Lithuanian HeavyFinance to invest €14m with Multitude Bank in small agribusinesses

Lithuanian greentech investment firm HeavyFinance has announced a partnership with Multitude Bank, the main subsidiary of Malta-based Multitude Group. 

As part of the debt securitisation deal, Multitude Bank will invest €14M in loans to small and medium-sized agricultural enterprises. The main objective is to support the transition of businesses to sustainable farming practices.

In December 2024, Multitude Bank will start investing in loans issued by HeavyFinance. The bank will issue loans for the entire amount of €14М by the end of 2025.

The investment is backed by a portfolio guarantee of up to €10,5M from the European Investment Fund. The money will be distributed among more than 500 European agricultural enterprises. 

HeavyFinance is a Lithuanian environmental technology investment company that operates a marketplace for the agricultural industry. The startup was founded in 2020 by Laimonas Noreika, Darius Verseckas and Andrius Liukaitis. HeavyFinance has a semi-automated credit scoring system that allows to access clients borrowing capabilities based on their financial data. The amount of provided loans varies from €6K to €300K.