Fintech Landscape in Lithuania, presented by Invest Lithuania

On May 24th, 2022, the Head of the Technology Team of "Invest Lithuania," Gintare Baciuliene, and Lithuanian Fintech advisor Liutauras Zilinskas, visited the Consulate General of Lithuania in New York. The guests were welcomed by the Lithuanian Consul General, Vaclovas Salkauskas, and by Baltic American Chamber of Commerce representatives John Kancans and Inga Klimasauskiene. Ms. Baciuliene and Mr. Zilinskas introduced the Fintech landscape in Lithuania, showcasing the fascinating and amazing growth of a Fintech hub in the country. Mr. Zilinskas highlighted that Lithuania is the largest Fintech hub in the EU in terms of licensed companies. The country is seeing a rapid influx of Fintech firms from all over the world - from 55 companies in 2014 to 265 Fintechs by the end of 2021. The size of companies setting up their presence in Lithuania varies, ranging from startups to global financial companies such as Revolut.

The mission of the Baltic American Chamber of Commerce (BACC) is to assist and support businesses from the Baltic States (Estonia, Latvia, and Lithuania) as they expand in the U.S., and it also helps to attract and assist American investment to the Baltics. Mr. Kancans, former head of anti-money laundering ("AML") in some of the largest American banks and corporations including Deutsch Bank, US Bancorp, GE Capital, and AIG, congratulated Lithuania for its achievements in the Fintech sector, and for arranging a satisfactory tax environment for foreign companies in the country.

Parties discussed possible ways to assist Lithuanian Fintech companies to scale overseas.

Learn more about how the BACC can help you here.