31 August 2021
PeerBerry is receiving the crowdfunding license in Lithuania
PeerBerry, the second-largest investment platform in Europe, is in the final stage of receiving a crowdfunding license in its home market in Lithuania. The platform will receive the crowdfunding license before the end of October this year. After the license is received and all necessary development to run operations under this license is done, new real estate projects and business loans will be offered to PeerBerry investors under the crowdfunding license. This part of the PeerBerry business will be supervised by the Central Bank of Lithuania – one of the most reputable regulators in the EU.
“Crowdfunding license is an EU level license – from 10 November 2021, it will be applied directly across the EU. This license is a part of our global strategy. It opens a new chapter for us to develop real estate and business financing at a higher level and to provide our investors with more investment opportunities in a highly regulated environment” – says Arūnas Lekavičius, CEO of PeerBerry.
“The share of real estate projects on our platform is constantly growing. More and more real estate projects are being successfully developed by our existing partners Lithome and SIBgroup. Aventus Group companies are also rapidly expanding their real estate business, although no Aventus Group real estate project has been funded through PeerBerry to date. We plan to expand this part of PeerBerry’s business by offering our investors more opportunities to invest in new real estate projects, including real estate projects developed by Aventus Group. Operating under the crowdfunding license with long-term loans, we intend to offer a secondary market service to our investors” – explains the CEO of PeerBerry.
Investors on crowdfunding platforms, meanwhile, will benefit from an aligned and enhanced investor protection framework, based on:
- clear rules on information disclosures for project owners and crowdfunding platforms,
- rules on governance and risk management for crowdfunding platforms,
- strong and harmonized supervisory powers for national authorities overseeing the functioning of crowdfunding platforms.
The EMI license is on its way
Currently, PeerBerry is also in the process of receiving an EMI license. EMI license will expand PeerBerry’s business development opportunities, such as becoming a payment provider and offer investors new products in the future.
Cooperation with one of the most progressive regulators in Europe – the Central Bank of Lithuania
Holding the crowdfunding and the EMI licenses, PeerBerry will be under the regulation of the Central Bank of Lithuania, which is responsible for the supervision of the financial sector in Lithuania, and which ranks among the most progressive regulators internationally.
Lithuania is the #1 largest fintech hub in the EU in terms of licensed companies (Source: EUCLID Register, European Banking Authority, 2020) and the #10 best country in the world for fintech (Source: Global Fintech Index 2021). In Lithuania, the number of FinTech companies is growing by 20-30% a year.
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