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There are plenty of reasons why Vilnius, Lithuania’s capital city, has an increasingly visible startup sector. Vinted (first Lithuanian unicorn, secondhand fashion online marketplace which raised €128 million in an equity funding round, valuing the company at over €1 billion in 2019). What is it weak in?
Railsbank , the London-headquartered Banking-as-a-Service platform, has raised $37 million in new growth funding. This will include the launch of “credit cards as a service” in the U.S. Railsbank is a utility for the complete financial services backend: platform, connectivity, operations, scheme memberships (e.g.
Eneba , a marketplace for gamers that sells games and other products, has raised an $8 million round of funding from Practica Capital and InReach Ventures. Security has risen up the agenda in online gaming as virtual goods and services connected to games can be highly susceptible to fraud or theft.
SumUp , a London-based startup that helps businesses power revenues through card payments — by way of physical readers, online payments, invoices and other services — is itself powering up in a big way. and basing their service around small card payment dongles that attached to phones or tablets. in an all-cash deal.
The company has raised $100 million in a round of funding led by Novator — the European firm that’s backed Deliveroo, Stripe and Tier, among others — with Burda Principal Investments and General Catalyst, and individuals including Ilkka Paananen of Supercell, Miki Kuusi of Wolt and Matt Mullenweg of Automattic also participating.
Revolut, which has a banking license in Lithuania, wouldn’t say exactly how many customers were affected. Last year Revolut raised $800 million in fresh capital , valuing the startup at more than $33 billion. Revolut confirms a fresh $800M in funding at a $33B valuation to supercharge its financial services super app.
The dating service offers the same features in Europe as it does in the US , using the existing profile you’ve created on Facebook to find potential matches. Facebook originally planned to launch its dating service in Europe back in February. Facebook originally planned to launch its dating service in Europe back in February.
The company also announced that their service was generally available starting today. The company has raised $54.4 The company has been spread out from the beginning, even before COVID, with offices in Seattle, New York and Lithuania, and that has helped in terms of having a broader base to recruit from. million Series B today.
The company just raised a $12 million Series A funding round (€11 million) led by Index Ventures. Montonio currently supports all major banks in Estonia, Latvia, Lithuania and a few major banks in Finland. For each service, we’re building multi-threading in our product. That’s much cheaper than card payments.
We launched 24 new retail and business products, expanded into the US, Japan and Australia and launched banking services in Lithuania, all while significantly improving our profitability,” founder and CEO Nikolay Storonsky said in a statement. “We Revolut has been launching a ton of products to diversify its sources of revenue.
Founded in 2009, Strava has emerged as one of the preeminent activity tracking services, proving particularly popular in the cycling and running fraternities which use the Strava app to plot routes, converse with fellow athletes, and record all their action for posterity via GPS. . Terms of the deal were not disclosed.
To power the expansion, which will see Lightyear land in 19 new markets, including the Baltics and much of Western Europe, London-based Lightyear has also raised $25 million in a Seres A round of funding led by U.S. And let’s not forget about New York-based Lightyear , a telecom service procurement service.
The startup raised a $5.2 The startup currently takes a fee on crypto-to-fiat transactions, but the company plans to move to a more traditional software-as-a-service subscription model as it’s more transparent for the end users. From this platform, you can initiate payments and reconcile operations across multiple accounts.
Trying to bring more clients and freelancers to the platform, oDesk recently introduced a new service. “On In our customer service team we have a hundred freelancers, in our trust and safety team we have another hundred, in our engineering team we have close to 150.
its home country), the company now has a full banking license in Lithuania. That’s why the company managed to raise a $800 million funding round at a $33 billion valuation in the middle of 2021. While customers can create an account for free, users have to pay some fees for some money management services.
With this new mechanism, fund managers should be able to raise a new fund more easily. And he strongly believes that the ability to raise large growth rounds in Europe will lead to large tech companies down the road. France wants to go one step further and create a European Tech Talent service desk with a dedicated team.
The mix of debt and equity is typical for a company building, effectively, a leasing business: it is the same approach Grover took when it raised $71 million for its Series B a year ago. And it’s a movement that is playing out in other categories, too, with Vinted (out of Lithuania) now valued at $4.5
“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. ” Flagright has raised a total of $3.2 Nadig to co-launch Flagright. “Flagright is quite disciplined in spending.
Data from FDI Markets * , the Financial Times’ cross-border investment monitoring service, indicates that London has attracted the highest number of foreign direct investments ( FDI ) into tech from international companies for the past few years, ahead of Singapore, Dubai, and New York. . Cross-border investments.
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