Nordigen employees will be able to become co-owners of the company :: Dienas Bizness

The Latvian financial technology start-up Nordigen has become one of the first companies in Latvia to issue stock options to all employees.

This means that employees, including new employees who are just starting work at Nordigen, have the opportunity to become co-owners of the company.

The experience of the most successful start-ups in the world and also in Estonia shows that if a successful start-up develops, employees can become millionaires.

“Stock options allow employees to be part of a company’s success story. This makes the team more motivated and focused on common goals. The availability of stock options is also a very important factor in attracting highly qualified employees. We at Nordigen are confident of creating the next unicorn or a billion – dollar company is not possible without the issuance of stock options, “says Robert Bernans, co – founder of Nordigen.

In December 2020, amendments to the Commercial Law and the Law “On Personal Income Tax” were adopted in Latvia. The laws included more favorable conditions regarding taxes and an orderly mechanism as a company with a legal form of SIA can grant the right to purchase shares to its employees. Thus, Latvia is one of the countries in Europe where the regulatory framework for granting employee stock options has become particularly attractive to employers and employees. The European technology media “Sifted” even named the regulation of Latvian stock options the best in the world. Start-ups were particularly looking forward to this regulation, as it is common practice in Silicon Valley. It is also a great opportunity for an employee to see the fruits of their labor.

“It would be necessary to explain here that stock options are not yet part of a company. The issuance of stock options is an agreement with employees that after a certain time they will be able to buy a certain number of shares at a certain price. This is a common practice that we have borrowed “From such well-known names outside the start-up environment as Revolut and Wise. With the introduction of stock options, these companies have made their employees millionaires. We also want to go this route,” explains Bernāns.

Latvian financial technology start-up Nordigen is a data analytics company that provides account information services to financial institutions and technology companies in 31 European countries.

Nordigen’s free and paid solutions are currently used by a number of European banks, lenders and innovative technology start-ups. Nordigen’s provision of a free account information service is regulated by the Financial and Capital Market Commission. To date, Nordigen has raised 3.5 million euros in investments.

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