Residential real estate
in southern Spain.

Fundaro is a Latvian real estate company. We buy residential property in Málaga and along the southern Spanish coast, renovate it, and manage each project ourselves from the purchase through to completion.

Acquire. Renovate. Manage.

Fundaro works on one property at a time. We look for residential buildings and apartments in established neighbourhoods that are worth more than their current condition suggests - good structure, a good address, and years of deferred work behind them. We handle the purchase, the permits, the contractors and the finish specification directly. The people who choose the property are the people who run the site.

Acquisition

We source off-market and on-market residential property in Málaga province, with a preference for buildings in walkable central districts rather than coastal developments.

Renovation

Every project is renovated to a documented specification, managed by our own team, with local architects and contractors we work with repeatedly.

Management

We stay with a building after the work is finished. Letting, maintenance and eventual sale are handled in-house rather than passed on.

Málaga, and the coast
either side of it.

The company is registered in Riga and run from Málaga. Both cities are part of how we operate rather than a matter of paperwork.

Residential building in a central Málaga district

Our market, Málaga, Spain

Our work is concentrated in Málaga city and the surrounding province. It is a market we know street by street rather than through a spreadsheet: which blocks hold their value, which buildings have licensing problems, which streets are quiet enough to live on.

  • Central, walkable districts
  • Existing buildings rather than new-build
  • Local architects and contractors

Our entity, Riga, Latvia

Fundaro is a Latvian company, registered and administered in Riga. Accounting, corporate governance and reporting sit there; the building work sits in Spain. Latvian corporate discipline, Spanish market knowledge.

  • SIA “Fundaro”, registered in Latvia
  • Annual accounts filed in Latvia
  • Operations office in Málaga

Renovated to a written
specification, not a mood board.

How we work
Restored kitchen with original tiled floor
Entrance hall with restored mouldings and hydraulic tiling
Renovated bedroom with restored ceiling detail

Fewer projects. More attention.

Four working habits that decide what we take on and how it gets built.

One property at a time

We would rather do one building properly than five at arm’s length. Each project keeps the same team from purchase to handover.

Local, not remote

Our people are in Málaga. Site visits are weekly, not quarterly, and decisions are made by people who have stood in the room.

Documented specifications

Every renovation runs against a written specification and a written budget. Changes are recorded, not improvised.

Built to hold

We renovate to a standard we would be content to own for a decade, whether or not that is what ends up happening.

A company with
experience.

SIA Fundaro was founded in Riga in May 2026 and operates from Málaga. The company is small by design: a founding team with backgrounds in property development, construction, finance and technology, working on one project at a time rather than building a portfolio for its own sake.

For a thousand years, the fundaro held the courtyard where merchants pooled their capital, shared their risk, and split their returns. We are that courtyard.
Fundaro brand statement · Est. 11th century

The name derives from funduq - the Arabic word for a Mediterranean trading house where merchants and capital met. A fundaro was the trusted keeper of that exchange. That is our role today.

Company details

Legal name

SIA “Fundaro”

Registration number

40203749200

VAT number

LV40203749200

LEI

875500YJH4Y0XCESGA65

Registered address

Ranka dambis 30-130
Riga, LV-1048, Latvia

Founded

May 2026

Meet the team

Questions we
are asked.

Straight answers about how the company works. If something here is not covered, write to us.

What does Fundaro do?

We buy residential property in Málaga and along the southern Spanish coast, renovate it, and manage each project ourselves from the purchase through to completion. Sourcing, permits, contractors and the finish specification are all handled directly rather than passed to an agent.

What kind of buildings do you buy?

Residential buildings and apartments in established neighbourhoods that are worth more than their current condition suggests: good structure, a good address, and years of deferred work behind them. We prefer existing buildings in central, walkable districts to new-build on the coast.

How many projects do you run at once?

One. We would rather do one building properly than five at arm’s length, and each project keeps the same team from purchase to handover.

Who does the renovation work?

Our own team manages it, with local architects and contractors we work with repeatedly. Every renovation runs against a written specification and a written budget, and changes are recorded rather than improvised.

What happens once a renovation is finished?

We stay with the building. Letting, maintenance and eventual sale are handled in-house rather than passed on, and we renovate to a standard we would be content to own for a decade.

Why is a Latvian company working in Spain?

Fundaro is registered and administered in Riga and run from Málaga. Accounting, corporate governance and reporting sit in Latvia; the building work sits in Spain. Latvian corporate discipline, Spanish market knowledge.

Are you on site, or managing from a distance?

On site. Our people are in Málaga, site visits are weekly rather than quarterly, and decisions are made by people who have stood in the room.

Who is behind the company?

SIA “Fundaro” was founded in Riga in May 2026. The founding team has backgrounds in property development, construction, finance and technology, and is listed in full further down this page.

How do I get in touch?

Leave your address in the form at the foot of this page. We send occasional notes about what we are building and what we have learned doing it, a few times a year at most, and we do not share your address with anyone.

The people who choose the property
are the people who run the site.

Daniel Erik Olsson

Daniel Erik Olsson

Co-Founder & CDO

30+ years as a real estate developer in the Málaga region. Leads sourcing, construction, and exit.

Davis Dargelis
in

Davis Dargelis

Co-Founder & CEO

Fintech expert, exited founder; co-founder of Nordics leading fintech event. Leads fundraising, lender relations and platform development.

Roberts Herberts
in

Roberts Herberts

Co-Founder & COO

Twenty years building products and places, with design and export awards behind them. Leads strategy, brand, architecture and interiors.

Karlis Drikis
in

Karlis Drikis

Co-Founder & CMO

Fintech marketing and branding professional. Leads sales channels, affiliate partnerships and lender communications.

Emils Arcimovics
in

Emils Arcimovics

CFO

Built a research agency analysing 100+ lending platforms. Leads financial operations and structuring.

Sandra Luse
in

Sandra Luse

CCO

Master of Law with experience in the government compliance sector. Owns AML and compliance.

Notes from the site.

Occasional writing about the buildings we are working on, the Málaga market, and how renovation actually goes as opposed to how it was planned.

Read the journal