Signet Bank, Latvia’s leading investment bank, starts cooperation with Capitalia, Latvia’s largest licensed collective finance provider, becoming an investor in Capitalia collective finance platform. Signet Bank will finance loans that suit the bank’s preferred risk profile alongside other investors on the Capitalia platform. Over the next two years, Signet Bank is planned to invest up to EUR 5 million in loans to Latvian SMEs through the Capitalia platform. Signet Bank is the first institutional investor to become an investor in the Capitalia crowdfunding platform.
“Signet Bank has always been committed to providing access to finance for local companies, supporting their growth and development. We value Capitalia long-standing experience in financing SME’s, which is why we chose Capitalia as our cooperation partner. By joining Capitalia as the first institutional investor, we are expanding access to finance for small and medium-sized companies, thus making a significant contribution to the development of the Latvian economy. We have a long history of promoting innovation in the Latvian financial sector and I am convinced that cooperation with Capitalia will be a valuable and new financial support for Latvian companies, helping them to reach new heights and increase their competitiveness,” said Roberts Idelsons, Chairman of the Board of Signet Bank.
Signet Bank is an important institutional investor and the attraction of such an investor also opens further opportunities for Capitalia to attract other professional investors for faster project financing and development of Baltic companies. “Attracting a well-known Latvian investor like Signet Bank is an important step in Capitalia development. This cooperation will help us to significantly speed up the process of attracting investments and to put the funds at the client’s disposal faster. We appreciate this new cooperation and Signet Bank openness to innovative financial solutions while ensuring comprehensive risk assessment,” comments Juris Grišins, CEO of Capitalia.