TEGOS provided comprehensive legal support to LMT Finance, a company within the LMT Group, throughout the process of obtaining a consumer credit license. This included assessing regulatory requirements, preparing necessary documentation, drafting licensing materials, and coordinating communications with the Consumer Rights Protection Centre.
As the consumer credit services market in Latvia is highly regulated, securing this license represents a significant milestone in the company’s growth and its ability to offer new services. With a lending portfolio exceeding EUR 100 million, LMT is now the leading direct technology lender in Latvia. The issuance of the license will enable the LMT Group to further strengthen its position in the TechFin sector*, which has become a key focus of its operations in recent years.
“Obtaining a consumer credit licence is a complex and detailed process that requires thorough preparation and full compliance with regulatory requirements. We are therefore particularly pleased that we were able to help LMT Finance achieve this significant result,” says Inese Hazenfusa, a partner at TEGOS.
The TEGOS team working on the licensing project comprised partner Inese Hazenfusa, senior associates Laura Ērkšķe and Margarita Ivanova, and associate Karīna Narņicka-Čumakova.
TEGOS regularly advises financial services providers on licensing, compliance and financial technology matters across the Baltic states. The LMT Finance licensing project further strengthens TEGOS’s expertise in managing complex regulatory processes and advising companies in the FinTech sector.
* TechFin refers to technology companies that offer financial services by leveraging digital platforms, data and innovation, effectively integrating finance into their core technology-driven business models.
