HeavyFinance reaches €40 million milestone

Lithuanian agricultural investment platform HeavyFinance has financed 40 million euros in agricultural loans in Europe. Almost 1,400 crowdfunding loans have been financed. Most of the funded loans are situated in Lithuania.

HeavyFinance is a peer-to-peer lending platform where users can invest in agricultural loans with a minimum investment amount of 100 euros. According to the company, loans have a 13.16 percent return on average.

In March this year, the platform raised 3 million euros in a seed funding round. The funding will be used for expansion into new markets. It wants to generate 250,000 carbon credits from 100,000 hectares of agricultural land in Europe by the end of 2024.

9,000 users

According to the platform, it now has an investor community of more than 9,000 users. They come from countries like France, Germany, Spain and the United Arab Emirates. Most of the financed loans come from Lithuania (66.62 percent). The Polish market also has a fair share of the platform’s total (14.36 percent). It is followed by Bulgaria (9.2 percent), Portugal (5.18 percent) and Latvia (4.59 percent).

The platform’s interest rate is caused by the high profitability of Green Loans.

With its 40 million euros financing in 1,400 different projects, investors have been experiencing relatively high interest rates. Its current average return is 13.16 percent, which is caused by the high profitability of the platform’s Green Loans. Some investors even experienced an interest rate of 33.85 percent in June.

‘Crucial in tackling climate change’

“We are proud to have hit such a milestone, and look forward to continuing our efforts in global outreach. International impact investments and the financing of sustainable practices is proving a crucial way to tackle climate change and is key to our commitment of removing one gigaton of carbon dioxide emissions by 2050, benefiting everyone”, said Laimonas Noreika, co-founder.