ZAS Ventures invests €50,000 in Latvian fintech startup Upwood
Upwood, a Latvian ESG-focused fintech startup building a platform for regulated financial instruments backed up by forest assets, has raised €50,000 pre-seed funding from Ukrainian-founded ZAS Ventures. The investor shared the news with AIN.
About Upwood
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Riga-based Upwood is a sustainable investment platform that connects forest owners with individual and institutional investors, lowering entry barriers to forestry assets.
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The company uses technology such as geospatial verification and blockchain infrastructure to offer transparent, regulated, and ESG-aligned investment products, including equity, debt, and planned tokenized green instruments.
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Operating at the intersection of fintech and sustainable finance, Upwood aims to scale access to impact-driven forestry investments while supporting responsible forest management.
“Upwood is tackling a real inefficiency at the intersection of ESG, real assets, and modern capital markets. Their approach to tokenized, regulated forest investments aligns strongly with our thesis around capital-efficient platforms that unlock new asset classes for global investors,” said Andrew Zinchuk, Founder & Managing Partner at ZAS Ventures.
Investment details
The round was backed by ZAS Ventures, a US-based VC fund investing in Ukrainian-founded AI & SaaS startups globally. ZAS Ventures has previously invested in Ranking Copilot, Every Health and Gamow Tech.
The investment will support Upwood’s product development, regulatory roadmap, and go-to-market activities as the company prepares for broader platform rollout and regulatory approvals in the EU.
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https://en.ain.ua/2025/12/22/zas-ventures-invests-eur50000-in-upwood/