Lithuania

Revolut Granted Lithuanian Banking License by the European Central Bank

Revolut has received a banking license issued by the European Central Bank, following a proposal by the Lithuanian central bank. The company will now provide payment services in addition to its current activities of accepting deposits and granting loans in

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E-Payment Transactions in Lithuania Grew to EUR157.6 Billion in Q3

The value of payment transactions by electronic money and payment institutions in Lithuania grew 6.3x year on year, and their income from licensed activities grew 4.8x, in Q3 this year. According to the Bank of Lithuania, the value of payment

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E-Money Institutions Leads Lithuania’s Booming Fintech Sector

Fintech companies in Lithuania are among the best and fastest adapters to the Covid-19 pandemic. Fintech Hub LT statistics show that Electronic Money Institutions (EMIs) have made the most progress. The latter have demonstrated excellent turnover and profitability figures, which

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Bank of Lithuania Continues Digital Euro Experiments

The Bank of Lithuania invites payment market participants and technology companies to participate in an experiment and together develop a payment solution that enables instant settlements in digital euro at points of sale. “The Bank of Lithuania is constantly assessing

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Multi-Cloud Security Firm vArmour Sets up Development Center in Lithuania

vArmour, a provider of application relationship management software, has just announced the establishment of their latest development center in Vilnius, Lithuania. The development center in Lithuania will be at the forefront of vArmour’s core development efforts and become one of

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SME Bank Backed by the EU to Offer €100 Million in Financing for Lithuanian SMEs

Lithuanian financial intermediary SME Bank has signed a guarantee agreement with the European Investment Fund (EIF) to support local small and medium sized businesses (SMEs). The agreement is made possible under the “European Guarantee Fund”, an initiative of the EIB

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Lithuanian Startup Okredo Raises €1 Million Ahead of EU’s Open Data Directive Launch

Open data startup Okredo has closed a €1 million seed funding round led by the Lithuanian Business Angels Fund and Presto Ventures, with support from Startup Wise Guys as well as several angel investors. Okredo said that this round of

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InRento Scales Abroad With Spain Expansion and Buys Estonia’s BitOfProperty

Lithuania’s buy-to-let crowdfunding platform InRento is scaling abroad by expanding its operation to Spain and acquiring Estonian real estate marketplace BitOfProperty, which offers a similar service. InRento said that its expansion into Spain was a natural move as there are

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Finnish Fintech Saldo Receives European Central Bank’s Specialised Banking License

Saldo Finance, a subsidiary of Finnish Saldo Finance Plc, has been granted European Central Bank’s (ECB) specialised banking license in Lithuania. ECB’s specialised banking license will make it possible for Saldo to accept deposits, grant loans and provide funds transfer

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Lithuanian Payments Firm kevin. Secured US$10 Million in Seed Funding

Lithuanian payments startup kevin. announced that it has has secured US$10 million of new capital in a seed funding round, bringing its total funds raised to US$14 million. The funding round was co-led by OTB Ventures and Speedinvest, European venture

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