Tuesday, April 14, 2026

Headlines

investment

BlockBen will issue the first cryptocurrency in Latvia

The financial technology company BlockBen, which very recently received a license from the Bank of Latvia to provide crypto-asset services, will issue the first patented cryptocurrency CrowdX in Latvia and the European Union for the crowdfunding service provider SIA CrowdedHero. This cooperation marks a new era for blockchain-based crowdfunding in the European Union, since in Latvia no such token has been issued so far – neither before nor after […]

The war in Ukraine – not only devastation, but also a business opportunity

Russia’s full-scale invasion of Ukraine has created for Latvia not only a substantial challenge in increasing its military capabilities, but also the necessary conditions for our military industry to develop rapidly. The company Belss and its owner Tālis Ziediņš seem to have been the best prepared for this turn of events and are now reaping the fruits of 30 years of work since the company’s founding. At present, Belss and its partner Eraser’s drones […]

1 of 1000: An innovative Latvian technology company joins a prestigious European programme

The Latvian innovation startup SIA P-Agro Minerals was the only company from Latvia to be included in the European Commission’s Women TechEU programme, where only 40 out of 1107 applicants received funding of 75,000 euros – surpassing the 4% success threshold. Women TechEU is a two-year European Union funded initiative that supports women – founders and managers of knowledge-intensive companies across Europe. The aim of the programme is to create gender […]

A loan of 19 million is granted for the further development of the Verde office complex

Rietumu Bank has issued a 19-million-euro loan for the further development of the Verde business quarter (1 R. Hirša Street, Riga), which envisages the construction of a new C building in addition to the two existing ones, where office space is already fully leased. The new stage of Verde’s development is expected to be completed in the second quarter of 2027. Verde is being developed by the investment management company Capitalica Asset Management, […]

Fokker’s hydrogen plans in Latvia fizzled out along with Gauss’s dismissal

At the beginning of the week, Fokker Next Gen Latvia, which had previously announced that it would start work on the development of hydrogen aircraft engines in the Liepāja SEZ, initiated a liquidation process. The company’s management is not providing comments on this decision, but Inc. has obtained information from unrelated sources indicating that, among other things, the grand project has fallen through because the head of the national airline, Martin Gauss, left his position. One of Fokker […]

A top 25 million euro residential design center

An unique project is being created in Riga – Aura Quarter, which will be the largest interior, design, and home furnishing retail quarter in the Baltics. It will unite more than 60 different brands and service providers, with the total area of the buildings in the first 2 stages of the quarter reaching 15,600 m², and the third stage will add approximately another 7,000 m². The total project investment amounts to 25 million euros, with financing provided by Bigbank. Aura […]

INDEXO Bank’s loan portfolio exceeds 50 million euros in November

By the end of November, AS INDEXO Bank reached its highest total loan portfolio volume so far – 50.5 million euros, issuing new loans in the amount of 6.3 million euros over the last month. Market transaction statistics show that since August of this year, 70% of all mortgage loans refinanced in Latvia have been refinanced specifically at INDEXO Bank. At the end of November, the number of INDEXO Bank’s clients […]

Corporate lending in Latvia is experiencing one of the fastest increases in the euro area

After a prolonged period of caution, the corporate lending market in Latvia is showing a convincing recovery in 2025, driven by falling interest rates and entrepreneurs’ growing willingness to invest in development. The corporate lending market has become one of the fastest growing in the euro area, and non-bank financial service providers such as Cityfinances play a crucial role in reducing the financing gap in the SME segment. In the Bank of Latvia’s “Financial Availability Review […]

Žiemelis: the opportunity to be the first is very attractive

The Dublin-based Avia Solutions Group is the world’s largest ACMI (aircraft, crew, maintenance and insurance) services provider. The group operates in more than 70 countries and has offices in Lithuania, Dubai, Dublin and other cities worldwide. The group consists of more than 200 companies that provide a wide range of aviation services, including aircraft maintenance and repair (MRO), […]

Revolut’s valuation has reached 75 billion USD

Today, the financial technology company Revolut announced the completion of a share sale, valuing the company at 75 billion USD. The 75 billion USD valuation is supported by strong business momentum and solid financial results. Revolut’s 2024 revenues increased by 72% to 4.0 billion USD, while profit before tax rose by 149% to 1.4 billion USD. This trend continued […]