Latvian asset-backed investment platform Indemo raises €556K

Riga-based asset-backed investment platform Indemo, which means Investment Democracy, has raised €556K at a pre-money valuation of €7.5M from a mix of new and existing private investors from Ireland, Canada, Lithuania, and Latvia.

Founded in 2021 by Pavel Pochtarenko, Aleksandrs Voloshin, Sergejs Viskovskis, and Daniel Jiryakovs, Indemo allows investors to participate in real estate-backed debt opportunities, primarily in the Spanish market, with investments starting at €10. Previously, these products were reserved for individuals and institutions with investments starting at around €100K. 

The company works with partners who select and list real estate debt offerings on the platform. Investors can choose from these offerings and invest in securities known as notes, which are linked to discounted real estate debt bundles purchased from Spanish banks. These notes are secured by existing real estate assets, such as apartments, townhouses, and villas, providing profit potential when the assets are sold at market value. Indemo’s products include mortgage loan investments, which offer investors returns from interest payments made by borrowers and discounted debt investments, where investors purchase loans from Spanish banks at a reduced price due to borrower defaults, profiting when the associated real estate is sold at market value. Indemo currently manages over €5.5 million in assets.

Indemo plans to use the investment to increase its operations and further develop the platform. Upcoming features include the launch of a secondary market, allowing mortgage debt to be traded between retail investors and the expansion of asset-backed investment products by introducing investments in bank-type mortgages.