With the rise of new COVID-19 cases all over the world, we are carefully monitoring trends in our markets. So far we have observed that the reaction to the increase of infections is much calmer compared to what we saw back in March and April. There have been no significant changes on either the lending or investment sides, and governments have not introduced any additional precautions for the time being. Still, we are well-prepared and have accumulated a significant cash buffer to withstand possible volatilities.
TWINO Group’s activities
- We are very close to launching the improved identification process with the identity verification service provider Onfido. Initially the changes will apply only to newly registered investors, but please know that with time re-identification will be required for existing investors as well.
- Phase 3 of the Hoffmann residence Venture is already fully funded. It only took less than 10 days for 827 investors to reach the target amount of € 250,000, making it the fastest funded phase of the project so far. This gives us reassurance that our investors are looking forward to investment opportunities in TWINO Ventures, and we are doing our best to make sure that the next project is as attractive as ever.
- I am proud to share that Armands Broks, founder of TWINO Group, has been elected to the board of the Latvian Startup association Startin.LV! Armands is determined to dedicate his time and resources to attract government support for the association, work towards consolidation of the sector, strengthening of the Startup sector’s brand on a global scale, and offering his mentorship and network.
- In the previous update I mentioned that the investor portfolio is only 5% away from pre-COVID-19 levels. To give you a broader insight into the portfolio size, the number of investors, the loans financed, etc., we have prepared a detailed overview for the period from February to August.
In case of any specific questions do not hesitate to contact us.