the Israeli Embassy in Latvia and the Latvian Startup Association.

Now Ilze and her socially conscious project – an intelligent face motion game for kids – will have the opportunity to visit Israel and participate in the DLD Tel Aviv Innovation Festival, a conference financed by the Israeli government bringing together women from all over the world to promote their startup projects.

Winner of space technology hackathon Act in Space announced

The winner of the space technology hackathon Act in Space has been selected out of seven contenders – the Terrestrial team made up of programmer Tatjana Solovjova and Riga Technical University student Mihails Afoņins. Their project, a new automobile safety system, will represent Latvia at the international final of the Act in Space contest in Toulouse, France, on June 29.

Twino – one of the fastest-growing peer-to-peer lending platforms in Europe

EUR 22.1 million in loans was funded through Latvia-based peer-to-peer lending platform TWINO in its first 12 months since the launch. The volume of loans funded in the first year of operations makes TWINO one the fastest growing platforms in Europe.

At the moment, there are 2,578 active investors on TWINO, mostly from Europe. The most active investors come from Germany (22% of secured investments), followed by Estonia (17%), Latvia (16%), and the UK (7%). Investing on TWINO allowed investors to earn more than EUR 325,000 in interest during the first year of platform’s operations.