Archive
Booming: Lithuania’s Fintech Report and Startup Map 2021
Despite headwinds caused by the COVID-19 pandemic, Lithuania’s fintech landscape continued to grow in 2020 with 40 new companies setting up operations, bringing the total number of fintechs in the country to 230, according to Lithuanian investment promotion agency Invest
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Revolut Bank Launches Operations in Estonia
Revolut, a British fintech company offering banking services, announced that it has operationalised its European specialised banking license in Estonia. The specialised bank license allows Revolut Bank to provide limited banking services via its app along with an array of
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Lithuanian SME Digital Financing Granted a Specialised Bank License
The European Central Bank (ECB) has granted Lithuanian capital company SME Digital Financing a specialised bank license following the assessment and proposal of the Bank of Lithuania. Having secured the license, SME Digital Financing will now be able to accept
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Swedish Central Bank Extends Digital Currency Pilot Project e-Krona Until 2022
Sveriges riksbank, the central bank of Sweden, announced that it will be extending its central bank digital currency (CBDC) pilot project named e-krona to the end of February 2022. Riksbank conducted the pilot project in partnership with Accenture, to develop
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Swedish Neobank Northmill Raises US$30 Million
Northmill Bank, a Swedish neobank, raised US$ 30 million (SEK 250 million) in a funding round led by M2 Asset Management, a Swedish investment company controlled by Rutger Arnhult, and the institutional investor and asset management firm Coeli. Northmill Bank
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Swedish Payment Platform Billhop Raises €4 Million in Series A Funding
Billhop, a Swedish company which enables businesses and individuals to pay their invoices by credit card, has closed a €4 million Series A investment round from fintech venture firm Element Ventures. Billhop said that the latest investment from Element Ventures
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IKEA Makes Banking Moves With 49% Stake Acquisition in Ikano Bank
Ingka Group, the parent company of furniture retailer IKEA, announced that it has acquired a 49% stake in Ikano Bank with the option to acquire the remaining shares at a later date. The transaction is subject to approvals by the
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Lithuanian Paysera Raked in EUR 13 Million in Revenue for 2020
Paysera, a Lithuanian payment processor, announced that it has raked in EUR 13 million in revenue in 2020 which exceeded the revenue of 2019 by 17 percent. The company reported that its unaudited net profit in 2020 was EUR 3.4
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Lithuanian Neobank SME Finance Reported 57% Revenue Increase In 2020
Lithuanian-based neobank SME Finance has reported that it chalked up fiscal revenues of EUR 7.7 million in 2020, which showed a 57% increase from the previous fiscal year. The neobank said that its growth was driven primarily by a significant
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Payments Provider SumUp Acquires Lithuanian Fintech Paysolut
London-based payment service provider SumUp has acquired Paysolut, a Lithuanian core banking system provider for an undisclosed sum. The acquisition will help Paysolut expand its team and offer a new level of quality products. In terms of Paysolut’s future, SumUp
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