As you are subscribed to The Coin Magnet email list (are you?), you should have noticed that I’ve recently published an exclusive Envestio interview with Alesia Nikalaichyk, their Senior Account Manager. In that article, one of my subscribers shared his concerns regarding some inconsistencies in the location of their offices.
Thus, I decided to contact Envestio again so they could clear this out and share the info with you. These are questions I’ve sent to them:
- Are you located on Raeküla tee 5, Rae, Harju maakond, Estonia? Google Maps shows a big warehouse and an HQ of Smarten Logistics with lots of trucks parked outside.
- There are 3 Envestio offices located in Estonia, but two of them with telephone contacts from Latvia. Why is that for? How many offices do you have and where are they located?
This is Alesia’s reply:
We have a representative office in Estonia (a director and accounting), so they rent cost-efficient premises. The legal address of Envestio is officially confirmed by Estonian company register as we rent premises from the owner. However, bearing in mind that we are a quite small tenant, other entities who are located in the same complex can also use it (this is not prohibited by Estonian legislation).
We have always stated on the website the correct address: Raeküla tee 5, Rae Küla, Rae Vald, Harjumaa, Eesti, 75310. If we decide to invite a strategic investor later this year (we have several offers already), in medium run it would allow to make Envestio looking more like other regional players (A-class offices, own call center etc.). At the moment we still are very compact and thus cost-efficient, but with our own approach to certain processes.
We apologize for overlooking the address mentioned on Facebook page, and not monitoring the social networks thoroughly. We instructed them to replace the address picture. Part of our team (the project manager, investment development adviser and customer support are currently located in Latvia), where some projects are being developed. But we are trying to be cost efficient and digital, and outsource processes as much as possible, so the team is geographically distributed.
Envestio SI OÜ is the main operating legal entity. There is another company which is dealing with assets provided as collateral by borrowers (ENVESTIO COLLATERAL AGENT OÜ makes pledges for itself). The third company you may find is not performing any function related to the Platform’s operations (we may assign additional functions to it in future).
In my personal opinion, although they should have been clearer from the beginning and paid more attention to their social networks, they have passed the transparency test as all concerns have been properly addressed.
Any further question? Already using Envestio? Do not hesitate in asking your doubts or sharing your personal experience in the comment section below.