Elina Varendi

Elina Varendi

Associate
Tallinn, Estonia

Elina Varendi is a member of the firm’s banking and finance and IT law practice groups focusing mainly on alternative financing methods, start-up financing, and advising fintech companies. In addition to banking and financial law, Elina Varendi has broad knowledge in IT-law and data protection.

  • About

    Elina Varendi is a member of the firm’s banking and finance and IT law practice groups focusing mainly on alternative financing methods, start-up financing, and advising fintech companies.

    As a member of the banking and finance team, she has advised multiple clients in financing matters, mostly involving bond issue or loan financing transactions in Estonia and other Baltic states. She has also advised a client in being admitted to a multilateral trading facility. In addition, she has considerable experience in assisting both local and international clients with licensing proceedings before the Estonian Financial Supervision Authority in obtaining and accessing activity licences, credit institutions, payment service providers, lenders and loan intermediators.

    Elina Varendi also has experience with alternative fund management structures, having advised an Estonian real estate development on setting up an alternative fund management structure, advising crowdfunding companies on regulatory matters and setting up a cash-box alternative fund management structure for pre-financing crowdfunding projects. Among her main areas of expertise are international anti-money laundering rules and the implementation of the fourth anti-money laundering directive to the Estonian legislation, which was also the topic of her master thesis.

    In addition to banking and financial law, Elina Varendi has broad knowledge in IT-law and data protection, having assisted clients in concluding privacy policies, cookie policies, terms and conditions for websites and in other regulatory matters. She has also advised clients in software licensing. She has participated in the IT-law programme at the University of Tartu while obtaining her masters degree.

  • Major Projects
    • 04.05.2018

      Advising EstateGuru in securing its first institutional credit line with Varengold Bank

      The firm's banking and finance team led by partner Marko Kairjak advised EstateGuru in signing its first institutional credit line with German-based Varengold Bank AG. EstateGuru, European leading cross-border marketplace for short-term property loans has secured its first institutional credit line to be invested into loans originated in the Baltic market.

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    • 02.04.2018

      Advising Eesti Ühistukapital in acquiring 5% ownership in Coop Pank from Inbank

      Inbank and Eesti Ühistukapital signed an agreement, as a result of which Eesti Ühistukapital will acquire 5% of Coop Pank's shares from Inbank.

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    • 08.09.2017

      IUVO GROUP obtained credit intermediary authorisation from the Financial Supervision Authority

      The firm's banking and finance team led by partner Marko Kairjak advised Bulgarian capital-based rapidly growing crowdfunding platform IUVO, focusing on both consumers and corporate clients, in obtaining credit intermediary authorisation in the Estonian Financial Supervision Authority.

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    • 20.06.2017

      Advising UPP & CO KAUNO 53 on entering the Nasdaq Baltic First North bond market

      The firm’s banking and finance team advised UPP & CO KAUNO 53 OÜ, a company owned by Estonian asset management company United Partners Property, during the process of admittance to trading on Nasdaq Baltic First North market.

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    • 07.04.2017

      Representing Kemotex Finance on obtaining a licence from the Financial Supervision Authority

      The firm’s banking and finance team represented Kemotex Finance in obtaining creditor and mortgage creditor authorisation in the Financial Supervision Authority.

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    • Advising Admiral Markets on setting up a cross-border compliance network

      Advising Admiral Markets, one of the most rapidly growing Forex traders in the EU and Australia, on setting up a cross-border compliance network as well as regulatory issues across the Baltics.

    • Advising EstateGuru on drafting licencing agreements

      Advising the peer-to-peer lending platform EstateGuru on drafting EstateGuru Ltd licencing agreements as part of its expansion to the UK, considering the requirements set by the UK FCA on outsourcing agreements.

    • Assisting Estonian Cooperative Bank in the EFSA proceedings

      Assisting Estonian Cooperative Bank in the EFSA proceedings for obtaining the licence of a credit institution, which will be the first operating cooperative bank in Estonia and first done under the SSM regime.

    • Assisting Kreditex Group in obtaining the licence of a payment institution

      Assisting Kreditex Group in the submission of the application and, subsequently, in the EFSA proceedings for obtaining the licence of a payment institution.

    • Advising MiniCredit in establishing a debit card service system

      Advising MiniCredit, a short-term loan provider active in Estonia, Latvia, Poland and Georgia, in establishing a debit card service system under the new legal framework set by directive 2007/64/EC.

    • Advising TavexWise in acquiring a payment institution license

      Advising cross-border money transfer provider TavexWise, operating in eight countries in Europe, in acquiring a payment institution license under the PSD.

    • Advising Tomson Holding on issuing debt notes in a private offering

      Advising Tomson Holding on issuing debt notes in a private offering, assisting the company in preparing issue terms and collateral agreements for the debt note issuance.

    • Acting as a collateral agent in the Finora Capital bond issue

      Acting as a collateral agent in the Finora Capital bond issue, holding pledges on claims, bank accounts, and real estate.

    • Acting as a collateral agent in BBFIN1, JPFinance and UVIC bond issues.

  • CV

    Memberships

    2016
    Estonian Bar Association

    Professional career

    Since 2017
    Associate, law firm TGS Baltic (formerly Varul)
    2016–2017
    Associate, law firm Varul
    2016
    Junior Associate, law firm Varul
    2015
    Intern, law firm Varul

    Education

    2016
    Academy of European Law, Summer Course on EU Regulation and Supervision of Financial Markets
    2016
    University of Tartu, Faculty of Law, MA
    2014
    University of Tartu, Faculty of Law, BA