ZAS Ventures Backs Forestry-Focused Fintech Upwood with €50,000 Pre-Seed Investment

Latvian fintech startup Upwood has secured €50,000 in pre-seed funding from ZAS Ventures, marking an early step in the company’s ambition to modernise how forestry assets are financed and accessed by investors. The investment was disclosed by the investor to AIN and reflects growing interest in technology-driven sustainable finance models linked to real assets. The funding comes at a time when demand for credible, nature-backed investment products is increasing, particularly among investors seeking transparency, regulatory clarity, and measurable environmental outcomes.

 

Based in Riga, Upwood is developing a digital platform designed to connect forest owners with both individual and institutional investors. The core idea is to reduce the high entry barriers traditionally associated with forestry investments, which have typically been accessible only to large funds or specialised asset managers. By structuring regulated financial instruments backed by forest assets, the platform aims to open up equity and debt-based exposure to sustainably managed forests, while ensuring compliance with evolving ESG and financial regulations.

 

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Upwood positions itself at the intersection of fintech and sustainable finance. The company integrates geospatial verification tools to monitor forest assets and plans to use blockchain-based infrastructure to enhance transparency, traceability, and trust in how underlying assets are managed. Over time, the startup also intends to introduce tokenised green investment instruments, subject to regulatory approvals, enabling more flexible and accessible participation in forestry-linked financial products. This approach is intended to support responsible forest management while aligning investor returns with long-term environmental outcomes.

 

Commenting on the investment, Andrew Zinchuk, Founder and Managing Partner at ZAS Ventures, highlighted the strategic rationale behind the deal, noting that Upwood addresses inefficiencies at the crossroads of ESG, real assets, and capital markets. According to Zinchuk, the company’s focus on regulated and tokenised forestry investments fits well with the fund’s thesis around capital-efficient platforms that unlock new asset classes for global investors. ZAS Ventures is a US-based venture capital firm focused on Ukrainian-founded AI and SaaS startups with global ambitions. Its portfolio includes companies such as Ranking Copilot, Every Health, and Gamow Tech.

 

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The €50,000 pre-seed investment will be used to advance Upwood’s product development, strengthen its regulatory roadmap, and support early go-to-market efforts. These steps are critical as the company prepares for a broader platform rollout and works toward securing the necessary regulatory approvals within the EU. As sustainable finance continues to evolve, early-stage platforms like Upwood signal how forestry and other nature-based assets may increasingly be integrated into mainstream investment strategies through technology, regulation, and ESG-aligned design.

 

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