Lithuania has made a significant progress in creating a suitable environment for the development of the Fintech sector: legal acts regulating P2P lending platforms have been adopted, simplified procedures for getting licences for the activities of payment and e-commerce institutions have been approved, and the government has approved the Draft Law on Crowdfunding. As a result, Lithuania has become a hub for fintech companies in the European Union. This list of popular fintech companies Lithuania will give you an overview of the fintech sector in the country:
TransferGo is Lithuanian Start-up that aims to change the way we see money transfer. Launched in 2012 by Edvinas Sersniovas, Arnas Lukosevicius, Justinas Lasevicius and Daumantas Dvilinskas, the company offers money transfer services. It claims to be 10 times cheaper than cash bureaus and banks; they also guarantee faster delivery without extra charge. Currently, their service is available in 39 countries.
2) Moneta International
Licenced in 2016 in Lithuania, Moneta International offers an innovative and unique B2B payment and cash management. The Moneta system reduces the need for big accounting departments, lessens the regulatory burden, and offers a user-friendly and secure cash management platform. Headquartered in Vilnius, the company is gearing up for substantial expansion in future. Total investment is estimated to surpass €1 million, including the Moneta platform.
WoraPay helps retailers to increase sales while saving time for their customers. The company helps banks and other mobile wallets to allow remote mobile payment methods and access new markets and merchants. It was recognised by The FinTech50 2015 as one of the hottest Fintech businesses in Europe.
Established in 2004, Paysera is an international electronic payment system that allows people to receive and send money all around the world, collect payment and exchange currency via the Internet or by SMS messages. Paysera also offers payment collection services and e-commerce solutions for businesses.
Cardinity is an online card payment processing provider that is active in the European Union. The company is registered to offer MasterCard International and Visa Europe payment cards processing services in the EU. The company has been active since 2007 and always strive to improve the provision of online payment solutions.
Coingate is a Bitcoin payment processor that allows businesses to accept Bitcoin and receive pay-outs in US Dollars, Euros or bitcoin. The company calculates how much bitcoin is worth, in real time, by picking the best price from numerous Bitcoin exchanges.
Lenndy is the first real estate crowdfunding platform in Lithuania. The platform allows people to lend money to businesses and individuals and earn a 12 percent annual return. Transparent and easy to use Lenndy system is a good alternative to traditional banking structures.
OPAY is an online payment collection system for e-commerce. The company specialize in online payment collection solutions. It allows people to pay for goods and services they purchase from online stores in the most convenient way.
SAVY is the first P2P online lending marketplace in Lithuania focused on secured and unsecured consumer loans. The company connects European investors with Lithuanian borrowers. Unlike other P2P platforms, SAVY does not use deposit account to distribute payment or collect money. It connects investors and borrowers directly through their bank account.
DEBIFO is an online invoice finance solution for SME’s. Its platform allows SME’s to free up frozen working capital by offering funds based on outstanding invoices. The company invoice finance solution shortens receivable payment period from 30 – 120 days to only a few days.
Mintos is a Latvia p2p lending marketplace that started to operate in Lithuania in 2015. Lithuania is the 3rd country Mintos operates in after Latvia and Estonia. The company connects borrowers and investors of various loans originators. At Mintos both institutional and retail investors invest in fractions of secured car loans, unsecured loans, mortgage loans, and small business loans originated across Europe,
For more information on the listed Lithuania Fintech Companies, please visit their respective websites. Subscribe to our updates on Facebook and Twitter.