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Economy

Icelandic payment entrepreneurs establish HQ in Vilnius

Paystra, a fintech company founded and financed by Icelandic payments experts, providing payment services, is establishing its headquarters in Vilnius, Lithuania, and plans to build a team of 30 professionals over the next two years. The company, led by two payment market veterans, will develop and deploy state-of-the-art electronic payment solutions for European merchants, a press release from Invest Lithuania states. […]

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Economy

Revolut turns new page with Lithuania-facilitated banking license

Today, Revolut together with the Bank of Lithuania have announced that the challenger bank received a Specialised Banking License, which will allow offering and passporting an even wider range of solutions to customers in Europe. The move of getting a license in mainland Europe has been considered by many a hedge against Brexit. Having received both the Specialised Banking license and Electronic Money Institution facilitated by the Bank of Lithuania, Revolut is now effectively safe from any decision regarding Britain leaving the EU. From 2019, Revolut will start accepting deposits and offering retail and business lending, making it an even bigger rival for traditional banks, a press release from Invest Lithuania states. […]

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Economy

Israeli cloud services integrator chooses Vilnius for European base

TeraSky, a leading Israeli cloud solutions integrator, has just announced the opening of its European branch in Vilnius, Lithuania. The company, whose customer base includes global enterprise leaders in high-technology, finance, defence, cyber, telco and other areas, plans to hire several dozen local specialists. The Vilnius office will be responsible for software development, professional services and regional support, a press release from Invest Lithuania states. […]

Continental factory construction begins
Economy

Largest investment in 20 years: Continental launches plant construction in Lithuania

German car parts giant Continental on Friday launched the construction of a new plant, worth 95 million euros, in Lithuania’s second-largest city of Kaunas’s free economic zone, in a largest investment in the country in 20 years. […]

Revolut
Economy

FinTech development in Lithuania gathering pace

Favourable conditions for the development of financial technologies (FinTech) in Lithuania have already attracted numerous domestic and foreign companies. Upon implementation of planned initiatives for fostering FinTech development, the sector is likely to attract more investment and create more jobs, while consumers may be offered a wider range of financial services. […]

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Economy

Lithuania emerges as blockchain gateway to Europe

Hot on the heels of issuing of the Europe’s fastest e-money (EMI) license to the numerous global tech companies, Lithuania has announced it will host Europe’s first international Blockchain Centre. The Centre’s mission: to unlock economic and social value by applying blockchain technology to business, finance, and public administration, a press release from the Blockchain Centre states. […]

Mantas Katinas
CORPORATE

Invest Lithuania head – Lithuanian businesses are missing 20-30 thousand employees

“We have to listen to the youth more often. We often think that the older, the wiser and more experienced, but the world changes quickly and the future has to be created by young people […]

Christmas tree in Kaunas
Economy

Netherlands’ GeoPhy setting up services centre in Kaunas

GeoPhy, a Dutch big data company that collects, processes and analyses data on the global real estate market has set up an office in Kaunas. By mid-2017, the company plans to have recruited up to 25 experienced specialists who will be responsible for collecting and analysing data from all over the world. They will be doing this from Kaunas, GeoPhy announced in a press release. […]

Western Union service centre in Vilnius
Economy

Lithuania’s shared services sector records 12% growth

Personnel levels in Lithuania’s shared services sector have increased by 12% this year. And with 7 new centres established in the last 12 months, there are now a total of 50 shared services centres operating in Lithuania, Invest Lithuania reported. […]