Sorainen Lithuania Startup Team assisted International Fintech with launching operations in Lithuania. International Fintech, backed by investors from Israel, is developing a system that provides e-money and e-wallet services to online customers.
Sorainen provided legal support in the process of obtaining an e-money licence from the Bank of Lithuania. The licence authorises e-wallet and e-money services. Currently, Lithuania has 12 e-money institutions: International Fintech was the fifth with foreign capital backing.
“It is a great pleasure to see so much work bear fruit. Just recently the licensing process in Lithuania has experienced some favourable attention from local regulatory bodies, yet International Fintech was one of the first FinTech companies in Lithuania to set pathways in the licensing process. International Fintech is sure to make waves in the local market and abroad,” says Sorainen associate Artūras Asakavičius, who was instrumental in securing the necessary licensing for operations.
Sorainen Lithuania Startup Team also assisted International Fintech in establishing the company, its operating model and other questions.
The Sorainen team included associates Artūras Asakavičius and Vytautas Sabalys.