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Locals share why Vilnius, Lithuania is becoming an international startup hub

TechCrunch

There are plenty of reasons why Vilnius, Lithuania’s capital city, has an increasingly visible startup sector. Lithuania is now fourth in the global fintech ranking after the U,S,, the U,K, and Singapore. Lithuania’s life sciences sector is gaining prominence. But what are the locals excited about on the ground?

Lithuania 103
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Freelancing is the new normal: oDesk and the future of the workforce marketplace

The Next Web

For us, the opportunity is not about taking market share from other players, it’s really about expanding the awareness of online work and hiring these virtual global teams as an alternative to traditional way of recruiting or building a company,” he said. That’s where the Private Workplace comes in. Focus on the East.

Russia 151
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Strava acquires Fatmap, a 3D mapping platform for the great outdoors

TechCrunch

Strava , the activity tracking and social community platform used by more than 100 million people globally, has acquired Fatmap , a European company that’s building a high-resolution 3D global map platform for the great outdoors. Terms of the deal were not disclosed. ” While Fatmap is incorporated in the U.K.

Map 102
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Nord Security, the startup behind NordVPN, raises its first-ever funding, $100M at a $1.6B valuation

TechCrunch

What’s notable here is that Vilnius, Lithuania-based Nord has been bootstrapped for the last 10 years (it was founded in 2012), a state that doesn’t seem to have held back its growth. Internal security teams were increased and the company now goes through regular audits, in partnership with U.S. firm Versprite.

Fund 98
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Flagright offers transaction monitoring with usage-based pricing

TechCrunch

“I used to run the product team at a fintech startup in Lithuania, and one of my responsibilities was compliance and fraud prevention,” Ozkan said in an email interview. You simply integrate, click ‘Activate,’ and it works.”

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Grover grabs $330M to double down on the circular economy with consumer electronics subscriptions

TechCrunch

Grover doubled subscriptions and business in the last year, and it currently has half a million items in its catalogue available for subscription, 2 million registered users and 250,000 active customers (some are subscribing to use more than one gadget). That growth has been riding on several concurrent market trends.

Austria 86
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Despite remote work and the economic downturn, some companies look to London for expansion

TechCrunch

This includes international companies that are establishing a presence for the first time, and those that are expanding an existing footprint (this may include M&A activity). Proton , the Swiss company behind encrypted email service ProtonMail , already has hubs across its native Switzerland, Lithuania, North Macedonia, and Taiwan.