HeavyFinance raises 50 million euros

Lithuanian agricultural investment platform HeavyFinance has raised 50 million euros in funding. This will be used for a private credit fund to advance agricultural decarbonization in Bulgaria, Latvia, Lithuania, Poland and Portugal.

HeavyFinance is a peer-to-peer lending platform where users can invest in agricultural loans with a minimum investment amount of 100 euros. It has financed over 1,700 farmers, with over 50 million euros in agricultural loans.

HeavyFinance has already financed over 50 million euros in agricultural loans.

Last year, the company raised 3 million euros in a seeding round. That capital injection was then used to drive a European expansion. Now, the company has raised an additional 50 million euros.

Debt capital for SME’s

The platform is setting up a fund that will provide mid-term debt capital to small and medium-sized agricultural companies. It will support their efforts to reduce their carbon footprint, through alternative soil-friendly techniques such as using no or less ploughing, less reliance on synthetic fertilizers, and less polluting farming equipment.

‘Farmers are at the forefront of finding innovative nature-based solutions.’

“Farmers are facing unprecedented challenges due to climate change but are also at the forefront of finding innovative nature-based solutions”, said Laimonas Noreika, CEO and founder of HeavyFinance. “This fund represents a crucial step in HeavyFinance’s commitment to eliminating one gigaton of carbon dioxide from the atmosphere by 2050.”