Company:HeavyFinance
 | |
| Type | Private |
|---|---|
| Industry | Financial technologies, climate technologies |
| Founded | 2020 |
| Headquarters | , Lithuania |
Key people | Laimonas Noreika, Darius Verseckas, Andrius Liukaitis |
| AUM | €46 million (2023) |
Number of employees | 52 (2023) |
| Website | heavyfinance |
HeavyFinance is a Lithuanian environmental technology investment company that operates a marketplace for the agricultural industry.[1] The company facilitates investments in debt capital for small and medium-sized agricultural enterprises to switch and expand regenerative agriculture practices such as no-till farming, mixed crop rotation, cover cropping, and the application of compost and manure.
The company is registered as a crowdfunding service provider with the European Securities and Markets Authority (ESMA).[2][3]
History
In 2020, Laimonas Noreika, Darius Verseckas and Andrius Liukaitis co-founded HeavyFinance in Vilnius, Lithuania registering the company's offering with the Central Bank of Lithuania.[4]
In 2021, HeavyFinance raised US$1 million in a round led by a Polish venture capital firm bValue[5] to fill the funding gap for small and medium-sized European farms[6] of €19.8 to €46.6 billion, as identified by the European Commission together with the European Investment Bank.[7]
Over the initial three-year period, the company facilitated the issuance of over €27 million through approximately 1,000 loans.[8] In 2022, lending activities experienced growth, with the total number of loans disbursed increasing from 427 in the previous year (valued at €13.5 million) to 651 loans, totaling €16.2 million.[9]
In 2023, HeavyFinance raised €3 million in a seed funding round led by Practica Capital and launched green loans to accelerate the adoption of regenerative agriculture.[10][11][12][13] A joint venture with Scottish firm Agricarbon was started.[14]
(As of 2023), HeavyFinance had provided assistance to more than 1,600 farm owners, with an average loan size of €31,000.[15]
Services
HeavyFinance enables small and medium-sized farms to create agriculture business loans between €10,000 and €200,000. Investors are able to browse the loan listings on the HeavyFinance website and select loans that they want to invest in based on balance sheet, income statement and other information supplied about the farm, amount of loan, collateralized debt obligation, loan rating, and loan purpose.
HeavyFinance offers fixed interest green loans for carbon farming.[16] Investors in green loans make money from nature-based carbon credits generated on the farm by applying regenerative agriculture.[17][18][19]
The company also provides both collateralized and uncollateralized agricultural business loans. Investors in agriculture business loans earn interest on these loans.
Locations
(As of 2023), the company has offices in Bulgaria, Latvia, Lithuania, Poland, and Portugal.[20][21]
See also
- Sustainable finance
- Carbon farming
- Verified Carbon Standard
- Regenerative agriculture
- Net zero emissions
- No-till farming
References
- ↑ "Empowering small-scale food producers with fintech" (in en). https://www.ebrd.com/news/2022/empowering-smallscale-food-producers-with-fintech.html.
- ↑ "Register of crowdfunding services providers". https://www.esma.europa.eu/document/register-crowdfunding-services-providers.
- ↑ Sharma-Karia, Sonia (2023-07-28). "New pan-EU licence allows HeavyFinance to expand its platform" (in en-GB). https://alternativecreditinvestor.com/2023/07/28/new-pan-eu-licence-allows-heavyfinance-to-expand-its-platform/.
- ↑ "UAB HEAVY FINANCE" (in en). https://www.lb.lt/en/sfi-financial-market-participants/uab-heavy-finance.
- ↑ "Planting the seeds for future sustainability, Lithuania's HeavyFinance raises $1 million" (in en-GB). 2021-12-21. https://tech.eu/2021/12/21/planting-the-seeds-for-future-sustainability-lithuanias-heavyfinance-raises-1-million/.
- ↑ Cumming, Alice (2023-08-03). "HeavyFinance's climate tech investment success: financing €40m in agricultural loans - Business Leader News". https://www.businessleader.co.uk/heavyfinances-e40m-in-agricultural-loans/.
- ↑ "fi-compass Study on financial needs in the agriculture and agri-food sectors in 24 EU Member States" (in en). 2023-11-22. https://www.fi-compass.eu/eafrd/fi-compass-study-financial-needs-agriculture-and-agri-food-sectors-24-eu-member-states.
- ↑ ""Heavy Finance" komandą papildė du nauji vadovai". https://www.vz.lt/verslo-valdymas/is-tarnybos-i/2022/11/08/heavyfinance-komanda-papilde-du-nauji-vadovai.
- ↑ "Per "HeavyFinance" pernai finansuota paskolų už 16,2 MLN. Eur". https://www.vz.lt/rinkos/2023/01/31/per-heavyfinance-pernai-finansuota-paskolu-uz-162-mln-eur.
- ↑ "Lithuania's Climate Tech HeavyFinance closes €3m seed round" (in en-US). https://ibsintelligence.com/ibsi-news/lithuanias-climate-tech-heavyfinance-closes-e3m-seed-round/.
- ↑ Release, Press (2023-03-23). "Climate Tech specialist HeavyFinance closes 3 million Euro seed funding round" (in en-US). https://www.disruptionbanking.com/2023/03/23/climate-tech-specialist-heavyfinance-closes-3-million-euro-seed-funding-round/.
- ↑ jhaxell (2023-04-19). "HeavyFinance launches Green Loans to enter carbon credit market." (in en-GB). https://fintech.global/2023/04/19/heavyfinance-launches-green-loans-to-enter-carbon-credit-market/.
- ↑ "HeavyFinance Launches Green Loans to Generate Carbon Credits in European Agricultural Land - Fintech Finance". https://ffnews.com/newsarticle/funding/heavyfinance-launches-green-loans-to-generate-carbon-credits-in-european-agricultural-land/.
- ↑ "Dundee firm Agricarbon to partner with HeavyFinance in major european climate project" (in en). 2023-06-07. https://www.scottishfinancialnews.com/articles/dundee-firm-agricarbon-to-partner-with-heavyfinance-in-major-european-climate-project.
- ↑ "Statistics" (in en-US). https://heavyfinance.com/statistics/.
- ↑ "HeavyFinance launches Green Loans to generate carbon credits in European agricultural land" (in en). 2023-04-19. https://www.finextra.com/pressarticle/96510/heavyfinance-launches-green-loans-to-generate-carbon-credits-in-european-agricultural-land.
- ↑ Frances (2023-08-22). "Major investor coalition calls on G20 to revise agricultural subsidies" (in en-GB). https://foodvoices.co.uk/2023/08/major-investor-coalition-calls-on-g20-to-revise-agricultural-subsidies/.
- ↑ "HeavyFinance generates 250,000 carbon credits to combat European CO2 in 2024" (in en-GB). 2023-08-18. https://fintech.global/2023/08/18/heavyfinance-generates-250000-carbon-credits-to-combat-european-co2-in-2024/.
- ↑ "Vinted co-founder invests €1M in HeavyFinance to boost green agriculture | Silicon Canals" (in en-US). 2023-10-09. https://siliconcanals.com/crowdfunding/vinted-co-founder-backs-heavyfinance/.
- ↑ "HeavyFinance Review – Connecting Farmers with Investors | CrowdSearch". https://crowdsearch.eu/platforms/heavyfinance/.
- ↑ "HeavyFinance to offer agri-finance in Bulgaria to tackle climate change" (in en). https://seenews.com/news/heavyfinance-to-offer-agri-finance-in-bulgaria-to-tackle-climate-change-820555.
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