Tagged: lithuania

September 12, 2020 @ 5:00 pm By Xu Gao  |  

CBIRC: Increasing Efforts to Crack Down on New Types of Illegal Commercial Insurance Activities Recently, the Anti-Illegal Financial Activities Bureau of China Banking and Insurance Regulatory Commission (CBIRC) published an article entitled “Analysis of Illegal Commercial Insurance Activities and Regulatory Suggestions” in “Observation of Insurance… Read More

August 19, 2020 @ 8:20 am By Omar Faridi  |  

Tallinn-based EvoEstate has reportedly secured €140,000 in additional capital through a pre-seed extension. The Fintech firm has now closed its €320,000 pre-seed investment round. EvoEstate aims to offer an innovative investment platform that’s supported by Lithuanian startup Wise Guys, which is a Hong Kong-based stealth… Read More

July 10, 2020 @ 4:20 pm By Omar Faridi  |  

The developers of Oslo, Norway-based Opera Browser revealed that they will be launching their first consumer Fintech offering for the European market. Opera, which is now Chinese-owned, said it will be acquiring Fjord Bank, which will help the internet browser developer with accelerating the launch… Read More

May 23, 2020 @ 4:24 pm By Omar Faridi  |  

The global economy has slowed down considerably during the past few months due to COVID-19. Many businesses and industries have been negatively affected, including financial services providers. The pandemic has destabilized private capital markets. Investments in new initiatives and early-stage companies have decreased significantly. During… Read More

May 4, 2020 @ 7:28 am By JD Alois  |  

Revolut, a digital bank with 12 million users worldwide, is taking the next step in becoming a true bank by utilizing its European bank license in Lithuania. Previously, Revolut has been offering most services with an e-Money license. Revolut said it intends to passport its… Read More

April 20, 2020 @ 1:17 am By Omar Faridi  |  

Lithuania-based Genome, a Fintech firm that provides a financial ecosystem to support individuals and businesses, will be helping companies process their e-commerce transactions. The Fintech company will be opening a business account for low-risk businesses that are currently using the Genome platform. It will also… Read More

April 6, 2020 @ 7:51 am By Omar Faridi  |  

Swedbank AB, a Nordic-Baltic banking group headquartered in Stockholm, Sweden, is reportedly sponsoring a global hackathon, which will try to find solutions to deal with the  deadly Coronavirus (COVID-19) outbreak. The event, which is scheduled to take place between April 9-12, 2020, aims to be… Read More

April 5, 2020 @ 9:53 pm By Samantha Hurst  |  

Digital bank Revolut recently announced plans to move non-UK customers in Central and Eastern Europe in its newly licensed Lithuanian entity before the end of the Brexit transition period in December 2020. The company went on to share more details about its response to Brexit…. Read More

March 19, 2020 @ 1:34 am By Omar Faridi  |  

Latvia-headquartered Citadele Bank has teamed up with Baltics’ non-bank factoring provider, SME Finance, and has invested €10 million in the company. The bank also noted that it would be offering a loan relief program to clients who may have been affected by the coronavirus (COVID-19)… Read More

January 16, 2020 @ 11:14 am By Omar Faridi  |  

The Baltic region’s finance industry has been struggling and some of the area’s countries including Estonia, Latvia, and Lithuania have reportedly been indirectly involved in money-laundering scandals that were allegedly orchestrated by large Nordic banks. However, Lithuania’s capital has been able to develop its local… Read More

October 24, 2019 @ 8:54 am By Cali Haan  |  

The Bank of Lithuania, the country’s central bank, has issued guidelines intended to, “provide greater regulatory clarity and aim at higher investor protection,” in the country’s security token offering (STO) market. Lithuania has been working hard to establish itself as a Fintech leader in the… Read More

October 21, 2019 @ 8:24 am By JD Alois  |  

Vilnius, the capital of Lithuania, is topping far more established innovation hotbeds when it comes to tech startups and greenfield Foreign Direct Investment (FDI) projects, on a per capita basis. According to the Financial Times’ fDi Intelligence division, Vilnius beat out Tel Aviv, Singapore and… Read More

September 8, 2019 @ 12:10 pm By Omar Faridi  |  

DappRadar, a Lithuania-based Fintech firm that tracks data for decentralized applications (dApps), raised $2.33 million in a recent seed funding round. DappRadar, which lists current data for leading blockchain networks including Ethereum, EOS, Tron, IOST, and Ontology, received funding from South African media group Naspers,… Read More

July 22, 2019 @ 7:25 am By JD Alois  |  

Evarvest, a Lithuania-based startup that is preparing to launch a new trading app, has easily topped its €75,000 goal on Seedrs to raise €235,000. Evarvest sold equity in the company at a pre-money valuation of €1.175 million. Evarvest plans to launch the app later in… Read More

July 8, 2019 @ 11:00 am By JD Alois  |  

Short term real estate financing platform EstateGuru has been added to the list of approved crowdfunding platforms by the Bank of Lithuania, according to a release. The company has been operating since 2014, connecting an international group of investors and businesses to real estate backed… Read More

June 17, 2019 @ 3:48 pm By Cali Haan  |  

Lithuania’s previously unregulated cryptocurrency sector will now have to abide by provisions set out in the Fifth EU Anti-Money Laundering Prevention Directive, Lithuanian news outlet Delfi reports. Amendments to existing laws, made last Wednesday by members of the Lithuanian cabinet, oblige all crypto businesses in… Read More

May 21, 2019 @ 8:36 am By JD Alois  |  

Evarvest, a startup that is striving to “unite the worlds stock exchanges, making it simple to invest” is crowdfunding on Seedrs. Evarvest is looking to raise a minimum amount of £75,000 at a pre-money valuation of £1.175 million. As of today, Evarvest has raised over… Read More

April 8, 2019 @ 10:58 pm By Cali Haan  |  

Lithuania has been moving for some time to establish itself as a Fintech leader in the Baltics. According to the previous reporting at Crowdfund Insider, the country registered 35 new Fintechs in 2017, and in early 2018, Invest Lithuania Managing Director Mantas Katinas promoted the… Read More

February 21, 2019 @ 8:43 am By Cali Haan  |  

Blockchain, an early Bitcoin wallet startup that has lately expanded its services to include institutional crypto trading services, has announced it is “thrilled” to be opening a fifth location in Vilnius, Lithuania. Blockchain says that after considering “several options,” Vilnius was selected for its, “vibrant… Read More

January 5, 2019 @ 4:20 pm By JD Alois  |  

Lithuania wants to be the leading Fintech hub in Europe. Beginning in 2013, the small Baltic nation decided to take action and become one of the EU’s “hottest destinations for Fintech.” Mantas Katinas, MD of Invest Lithuania – the public entity leading the Fintech charge in… Read More