Airwallex Expands into Lithuania

Payments and infrastructure Fintech Airwallex is expanding into Lithuania, according to a note from the firm.

Airwallex currently operates in 19 locations around the world, including a presence in Asia Pacific, Europe, the UK and North America. Airwallex employes approximately 1200 individuals. After its last funding round, Airwallex was valued at $5.5 billion. Last year, Airwallex processed almost $50 billion in transactions.

Airwallex says that it is establishing operations in Lithuania as it recently received an electronic money institution (EMI) license from the Bank of Lithuania. Airwallex has set up an EMEA service hub in Vilnius.

Airwallex provides financial infrastructure for businesses to accept payments and move money internationally. In Lithuania, Airwallex’s team supports small and medium-sized enterprises (SMEs) with their global payment infrastructure needs.

Virgilijus Mirkės, General Manager at Airwallex Lithuania, said operations in Lithuania provide FX and fast payments around the world.

“As we continue to expand our presence in Lithuania, we will continue to announce new services and products to enable businesses of all sizes to accept, hold and convert money,” commented Mirkės.

Airwallex offers five core products to European SMEs: Payment gateways, Wallet services, FX Engine, GTPN (Global Treasury Payment Network) and Issuing.

Mirkės added that Lithuania’s regulators are forward-thinking and encourage innovation, supporting the Fintech sector.

“As we continue to provide global payments across the world, our presence across EMEA will continue to grow, and we see Lithuania as a great place for us to build foundations that support our regional operations and is a source for motivated talent.”

Elijus Čivilis, General Manager at Invest Lithuania, commented on Airwallex’s presence in the country:

“Lithuania’s tech talent has helped multiple Fintechs scale up and support their operations across Europe. I am sure that Airwallex will find fertile ground for sustainable EMEA growth in Lithuania.”

Airwallex also has plans to expand further into the middle east later this year.

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