Latvijas Banka regulates and supervises the operation of the financial market and its participants according to Section 5, Paragraph one, Clause 4 of the Law on Latvijas Banka.
By conducting research on the financial market and supervising its participants in Latvia, Latvijas Banka has identified several companies (see the list below) that provide financial services which require a licence from a credit institution or an investment service provider. This also includes service providers that raise funds publicly by concluding loan agreements and offer to earn interest during the term of the loan agreements.
Likewise, it is also possible to identify such service providers that offer investment services or ancillary investment services which comply with the provisions of Section 3, Paragraph four or five of the Financial Instrument Market Law regarding financial instruments, including those engaged in the trading of credit claims or the provision of investment services, but have not received an appropriate licence or authorisation to provide such services.
To protect investors in Latvia as well as to promote the development of the financial market, ensure equal operating conditions for all financial market participants, and maintain a proportional and consistent approach to the regulation of financial services, the Financial and Capital Market Commission (Latvijas Banka is, pursuant to Paragraph 4 of the Transitional Provisions of the Law on Latvijas Banka, the successor to the property, financial resources, rights, and liabilities of the Financial and Capital Market Commission) has previously informed the public*Commission's opinion on commercial activities related to the trading of credit claims issued by lenders on online platforms (in Latvian)
Investment platforms – new participants in the Latvian financial market (in Latvian)
that service providers whose commercial activities are related to the trading of credit claims issued by lenders on online platforms will have to obtain a licence of a credit institution or an investment firm in accordance with the requirements established in the Credit Institution Law or the Financial Instrument Market Law.
Latvijas Banka would like to draw attention to the fact that any activities related to the provision of financial services, including investment services, without the appropriate licence or authorisation are prohibited in Latvia. For a list of all licensed service providers, see the website of Latvijas Banka: Financial market participant register | Latvijas Banka
Latvijas Banka encourages you to verify the right of any service provider to offer the relevant service before engaging in cooperation and to refrain from working with service providers who have not obtained the necessary authorisation or licence.
Please note that investments (money and financial instruments) in companies that lack the relevant licence or authorisation are not protected under the Investor Protection Law. Investing in such companies carries the risk of irretrievable loss.
This list is not exhaustive, will be updated as necessary, and is based on information available to Latvijas Banka at the time of the publication.
List of companies
- Crowdestor OÜ
- Crowd p2p d.o.o.
- Fintown s.r.o.
- Hive5 marketplace d.o.o.
- Income Company OÜ
- IUVO Group OŰ
- Investly Ltd and Investly Technologies OÜ
- Kviku Holding Ltd
- LOANCH (RiseTech Kft.)
- Lonvest Platform d.o.o.
- Robocash d.o.o.
- Scramble OÜ
- Swaper Platform OÜ
- Triple Dragon Funding S.a.r.l.
- Ventus Energy Group OÜ