The Baltic states have quietly become one of Europe's most interesting laboratories for alternative lending. Twino was founded in Riga in 2015 as a peer-to-peer investment platform, connecting European retail investors with consumer loans originated across multiple markets including Latvia, Poland, Georgia, and Vietnam. Its buyback guarantee — a promise to repurchase loans that go more than 60 days past due — became a key differentiator in a market where credit risk was the primary concern for investors unfamiliar with the underlying borrower markets. Twino grew rapidly during the P2P lending boom of the mid-2010s, processing hundreds of millions in loan volume and building a pan-European investor base attracted by returns that traditional savings products couldn't match. The company navigated the turbulence that hit the P2P sector across Europe — regulatory tightening, investor withdrawals during COVID, and the broader consolidation of the alternative lending market — and continued operating as one of the more resilient Baltic P2P platforms. In the context of European retail investment, Twino represents a model that gave ordinary savers access to credit markets in emerging economies — a democratisation of yield that came with real risks that not all investors fully understood.