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…I believe our main distinguishing feature is that we built the platform not based on business needs, but on the needs of the investor…
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In ancient Greek and Roman cultures, the nectar was a sweet liquor so great that was only meant for the gods themselves… A valuable and rich resource capable of fulfilling the needs and desires of both mortal and immortal beings…
Metaphors and distances aside, the proposal that Nectaro brings to the table, with interesting investment opportunities all wrapped in a regulated and expertly-driven company, is also meant to quench the thirst of investors looking for new platforms to help them expand and diversify their loan portfolios…
…However for quite a few people -especially in the Spanish community- not everything seems to be exactly as sweet as nectar in regards to Nectaro, mainly because there is a tendency to link this brand with the now extinct P2P platform Dofinance, in some cases assuming that the people and operation behind these two platforms are the same…
But… is this aversion and rejection really justified? Today we want to invite Sigita Kotlere, CEO of Nectaro platform to the blog to know more about the company and to clarify once and for all the real connection (or lack of) that it has with Dofinance.
Welcome to TodoCrowdlending, Sigita!
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1 – First of all, Sigita, let’s address straight away the concerns that quite a few Spanish investors and previous Dofinance users have expressed: Is Nectaro the new Dofinance?, and more specifically is there any person that was involved in Dofinance platform involved right now in Nectaro in any way?
SKNot very often but sometimes we are still asked about the history with the platform Dofinance. However, the truth is that Nectaro has no connection with Dofinance. Dofinance had its own separate management, team, and legal entity, making its own business decisions independently. Meanwhile, Dyninno Group was in the process of developing a new business division in fintech—an investment platform—with a primary focus on operating within a legal and regulated framework. At the time, it seemed like a good idea to expedite the licensing process by acquiring the platform that has started the licensing process.
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2 – Is there any operational, administrative or any other kind of relationship between former Dofinance and current Nectaro?, what is then the exact link between these two brands / companies?
SKThere is no actual connection to Dofinance—no operational, administrative, or any other kind of relationship exists between the two. At the time the deal was considered, Nectaro did not yet have a finalized team in place; we only had a team of IT developers working on the platform. Our focus was on building the technical foundation, and the acquisition of the legal framework was a strategic move to expedite the regulatory process. This decision helped lay the groundwork for what would eventually become Nectaro, but it’s important to emphasize that there was no overlap in management or operational teams between Nectaro and Dofinance.
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3 – Why did you specifically choose Dofinance as the starting framework for Nectaro platform?
SKIt wasn’t a decision to specifically collaborate with DoFinance. Circumstances unfolded in such a way that, after beginning the licensing process, this company (DoFinance) decided to suspend and not continue the process due to COVID. Our management saw an opportunity to save time by acquiring the already established legal framework to expedite the licensing process, as the technical part was already underway.
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4 – What would you say to those Spanish investors that were trapped in those poor performance Dofinance portfolios and feel suspicious about Nectaro platform?
SKDuring that period, many investors suffered losses because many platforms were unable to cope with the crisis due to challenging external circumstances. We deeply regret that investors, particularly Spanish investors, had to endure these financial setbacks. This is precisely why we chose the more rigorous path of obtaining a license—to provide our investors with a safer and more secure investment environment. A license not only ensures compliance with legal standards but also involves regular audits by the regulator. Spanish investors can rest assured that there is no connection between Nectaro and the decisions made by DoFinance management.
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OK, enough about Dofinance, let’s focus now 100% on Nectaro and its proposal to potential users / investors
5 – Sigita, in this somehow crowded P2P loan investing market, what would you say are the differential strengths / advantages of Nectaro vs other alternatives available?
SKI believe our main distinguishing feature is that we built the platform not based on business needs, but on the needs of the investor. We focused on creating a convenient and user-friendly platform for retail investors to invest in a safe and regulated environment. This is why Nectaro has a clear positioning—we strive to instill a culture of smart investing in the younger generation, teaching the importance of diversification and a rational approach, rather than chasing trends or hype. To support this vision, we’re integrating intuitive navigation, gamification elements, and accessible investor support into our platform.
And, of course, our team is a significant strength. Each of our team members has experience with one or more investment platforms, providing us with extensive industry insight and expertise. Additionally, being backed by the robust resources and support of the Dyninno Group gives us a considerable advantage, ensuring that we can deliver a top-tier experience for our investors.
6 – Indeed, being part of an international and diverse group such as Dyninno is a unique trait of Nectaro platform, could you tell us more about the potential synergies within the group and the added value this may represent to investors?
SKYes, Nectaro is part of the reliable Dyninno Group, which was established in 2004 and now has over 5,000 employees. Nectaro is a logical step in the development of the Group’s Fintech division, which already includes a lending business and an online banking solution, and now, an investment platform. The Group has supported us with technical and legal expertise, providing experts and helping us choose the best solutions. For investors, this translates into added security. After all, in the open ocean, it’s much more stable to be on a large ship than in a small, solitary boat.
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7 – With a clear focus on a streamlined, attractive, easy and functional design and quality of service as one of your core values… what is your target user?, who would you say Nectaro is suitable for?
SKYes, that’s absolutely true. We take great pride in our streamlined, attractive, easy-to-use, and functional design. This platform is the result of our team’s hard work and our commitment to simplicity and appeal. From the name to the cat on the homepage, every detail reflects our dedication. It’s amusing to recall how we looked at the early design drafts and said, ‘This isn’t vibrant or sexy enough!’ Our goal was to create a platform that primarily caters to the needs of millennials and younger generations. At the same time, our platform is genuinely suitable for any investor seeking a sensible approach to investing. This is evidenced by our existing client base, which ranges from 20 to 60 years old!
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8 – Being a regulated platform is indeed something highly appreciated nowadays by the investor community. In the case of Nectaro, can you please elaborate how are you regulated and what this means for potential investors / users?
SKNectaro is a regulated investment platform licensed by the Bank of Latvia, ensuring compliance with stringent European regulations like MiFID II, MiFIR, and others. This regulatory oversight means that potential investors can trust in the platform’s transparency, protection mechanisms, and adherence to investor protection laws. Nectaro participates in a national investor compensation scheme, offering up to €20,000 in compensation for eligible losses. This framework provides a secure and reliable environment for users, helping mitigate risks associated with investing.
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9 – OK, shifting gears, Sigita, let’s focus a bit more on you in this last part of the interview. Having extensive experience in the P2P investments niche (including several years in current market leader Mintos) and banking, how do you end up as CEO of a brand new platform such as Nectaro?
SKI believe I’m a strong fit for this role 😊 In my previous experience, I successfully built a new department within a bank from the ground up. This involved creating new products, addressing regulatory issues, and assembling a team. My experience working on one of Europe’s largest platforms during its rapid growth, combined with my MBA, aligns well with the requirements of this role.
In a more concise and humble way: shareholders were seeking candidates for this role, and I was fortunate to be among the ones recommended.
10 – What do you like / enjoy the most in your current role? and what is something that is always a challenge or an area for improvement?
SKWorking with the Nectaro Team gives me a sense of purpose, knowing that we’re creating something valuable for people around the world.
I’m not fond of tasks that lack value, particularly when it comes to unnecessary bureaucracy or ineffective processes.
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11 – This one we always ask to our interviewees 😉 -> How is your own investment portfolio? (i.e. do you invest in stocks, bonds, crypto, gold, other assets?…). Let’s learn from the best!
SKI’m a strong supporter of P2P investment platforms because of their accessibility, low fees, and transparent processes. They play a crucial role in channeling funds from developed to developing countries I also have a keen interest in real estate, despite the recent market challenges. I believe in the cyclical nature of markets and remain optimistic about future opportunities.
Regarding my own portfolio: I diversify across P2P platforms, bonds, and real estate, balancing between growth and stability.
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12 – Last one, the stage is yours: Anything else you would like to add or share with our TodoCrowdlending community?
SKAdditionally, in September, we will be introducing business loans! So, if you were waiting for a sign, this is it! And the big news – we just launched Nectaro’s Refer a Friend program, which is beneficial for both parties: the one who invites and the one who registers after the invitation.
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Thanks very much for your time, Sigita!
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