On behalf of the whole TWINO team, I wish you a happy and successful new year. First and foremost, I would like to thank you for your support and trust in the past 12 months. 2020 was a year like no other, and a significant part of our success comes from you believing in us, so cheers to that!

HIGHLIGHTS OF 2020

Last year brought many great additions to the TWINO platform, one of the highlights being the launch of TWINO Ventures in the first part of the year that has quickly become a valued and high-demand product for our investors. The Ventures platform also gave us an opportunity to take part in fighting the COVID-19 pandemic by launching our first social campaign aimed at fundraising donations for Children’s Clinical University Hospital in Riga. Other mentions-worthy features are two-factor authentication for accessing your investor profile, the launch of the improved identification process with the identity verification service provider Onfido, and our referral program, from which our investors received € 62000 in bonuses from encouraging their friends to join TWINO.

While the year was physically lacking in the events section, we were quick to adapt and even hosted 2 online events – our 8th (but 1st online) FinTech Talks by TWINO, and a webinar about investments in the real estate industry. In addition to that, we launched the Global Idea Pitch competition for start-up and growth business ideas together with Expansion Capital, risk capital fund.

As we have communicated repeatedly, obtaining an investment brokerage license was and still remains the top priority for the whole TWINO Group, and while most of the progress is happening behind the scenes, the changes you might have noticed is the reorganization process to separate platform’s operations from TWINO parent company, and the just-launched secondary market, introducing the opportunity to sell loans at a premium or a discount.

I believe that you are eager to hear more about TWINO’s financial performance in the year 2020. As you may guess, it’s still early to give you exact numbers as the financial audit is just in its first steps; however, I can share with you that it was a profitable year both for the Group’s parent company – SIA TWINO and for the Group as a whole. You can rest assured that more information will be shared with you in the coming months.

I’m also happy to say that despite the government restrictions imposed in the countries of our lending operations in the first part of 2020 due to the COVID-19 pandemic, we were still able to significantly improve loan portfolio quality across all products and target better customer segments with lower-priced products. The challenges our loan originators faced also did not halt improvements in all markets with our Polish loan originator obtaining a payment institution license, being named the best app and best employer of the year in Russia, and revision of the products and processes in our Latvian market.

PLANS FOR 2021

I and the whole TWINO management team see the year 2021 as a year of opportunities that we are ready to capitalize on. Most importantly, we feel like you will be among the main beneficiaries from our plans as we are putting the development of the TWINO investment platform as a key priority for the TWINO Group.

As mentioned previously, the licensing process is well on its way and you will hear more and more about it during our next newsletters. In addition to that, we are looking for ways to broaden the investment offering on the platform, as you have been asking for that in our surveys. We also feel like investments are going more mainstream compared to some years ago and therefore believe that there is no better time than now to take the leap.

With all this being said, we are excited about what the future holds and we hope that so are you! Stay tuned for news from us and please do not hesitate to share your feedback with us.