The new board of Fintech HUB LT includes a member of the board of Seven Seas Finance.
Seven Seas Finance board member Titas Budrys, fintech expert Asta Grigaitytė, ECOVIS ProventusLaw partner and lawyer Inga Karulaitytė-Kvainauskienė, Nikulipe commercial manager Erika Maslauskaitė, Fin-Ally! Founder and CEO Alexandre Pinot, Founder and CEO of Fronteria Financial Advisory Services Saulius Racevičius, and CEO of NEO Finance Paulius Tarbūnas are joining the new Fintech HUB LT managing board. The eighth and final member of the board will be elected by a separate ballot, as two candidates received the same number of votes in the election.
Fintech HUB LT currently brings together 59 Fintech sector players in Lithuania, including companies such as Vinted, Paysera, and ConnectPay. Since the beginning of 2021, the association has added almost 20 new members. Last year, over 10 sponsors joined the association.
“I am very glad that our association is growing rapidly every year and bringing more and more fintech experts together in one community. Only by being together, sharing our good experience and ideas, we can significantly contribute to the development of the Lithuanian fintech sector, to making it known in the world and to attracting new investments,” says Vaiva Amulė, head of Fintech Hub LT.
The association is in regular contact with regulators such as the Bank of Lithuania representatives and the Government of Lithuania, and other responsible institutions. The aim is to help create favourable conditions for fintech companies to operate and contribute to making Lithuania a centre of gravity for fintech companies in the Baltic region and across the European Union.
Fintech Hub LT was recognised as the most progressive fintech association in the Baltic States in the 2021 Fintech Awards, published by the UK’s Wealth & Finance magazine.
In 2021, the revenues of Fintech HUB LT’s members more than doubled compared to 2020, reaching over EUR 167 million. The sum of payment transactions also doubled to EUR 46 billion.
According to the Bank of Lithuania, the total amount of payment transactions carried out by Fintech companies in the first half of last year amounted to EUR 121,8 billion – 5,7 times more than in the same period last year. In addition, companies received revenues of EUR 208,2 million from licensing activities, 5,1 times more than in January-June 2020, 94% of which were generated by e-money and 6% by payment institutions.