pinyya invest has obtained an investment firm licence from the Bank of Latvia, marking a significant milestone in the company’s development and a meaningful addition to Latvia’s financial innovation landscape.
The pinyya group has developed an innovative ‘aligned ownership’ model that brings together the interests of homeowners and investors — enabling individuals to acquire homes in European cities while providing investors with access to real estate through regulated securities. This represents a next-generation approach to housing accessibility, built on capital market instruments.
pinyya GmbH founder and Chairman of the Management Board, Thomas Köck stated: “We would like to thank COBALTs professional cooperation and support throughout the licensing process. This is an important milestone in pinyya’s journey, and the beginning of a significant responsibility. Trust is the most valuable asset of any financial institution, which is why we put regulation first and pursue innovation with purpose. The Bank of Latvia’s clear framework, constructive dialogue and efficient licensing process show that responsible innovation can move quickly when supervision and business work in the same direction. We are especially proud that this achievement reflects European cooperation: Latvia and Austria, Riga and Vienna, are the two starting points of a European company building new pathways to home ownership for the next generation. We look forward to proving what purpose driven, regulation first innovation can deliver in practice.”
COBALT Partner Edgars Pastars, who led the legal team, noted: “We are pleased that the COBALT team had the opportunity to support pinyya invest in obtaining an investment brokerage firm licence issued by the Bank of Latvia. This is a strong example of how financial technology and regulated capital market solutions can create new products, even within the relatively conservative housing market. This marks an important step for the pinyya invest team.”
The COBALT team advising pinyya invest on the licensing process included Partner Edgars Pastars, Specialist Counsel Andrejs Lielkalns, Senior Associate Alise Artamonova, and Associates Krists Kariņš and Armands Onzuls.
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