Spend Management Fintech Payhawk Launches Operations in Lithuania

Payhawk, a global spend management solution, has launched in Lithuania and opened a local office in Vilnius.

Having recently obtained an Electronic Money Institution (EMI) license from the Bank of Lithuania, the company is looking “to hire a team of finance professionals that will help accelerate product development.”

Bulgaria’s first unicorn, Payhawk, says that it “simplifies business payments, combining company cards, reimbursable expenses, accounts payable, and accounting software integrations into a single product.”

Payhawk now serves clients “in over 32 countries and offers businesses across Europe, the UK and the US a single global solution.” With offices in London, Berlin, Barcelona, Paris, Amsterdam, Sofia, New York, and now Vilnius, Payhawk’s diverse customer base “includes well-known names such as LuxAir and Babbel.”

Saulius Žlabys, Managing Director at Payhawk Lithuania, said:’

“We have been engaging in conversations with a significant number of Lithuanian businesses that are looking to optimise spend and make their finance teams more efficient. We’ve always considered Lithuania an important country for us to operate in, and we hope our local presence will help us bring the benefits of Payhawk to more businesses in the Baltics.”

Payhawk has also recently “received an EMI license from the Bank of Lithuania.”

According to Hristo Borisov, CEO and Co-founder of Payhawk, the new license will accelerate the development of new features of the Payhawk platform:

“We chose to pursue a license from the Bank of Lithuania because of their commitment to proactively support innovative financial companies like us. The license will help us bring innovation to our customers; over the next year, we plan to release new features to help our customers better manage even more types of spending in even more global currencies.”

Payhawk states that it is “hiring highly experienced professionals for its new Vilnius office.”

In particular, Payhawk is “seeking professionals with a background in finance, payment operations, and risk assessment.”

Hristo Borisov added:

“Our company values include supporting flat hierarchies, taking ownership and responsibility, seeking and providing feedback, managing constructive critique, and speaking our minds. We understand that the best ideas don’t all come from the same place, so we encourage diversity and inclusion in all work areas.”

According to Elijus Čivilis, General Manager at Invest Lithuania, Payhawk is a great addition to the Fintech landscape in Lithuania.

“It is great to see that Vilnius is not only creating unicorns, but also attracting them. I’m sure that in Lithuania, Payhawk will find the right talent and support to continue its successful growth.”

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