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International Internet Magazine. Baltic States news & analytics Wednesday, 27.05.2020, 05:03

Estonia: Redgate partners invest in Argeld crowdfunding platform

BC, Tallinn, 25.04.2019.Print version
Argeld, a crowdfunding platform that has been focusing mainly on real estate projects so far, was joined by new investors, including partners at the investment banking company Redgate Capital, and the company will expand to financing the growth of small enterprises, reported LETA/BNS.

Among others, those joining as investors include Redgate Capital AS partners Mart Altvee, Aare Tammemae, Valeria Kiisk, Mairo Kasevali and Andrei Zaborski, Argeld said.

"Redgate Capital's partners will contribute to Argeld's development as investors both today as well as in the future. The more specific financial terms of the transaction are confidential," representatives of Redgate told.

Argeld has been operating for four years and mediated 24 mln euros to projects in Estonia and Latvia. Now, the company is planning to expand the possibilities of raising capital and help small and medium-sized enterprises find resources for investments, expansion or financing working capital.

"In a situation where large banks have gradually made loan financing more difficult, smaller companies find it very difficult to finance growth. Argeld gives hard-working companies the opportunity to find suitable backers," Uldis Boldans, member of the management board of Argeld OU, said.

As of right now, the investment portfolio of Argeld contains 12 projects in Estonia and Latvia with a total investment of approximately 24 mln euros and with an average contractual return of 11.6 percent. Argeld's best known projects include the Novira Plaza high-rise and the Das Haus apartment building in the city center of Tallinn.

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