Letsinvest Has Raised Over One Million Euros In The First Quarter
Lithuanian fintech startup Letsinvest has made its mark on the Lithuanian fintech map. During the first three months of operations, the co-investment platform has attracted more than 1 million euros of capital to real estate projects. The company plans to reach 2 million euros invested through the platform by the end of March.
According to the founders, Letsinvest was created with a vision to be an investment boutique where the quality of the projects is valued more than the quantity. The team of real estate and finance professionals constantly evaluates the projects and proposes only the ones that meet the standards. On the Letsinvest platform, one can find real estate backed investment opportunities with a small-to-medium investment horizon (12-24 months) and up to 10% return per year.
Letsinvest has released its first co-investment opportunity on the 8th of December, 2020. It was a co-working and co-living space Tech Spa developed by a modern workplace network Tech Zity. The project was warmly welcomed by the investors who co-financed the 340 thousand euros deal and will receive a fixed 7% yearly return. In total, there were 27 investors with an average investment of 12.5 thousand euros.
After successfully closing the first project, the platform released a second co-investment opportunity – a private neighborhood Ežero Vilos in Vilnius. Given the size of the project, the capital was decided to be raised in several rounds. The first round of 800 thousand euros was successfully closed at the start of February, while the second round is active currently. Co-investors will earn up to 8.5% yearly return depending on their investment amount. In total, the project is expected to receive around 4 million euros of investment.
As a market disruptor, Letsinvest challenges the traditional way to receive financing for real estate project development which is banks or credit unions. The platform serves as a tool for investors to choose the opportunities they prefer while the project owners secure financing in flexible conditions. The platform accepts investments from both individuals and companies who wish to reinvest retained earnings.
The Letsinvest platform is operated by the 8 stars, UAB, which is recognised by the Bank of Lithuania and included in the public list of crowdfunding platforms.