Latvian company Dizozols Investments has implemented one of the biggest investment attraction projects in the Baltic States. By using crowdfunding platform Crowdestor, the company has managed to attract investments worth EUR 2.77 million from more than 3,500 investors, as reported by the company.
The finalized investment project is one of the biggest crowdfunding projects on the Baltic level. Investments attracted using this project will be used for Latvia’s forestry.
Financing was attracted using Crowdestor platform. 3,500 investors from 69 countries, including Germany, Switzerland, Japan and others decided to participate.
The final crowdfunded amount was EUR 3.46 million, of which the base amount of investments was EUR 2.77 million. Lenders’ profits are estimated at EUR 690,000.
The goal of the crowdfunding campaign was raising funds to acquire forest property in order to create a forest fund.
“Using this money we have successfully created a forest fund. Together with SIA Dizozols, using its lumber realization and logistics technologies, we have implemented our forest management plan, which includes forest cultivation, soil preparation, tree planting and management in order to significantly increase the value of the forest property,” says SIA Dizozols Investments manager Guntars Galvanovskis.
Businessmen note that the forestry sector represents one of Latvia’s most important sectors of the national economy. It provides a large contribution both for the development of Latvia’s domestic economy and the country foreign trade growth.
According to the founder and board chairman of Crowdestor Janis Timma, this specific case has gained approval and interest from investors, increasing the attractiveness of such investment projects intended to help develop Latvia’s forestry. (BNN/Business World Magazine)
