On 3 March, the Supervision Committee of Latvijas Banka issued an authorisation to provide crowdfunding services to FUNDAUS SIA.
FUNDAUS SIA is registered with the Register of Crowdfunding Service Providers and has the right to facilitate the granting of loans and offer additional services related to crowdfunding: application of credit scoring to crowdfunding projects, suggesting the pricing and/or interest rates for crowdfunding offers.
A crowdfunding service provider is a company that maintains an online platform bringing together investors and companies that intend to raise funding for business and propose the projects to be funded. To provide crowdfunding services, an authorisation is required pursuant to Regulation (EU) 2020/1503.
On its website, Latvijas Banka maintains the national register of crowdfunding service providers that have received an authorisation in Latvia. Meanwhile, the European Securities and Markets Authority maintains a comprehensive European Union register of crowdfunding service providers, which is published on its website.
Businesses wishing to obtain an authorisation to provide crowdfunding services in Latvia should submit an application to Latvijas Banka. More information on obtaining authorisation is available in the licensing guide on the website of Latvijas Banka. Before businesses apply for the above-mentioned authorisation, Latvijas Banka offers free advisory support, as well as advice and support during the entire authorisation process.