Twino has reached its €1bn (£850m) funding milestone, six years after the platform was launched.
The European peer-to-peer lending platform is now planning to launch its first fundraising round, which will begin with a crowdfunding campaign some time in June.
“€1bn is a significant milestone not just for the Twino Investments team, but also for our community,” said Anastasija Oļeiņika, chief executive of Twino Investments.
“It embodies the trust put into us by our growing community of 58,000 investors as well as many efforts put into developing our product and delivering on our promise of customer service and investment opportunities.”
Oļeiņika added that Twino will now focus on growth, and will start offering regulated financial investments within the next few weeks as it eyes its next €1bn.
“With a focus on growth, we at Twino are not only aiming to reach the next billion but also have worked on bringing more value to investors,” she said.
“Within a few weeks we will start offering investment through regulated financial instruments, which will mark the end of the transition period by becoming a fully-fledged brokerage firm while continuing the work on new product offering.”
Twino’s strategy is to become a leading investment brokerage for European retail investors.
The company won its investment brokerage license in Latvia last year. Earlier this year it was revealed that Twino had stopped accepting new UK clients due to regulatory issues.
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