In the latest Chambers FinTech rankings our Fintech team has been ranked in the top tier once again in Lithuania and Estonia. This is the third year in a row in Lithuania and second year in a row in Estonia that our teams have been named the top advisers in the fintech sector.

According to Chambers, “whether assisting the development of e-money and payment institutions or helping blockchain and cryptocurrency companies with a range of legal issues, Sorainen is a go-to choice for fintech work“.

The international directory, released on 10 December, also ranked Sorainen partners Augustas Klezys and Tomas Kontautas among the leading fintech experts in the region.

Augustas advises fintech companies on licensing applications with the domestic regulators and in regard to European directives. According to clients he is “a great team leader, very good with clients, calm and measured, and detail-focused.”

Chambers emphasise that Tomas has been involved in major recent legislative fintech initiatives. Clients say that “he is the man you want to have on your team, he really fights for his clients and finds creative ways to deal with situations on the legal and business side. He really helps the company move forward, and really fights for the client – that’s his main quality.“

Strong focus on fintech market development in Estonia and Lithuania

Not only do we advise top fintech companies in the Baltics, but we also continuously contribute to the development of the region’s fintech industry.

In the last year we advised KogoPay in obtaining an electronic money institution licence in Lithuania, assisted Bittiq with the licensing procedure, and helped Canada-based Nuvei to acquire the fintech startup Simplex. We have also partnered with Startup Wise Guys, an accelerator for new business in the Baltic States, the financial technologies centre ROCKIT and other fintech focused organisations. In 2020 we collaborated with members of the Association of Lithuanian Banks, the Financial Crime Investigation Service and the Bank of Lithuania in preparing “Guidelines on Customer Due Diligence”.

Our Estonian team has been representing FinanceEstonia, which is at the forefront of legislative changes pertaining to crypto-asset regulation and amendments to the Estonian AML act. Our team was also involved in a landmark dispute where for the first time Estonian courts analysed a token-holder’s right to unilaterally reverse a token purchase in an ICO context. As well as this, we advised the commodities trading firm Viking Commodities Capital on its issuance of EUR 10 million in digital bond tokens.

About Chambers and Partners

Chambers and Partners is an independent research company operating across 200 jurisdictions and delivering detailed rankings and insights on the world’s leading lawyers. Chambers empowers organisations to make informed decisions when selecting legal services, saving time and resources and reducing risk.