Latvian startup InDemo has raised €500K from a group of business-angels

Latvian investment platform InDemo has raised €500K from the founder of Latvian plumbing company Aquatica Joseph Burnstein, the banking and fintech investor Gocha Tutberidze, and the family of tech investors Igosins. InDemo's total valuation is estimated at €2,5M.

The startup was founded in Riga by Sergey Vishkovsky, Pavel Poctarenco and Alexander Voloshin in 2022. One of the company's products is mortgage loan investments secured by real estate collateral from InDemo's partners in Spain (usually an apartment or a detached house, located in Spain's major cities or on the coast). The private investor can invest in securities starting from 10 euros on the platform with the further opportunity to get a share of the mortgage loan, from which he will receive regular income from the loan interest or a share of the profit from the sale of the mortgaged real estate. InDemo obtained an investment brokerage license from Latvia's Financial and Capital Market Commission (FCMC) in November 2022.

The startup will use the financing to launch the platform, grow the team, increase partnerships and integrations, and prototype upcoming products and features.