Lithuanian FinTech sector recorded 80% growth in revenue in H1 2022
IN BRIEF:
- Revenues from Lithuanian FinTechs’ banking activities reached €375m
- This was up 26 times on the first half of 2018, with the top ten highest-growth fintechs posting increases in revenue of more than 100%
- 263 FinTech companies are now domiciled in Lithuania employing 7000 people - a 19% increase over 2021
What does this mean?
Simonas Krėpšta, board member, Bank of Lithuania, says: “Vilnius is now one of the most important European FinTech hubs, but we are not looking to stop there. In 2023 we will take yet another step forward with the help of new long-term guidelines, closer institutional cooperation and an increased dialogue with market participants."
