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    Agricultural Crowdfunding: Latvian Fintech LANDE Raises €550K, Plans Expansion into Romania

    LANDE, a Latvian Fintech providing investment crowdfunding for farms, has raised €550,000 in pre-Seed funding, according to a statement by the firm.

    LANDE states that it will use the money to expand its services into Romania while planning entry into other European markets. The round was led by LATBAN, with the participation of BADideas.fund and additional investment coming from a Seedrs offering.

    LANDA is an investment crowdfunding platform aiming to help small and medium-sized farms gain access to capital leveraging machinery, land or a future harvest as collateral. LANDE anticipates that its service will gain traction due to the current geopolitical situation like the war in Ukraine.

    LANDE offers loans to farms which may generate an aggregate return of up to 14% for investors. According to the website, the average LTV is around 42.2% with a term of up to 24 months.

    LANDE states that Romania accounts for 10% of EU grain and oilseed production, and the country is a significant food exporter in the region. By making financing more accessible for smaller farms to invest in improving their productivity and efficiency, there is potential for increased production output.

    LANDE adds that the demand for agricultural financing is high across Europe, with the total agricultural funding gap for small and medium-sized farms in the region estimated at €46 billion.

    Nikita Goncars, CEO of LANDE, stated:

    “By enabling financial support to small and medium-sized European farms, LANDE is doing more than reducing the regional funding gap – we’re contributing to regional and global food affordability. More than 1700 investors have already registered on the platform to invest in Europe’s agricultural industry. It’s not only a good option to diversify one’s investment portfolio but also a chance to engage in supporting processes that affect billions of people’s lives.”

    Investors may gain access to the platform by having a Single Euro Payments Area (SEPA) bank account. The platform has partnered with LemonWay, a well-known payments Fintech to provide transfers along with KYC and AML requirements.

    In 2021, LANDE announced a merger with the agricultural crowdfunding platform LendSecured, becoming a full-service platform for agricultural financing and crowdfunding.

    LANDE has thus far operated in the Baltics and reports having issued over €4.5 million in loans to date, with €3 million in loans issued in 2022 and the predicted financing volume to reach 15 million EUR in 2023. LANDE states that it has provided financing to over 300 local farmers.

    Agricultural Crowdfunding: Latvian Fintech LANDE Raises €550K, Plans Expansion into Romania Republished from Source https://www.crowdfundinsider.com/2022/09/195664-agricultural-crowdfunding-latvian-fintech-lande-raises-e550k-plans-expansion-into-romania/ via https://www.crowdfundinsider.com/feed/

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