Tuum, an Estonia-based next-generation core banking platform, has entered into a strategic partnership with maib, Moldova’s largest bank, to support its entry into the Romanian market. The partnership will see Tuum provide the core banking infrastructure for maib’s new digital banking initiative in Romania, which will operate as a retail-focused, asset-light entity. Following an extensive evaluation of core banking providers, maib selected Tuum for its modular design, modern system architecture, and its flexible deployment options. Tuum’s ability to offer agnostic deployment, including in-country hosting where required, was noted as a key factor in ensuring compliance with European data residency requirements…

Artificial intelligence (AI) is a rapidly advancing industry in the Baltic states of Estonia, Latvia, and Lithuania, with a growing number of companies now focused on building AI-native products, rather than simply enhancing existing offerings with AI, according to a new report by Riga-based management consultancy Venture Faculty, in collaboration with Dealroom. The report, released in June, explores the growth of the AI sector in the Baltic region, offering a comprehensive mapping and analysis of AI-powered companies based in the Baltic states. It notes that the Baltics is now home to 184 AI companies, with the majority of them (52.7%)…

Paynt, a Lithuania-based payment technology company, has announced the acquisition of Canadian firm E-xact Transactions, marking a significant step in its strategic expansion across North America. Paynt currently operates across the European Economic Area and the United Kingdom, with regional offices in the UK, Ireland, the Baltic States and the US. The acquisition of E-xact, which processes more than CAD 3.5 billion annually across over 50 million transactions, will establish a new operational base in Vancouver, Canada. To support this expansion, Paynt has appointed payments industry veteran JohnPaul Golino to its board of directors. Golino will oversee the integration of…

Latvia is steadily becoming an attractive hub for cryptocurrency and blockchain firms, fueled by increasing interest from international firms pursuing Markets in Crypto-Assets (MiCA) licenses. This development comes as the Baltic country is aggressively building itself as a welcoming and innovative European center for crypto and blockchain companies through favorable regulation, tax incentives, and government support. According to the Ministry of Economics, several globally recognized crypto-asset service providers are currently considering Latvia for operating licenses. While no specific names have been shared, these newcomers would join Latvia’s ~20 cryptocurrency and blockchain startups, according to data from Venture Faculty. Key players…

myTU, a a Lithuania-based digital bank, has introduced support for Apple Pay, providing a more secure and private way to make payments without handing over a physical card, touching payment terminals, or using cash. The update comes after the earlier rollout of Google Pay and forms part of a broader update to the myTU app, which now includes instant card issuance, token management, and improved support for digital wallets. With Apple Pay integration, customers can make contactless payments by holding their iPhone or Apple Watch near a payment terminal. Each transaction is authenticated using Face ID, Touch ID, or a…

Axiology, a Lithuania-based company developing distributed ledger technology (DLT) infrastructure for regulated tokenised securities under the EU DLT Pilot Regime, was named both the regional Baltic Class Winner and the Overall Winner of the Mastercard Lighthouse FINITIV Programme, Spring 2025. The announcement was made during the programme’s Startup Showcase and Grand Finale, held at the Latitude59 conference in Tallinn, Estonia. The selection committee recognised Axiology as the Overall Winner “due to their innovative idea and partnership readiness that they demonstrated towards all programme partners. Their solution is aiming to revolutionise the market, which made them stand out in the eyes…

As digital commerce continues to evolve, more businesses in Lithuania are exploring new ways to improve the efficiency and security of their payment processes. One area gaining traction is Open Banking — a framework that enables direct payments between banks, reducing the reliance on traditional card networks and helping companies optimise operations. Responding to this shift, Noda, a global Open Banking platform, is introducing a dedicated offer for Lithuanian businesses in partnership with Startup Lithuania. The initiative is aimed at startups and small businesses looking to explore alternative payment methods and reduce operational costs. Addressing Payment Challenges Through Open Banking…

Revolut has launched mortgage refinancing services in Lithuania, marking the company’s first step into the home loan market. The service is integrated into the Revolut app and allows customers to manage the refinancing process digitally. Users will receive personalised, pre-approved offers within minutes. Revolut covers the cost of property valuation and notary services, and local mortgage managers are available for support. After refinancing, customers can manage their mortgage through the app. Revolut does not charge administrative fees for this service. The launch coincides with regulatory changes in Lithuania aimed at simplifying mortgage refinancing. Joe Heneghan, Partner and Chief Executive Officer…

Tuum, a next-generation core banking platform based in Estonia, has been selected by Bondora, a European consumer finance provider, to support its plans to become a fully licensed digital bank and to modernise its lending operations across several EU markets. The partnership will see Tuum provide its cloud-native core banking system to support both Bondora’s planned greenfield digital banking initiative and the migration of its existing consumer credit operations. This will bring both areas of the business onto a single modular platform. With more than 16 years in the market, Bondora is a digitally focused fintech company operating in five…

myTU, a fully automated, AI-native, and cloud-first digital bank, has been granted acquiring licenses from both Visa and Mastercard. This significant development supports its ongoing mission to establish a scalable, secure, and innovative payments-as-a-service (PaaS) infrastructure for its business partners. With these licenses, myTU will be able to process card payments directly via its own acquiring infrastructure, enabling seamless transactions across e-commerce platforms, retail environments, and point-of-sale (POS) terminals. Obtaining acquiring licenses from both leading global payment networks represents a key milestone in myTU’s strategic expansion. It positions the digital bank to provide direct card acquiring services to business clients,…

Latvia’s Magnetiq Bank has provided a EUR 2 million loan to Estonian fintech company Placet Group, which operates in the alternative lending sector. The loan will support the company in further developing its lending services in Estonia by ensuring stable working capital. Placet Group is an alternative lender in Estonia, offering flexible loan solutions to individuals and businesses. The loan will help the company improve its resource allocation and support its continued growth in the lending segment. Part of the funding will also be used to refinance existing obligations, which is expected to improve the company’s long-term financial sustainability. “The…

Despite ongoing global economic and geopolitical challenges, Lithuania’s fintech industry continues to rise. In 2025, the number of fintech companies operating in the Baltic country reached 282, representing a 2% year-over-year (YoY) increase from 276 in 2024, according to new data released by Invest Lithuania, the nation’s investment promotion agency. This growth is being supported by an expanding talent pool, which now numbers 7,800 professionals in the fintech sector, marking a 5.4% YoY increase. Crypto momentum The growth of the Lithuanian fintech industry in 2024 was driven by a number of favorable trends. In particular, the country continued to attract…

US fintech giant Robinhood is set to expand into Lithuania after the country’s central bank granted a brokerage licence to its European division. “The Bank of Lithuania has issued an A-category brokerage license to Robinhood Europe, a wealth tech company,” the central bank announced. Robinhood Europe is part of Robinhood, the US-based fintech brokerage group founded in 2013. With this approval, it becomes the 14th company to receive a brokerage licence in Lithuania. According to the central bank, wealth tech firms licensed in the country now serve “more than 6 million clients across the European Union.” A few weeks prior…

xpate, an electronic money institution licensed in Latvia, has become the first non-bank payment service provider to join the Electronic Clearing System (EKS), the payment system operated by the Central bank of Latvia, Latvijas Banka. This marks the first instance within the euro area where a central bank has enabled direct participation of non-bank payment service providers in a system it maintains. As of 17 October 2024, Latvijas Banka has opened access to the EKS for licensed payment and electronic money institutions, as well as credit unions. The move aims to create equal conditions for all Latvian payment service providers…

Lithuania’s central bank has imposed a fine of €3.5 million on Revolut over failings in its anti-money laundering controls. The London-headquartered fintech firm operates within the European Union under a Lithuanian banking licence and is supervised by both the European and Lithuanian central banks. The penalty follows a routine inspection which uncovered “violations and shortcomings in the monitoring of business relationships and operations,” the central bank said. These lapses resulted in Revolut “not always properly identifying suspicious monetary operations or transactions,” it added. Revolut responded by stating that the investigation had not revealed any confirmed instances of money laundering and…

The Baltic Fintech Awards 2025 took place during the Baltic Fintech Days 2025 on April 2 and 3, where industry leaders and innovators were recognised for their contributions to the region’s rapidly evolving fintech sector. The event highlighted the achievements of companies and individuals who have made notable advancements in the field of financial technology. The Fintech Innovator of the Year award was presented to Mifundo, based in Lithuania, which was recognised for its innovative approach in the fintech space. Mifundo provides solutions in the field of digital payments and financial inclusion, helping underserved communities access better financial services. Wallester,…

iDenfy, a Lithuania-based fraud prevention and identity verification company, has announced a partnership with Reppublika Data Analytics & Technologies, a European software firm headquartered in Vienna, Austria. Reppublika focuses on SaaS solutions for the market research industry, particularly in areas such as panel management and media measurement. The collaboration aims to improve data quality and reduce fraudulent survey responses by integrating iDenfy’s identity verification technologies into Reppublika’s systems. iDenfy offers identity verification and fraud detection solutions that combine document verification with biometric technologies. This includes features such as 3D active liveness detection, designed to distinguish real users from bots or…

Invest Lithuania has published its Fintech Report for 2024-2025, offering an in-depth examination of the current state of the fintech industry in Lithuania. The report highlights key trends, opportunities, and challenges that the sector may encounter in the coming years. Lithuania has increasingly positioned itself as a notable hub for fintech enterprises, attracting both new startups and established financial institutions. The report indicates that a combination of innovative technologies, a supportive regulatory framework, and a skilled workforce are contributing to the sector’s development. The findings of the report suggest that the fintech sector within Lithuania is likely to witness considerable…

A major foreign fintech company is set to launch operations in Lithuania, according to Simonas Krėpšta, a board member of the Bank of Lithuania. “In a few weeks, we will have more news about the financial technology giants coming to Lithuania,” Krėpšta said on March 28 at the launch of the Organisation for Economic Co-operation and Development (OECD) Lithuanian Economic Outlook event in Vilnius. Vytautė Šmaižytė-Kuliešienė, a spokeswoman for the Bank of Lithuania, later clarified that the announcement pertains to just one fintech company. The Centre of Registers has listed the name of the company as Ebury Partners Lithuania, with…

For the first time, Estonia’s EstBAN, Latvia’s LatBAN, and Lithuania’s LitBAN will jointly invest up to €500,000 in the winner of the Latitude59 pitch competition. The investment will be made as part of a syndicate during the technology conference, taking place in May in Tallinn, Estonia. Latitude59 CEO Liisi Org noted that while EstBAN has previously invested in the competition, this marks the first time Latvian and Lithuanian business angel networks are joining. “The willingness of investors from neighbouring countries to invest in the Latitude59 competition winners is significant. It shows that our traditional pitching competition has grown into the…