Latvijas Banka grants authorization to CSP Growth Solutions SIA for providing crowdfunding services
In a significant development for the Latvian crowdfunding market, CSP Growth Solutions SIA has been authorized by Latvijas Banka to operate as a crowdfunding service provider. The authorization was granted on September 16.
For businesses seeking to start a business in Latvia by providing crowdfunding services, the first step is to apply to Latvijas Banka. The authorization process, as per Regulation (EU) 2020/1503, requires an application to Latvijas Banka. More information on the authorization process can be found on their website.
CSP Growth Solutions SIA is not the only registered crowdfunding service provider in Latvia. The national register of such providers, maintained by Latvijas Banka, lists all authorized entities. The European Securities and Markets Authority also maintains a comprehensive EU Register of Crowdfunding Service Providers, available on its website, which serves as a valuable resource for businesses seeking to start a business in the crowdfunding sector across the EU.
Crowdfunding service providers maintain an online platform that brings together investors and companies seeking funding. CSP Growth Solutions SIA, for instance, uses a bulletin board for this purpose. The company also offers individual portfolio management of loans, providing investors with the opportunity to manage their investments efficiently.
CSP Growth Solutions SIA proposes the price and/or interest rate of crowdfunding offers. They also have the right to facilitate the granting of loans and provide ancillary services related to crowdfunding. One of the unique features of CSP Growth Solutions SIA is their use of credit scoring for crowdfunding projects.
Businesses are encouraged to seek advice from Latvijas Banka before applying for an authorization to start a business in the crowdfunding sector. The bank offers free advisory support and advice during the entire authorization process. The licensing guide for the authorization process can be found on their website.
The national register of crowdfunding service providers in Latvia is another valuable resource for businesses. It provides a comprehensive list of all authorized entities, helping businesses make informed decisions.
In conclusion, with the authorization of CSP Growth Solutions SIA, the crowdfunding landscape in Latvia continues to evolve. Businesses seeking to enter this market are encouraged to familiarize themselves with the authorization process and the resources available, such as the national register and the advice offered by Latvijas Banka.
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