Tagged: estonia

Kuetzal and Envestio Update: Group of Impacted Investors Look to Mitigate Collapse of Estonian Peer to Peer Lending Platforms

Earlier this year, to Estonia-based peer to peer lending platforms, Envestio and Kuetzal, collapsed leaving investors holding empty promises and possibly a complete loss. At the end of January, the Estonian Police and Border Guard posted a notice asking what may end up being a… Read More

Kuetzal and Envestio P2P Platform Failure Impacted Thousands of Investors

Earlier this year, two Estonian based peer to peer lending platforms vaporized in a burst of questions and allegations of possible fraud. The demise of Kuetzal and Envestio tarnished the image of Estonia, a country seeking to burnish its Fintech credibility by facilitating early-stage financial… Read More

Black Eye: Estonia Hit by Shuttered P2P Investment Platforms, Impacted Investors Look for Answers

Last month, Crowdfund Insider reported on two debt-based investment platforms based in Estonia closing their doors leaving investors with many questions and apparently no money. Envestio tweeted that the problem had to do with a “well-planned set of actions aimed to cause significant financial and… Read More

Fintech TransferWise Explains How it Can Assist Estonian E-Residents in Establishing Business Operations

Estonia’s e-residency program is a government-backed digital identity initiative that allows individuals and companies to launch a new business in the European nation, even if they do not physically reside there. For example, if you are a German citizen, and are living in Singapore and… Read More

European Crowdfunding Network Reports Two Estonian Crowdfunding Platforms to Enforcement Authorities as Questions Arise Regarding Withdrawal of Funds

The European Crowdfunding Network (ECN) has reported two Estonian debt-based crowdfunding platforms to the relevant regulatory authorities in light of numerous complaints received by platform users. According to ECN,  Kuetzal and Envestio, both lending platforms, may be in trouble: “ECN has received a large number… Read More

Hong Kong Crypto Exchange CoinEx Receives Operating License in Estonia

CoinEx, a global and professional cryptocurrency exchange service provider, announced on Friday it received an operating license from the Estonian Financial Intelligence Unit (FIU). The Hong Kong-based platform is now a fully regulated cryptocurrency exchange under the Estonian laws and is now able to provide… Read More

AML Software Developer Salv Secures $2 Million in Seed Round Led by Fly Ventures, Passion Capital and Seedcamp

Salv, an anti-money laundering (AML) company established by former employees at Skype and TransferWise, has secured $2 million via a seed funding round. Salv’s investment round was led by Fly Ventures, Passion Capital and Seedcamp. N26 founder Maximilian Tayenthal, former Twilio CTO Ott Kaukver, and… Read More

Estonia-based Crypto Trading Platform DX.Exchange Halts Operations Following a Petition Submitted by Company Employees

The company behind an Estonia-headquartered, Nasdaq-powered digital currency exchange DX.Exchange is reportedly halting its operations, after a petition submitted by its workers. CX Technologies, the Israeli firm that had been managing DX.Exchange’s operations, entered bankruptcy after 78 employees filed a petition against the exchange with… Read More

EstateGuru Reports Having Financed €153 Million in Loans since 2014

EstateGuru, an online lender for short-term, property-backed loans for SMEs, is reporting having financed 1040 loans for a total amount of €153 million since 2014. Geographically, 68.27% of them were in Estonia, 17.92% in Latvia, 12.24% in Lithuania, 1.37% in Finland, 0.1% in Portugal, and 0.1%… Read More

European P2P Lender for Property Backed Loans Estate Guru Launches Secondary Market

Pan European peer to peer lender EstateGuru has launched a secondary market for their loans, according to a note from the company. Investors may now buy and sell the securities online. EstateGuru is a peer to peer market for short term, property-backed loans for SMEs…. Read More

President of European Central Bank Nixes Digital Currency for Estonia, “Currency of Eurozone is Euro”

The president of the European Central Bank, Mario Draghi, has proscribed Estonia’s plan to issue a state-managed digital currency (or Central Bank Digital Currency – CBDC): “I will comment on the Estonian decision: no member state can introduce its own currency…The currency of the euro… Read More

EstateGuru: “We are going to put Estonia on the map,” Seeks to Carve Out €5 Billion of European Real Estate Financing Market

EstateGuru, a crowdfunding platform based in Estonia, is out with a release predicting it will claim €3-5 billion of the European real estate financing by 2025 EstateGuru adds that approximately 70% of SMEs lack access to credit and this is a major constraint to their… Read More

EstateGuru, a Marketplace for Short-Term, Property Backed Loans, Launches in Portugal

EstateGuru, an online marketplace for secured, short term loans, has launched in Portugal, according to a note from the company. EstateGuru is now providing crowdfunding services in six different countries including Estonia, Latvia, Lithuania, Finland, and Spain. EstateGuru said by opening in the Portuguese market… Read More

Property Platform EstateGuru Added to Bank of Lithuania List of Approved Crowdfunding Operators

Short term real estate financing platform EstateGuru has been added to the list of approved crowdfunding platforms by the Bank of Lithuania, according to a release. The company has been operating since 2014, connecting an international group of investors and businesses to real estate backed… Read More

Investors Using EstateGuru May Now See Their Investments on LHV Internet Bank

In an example of Fintech cooperation, EstateGuru investors may new monitor their investments on LHV internet bank. EstateGuru is a short term property loan crowdfunding platform. LHV is the largest domestic financial group in Estonia. According to EstateGuru, on the summary view of the online… Read More

Property Lending Platform EstateGuru Receives Investment from Speedinvest f

EstateGuru, an Estonian lending marketplace dedicated to cross-border property finance, has received the backing of Speedinvest f – a fund launched by Speedinvest, targeting Fintech investments across Europe. In a release, EstateGuru said that Speedinvest will support its geographic expansion across Europe. The amount of… Read More

New Estonian Government Proposes Tighter Anti-Money Laundering Restrictions, Higher Standards for Crypto Businesses

For the past few years, cryptocurrency businesses have been flocking to Estonia, attracted by the relaxed regulatory climate the country provided as it vied to be a leader in digital banking in the Baltics. According to ERR News: “The rapidity and ease with which foreign… Read More

Quick Q&A: Exscudo Founder & CEO Andrew Zimine Highlights New Credit Card, Growth Plans & Transparency

Exscudo, a blockchain platform which helps users to manage, hold and transfer digital as well as traditional financial assets, recently announced an upcoming credit card linked to the Channels app that will support support EUR, BTC and EON, with plans to add BCH, EHT, ETC,… Read More

P2P Lender EstateGuru Hires former Traditional Bankers

Peer to peer property lender EstateGuru says it has recently made two “significant’ hires for their executive team. EstateGuru says they have appointed the former head of retail credit risk at Coop, Andres Luts, to fill the position of Baltic Risk Manager. Additionally, Mihkel Roosme,… Read More

Accused of Laundering $234 Billion, Danske Bank Ceases Most Banking in Russia and Baltic Countries

Close on the heels of Danske Bank being ordered out of Estonia this week for its alleged role in laundering funds totaling $234 billion USD for Ukrainian, Azerbaijani and Russian clients, Danske Bank has now announced it will be, “clos(ing) down its banking activities in… Read More

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