We are pleased to announce that on 27 August Latvijas Banka issued a crowdfunding service provider licence to FLOW. Congratulations to the FLOW team on this significant achievement!
About FLOW
FLOW is a new crowdfunding service provider on the Latvian market. The company is authorized to provide loan facilitation services (also known as loan-based crowdfunding) and to offer additional services related to crowdfunding. The company is the fifth overall – and the second this year – to be licensed as a crowdfunding service provider in Latvia, it will be able to operate across the European Union market in coordination with Latvijas Banka.
FLOW is a subsidiary of ERST Finance, a well-known company in the Latvian market that provides loans to companies. The experience gained in this segment will support FLOW, the company’s subsidiary, in successfully providing loan-based crowdfunding services.
Our involvement and team
The Sorainen team worked diligently to help FLOW obtain a licence to operate as a crowdfunding service provider in Latvia. The licensing process was significantly facilitated by the swift and proactive approach of the supervisor, Latvijas Banka.
Our team was led by partner Ramona Miglāne and senior Associate Agneta Rumpa, and the project also involved counsel Santa Rubīna; senior associate Jevgēnija Ziņģe; senior associate Reinis Papulis; of counsel Mārtiņš Rudzītis; associate Krišjānis Cercens; associate Alise Igale; and assistant lawyers Gabriela Mora Petroviča, Evija Velvele and Annija Kuzma.
