Bulgarian fintech firm Payhawk has expanded into Lithuania by securing an Electronic Money Institution (EMI) license from the Bank of Lithuania. With this license, Payhawk aims to bring innovation to its customers and plans to release new features for managing various types of spending in multiple global currencies.
Facts
- Payhawk expands into Lithuania after obtaining an EMI license from the Bank of Lithuania.
- The company aims to gain more business in the Baltic region through its presence in Lithuania.
- Payhawk is in discussions with a significant number of Lithuanian businesses interested in optimizing their business spend.
- Payhawk plans to hire professionals with finance, payment operations, and risk assessment backgrounds to support operations in its new Vilnius office and develop new products.
- Payhawk became Bulgaria’s first unicorn in March last year after a $100 million Series B extension round. Prior to that, it raised $112 million in Series B funding.
- Founded in 2018, Payhawk is headquartered in London and has offices in various cities worldwide, including Vilnius, after its expansion. It offers services such as business payments, company cards, reimbursable expenses, accounts payable, and accounting software integrations.
- Payhawk serves customers across 32 countries in Europe, the UK, and the US.
