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Sorainen Advises Crowdfunding Platform Lenndy on Launch in Lithuania

Sorainen Advises Crowdfunding Platform Lenndy on Launch in Lithuania

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Sorainen had advised Lenndy, one of the first crowdfunding platforms in Lithuania, on its launch. 

According to Sorainen, the Lenndy platform is based on a sharing economy and allows investors to acquire rights of claim emerging from business loan agreements already concluded. Lenndy operates under the hybrid crowdfunding method, adapted to the Lithuanian regulatory environment and marketing trends.

Speaking about Lenndy, which he conceived of and heads, Donatas Satkauskas explained that: "We believe that the Lithuanian market is ready for crowdfunding. We have created a platform allowing you to employ your money safely and profitably. We invite small and medium businesses to borrow under flexible terms and we invite investors to lend money to businesses and profit from the interest."

Sorainen reports that it advised Lenndy "on all issues related to launching a business, including business model structuring and adapting it to international crowdfunding practice as well as structuring procedures for fund management. Sorainen also prepared platform documentation and represented the company in negotiations with its main partners."

The Sorainen team consisted of Associate Arturas Asakavicius, the co-head of the Sorainen Startup practice group, along with Specialist Counsel Augustas Klezys and Associate Lina Ragainyte.