Next Generation Partners

Leading Associates

Fintech in Lithuania

Ellex

The fintech practice at Ellex operates alongside the firm's banking and finance team. The team is highly capable of obtaining fintech licenses in the ever-changing regulatory environment in Lithuania. Despite tighter regulations from the Bank of Lithuania, the practice has grown, bringing in new lawyers and handling matters for an increased number of clients. The team’s strong knowledge is demonstrated by its handling of payment institution licensing work, venture capital investment into fintech startups, and further licensing work in the electronic money market. The team is led by Ieva Dosinaitė and Giedrius Stasevičius, who bring a wealth of experience representing clients in the Lithuanian fintech market.

Praxisleiter:

Ieva Dosinaitė; Giedrius Stasevičius


Weitere Kernanwälte:

Eglė Neverbickienė


Referenzen

‘Ellex’s Fintech team really helped our electronic money institution with many difficult challenges. Their advice on building a distributor model, like making important contracts and an oversight plan, showed their strong knowledge of the fintech area. Also, their skills in regulatory rules and risk management for bringing in crowdfunding platforms helped us manage payments from investors to project owners without worry.’

‘Ieva Dosinaitė’s knowledge of complex fintech regulations was essential in developing our distributor model and ensuring compliance across the board.’

‘We have appreciated how hands-on and responsive the team has been in addressing any queries or concerns we’ve raised. They’ve worked diligently to ensure that all matters related to billing were clarified to our satisfaction. Additionally, their use of technology and collaborative tools streamlines communication, making it easy to stay updated on all developments. This focus on efficiency and innovation reflects the firm’s forward-thinking nature and commitment to client satisfaction.’

Kernmandanten

Adenza


Payhawk


Vinted


Tenpay


Bank of America


Bosch


Visa


JP Morgan


Wise


Remitly


Highlight-Mandate


  • Advised Adenza, a portfolio company of Thoma Bravo, on the completion of the historic transaction for the acquisition of Nasdaq shares for a total value of USD10.5bn.
  • Assisted the UK-authorised payment service provider, Bud Financial, with obtaining a payment institution license in Lithuania for its local subsidiary Bud Financial and relocation of its European dimension activities to Lithuania.
  • Advised Taiwania Capital, one of the largest venture capital funds from Taiwan, on its investment in the Lithuanian fintech startup TransferGo.

Sorainen

The finance and insurance team at Sorainen has a knowledgeable practice that allows it to advise clients on a range of matters, from the development of banks, e-money, and payment institutions, and crypto-asset services, to licensing processes, product and operations structuring, AML policies, and compliance work. Tomas Kontautas has a strong banking regulatory profile dealing with both traditional financial market players as well as those in the fintech industry. He leads the practice alongside Augustas Klezys, who has particular expertise in advising clients on their licensing activities in the EU.

Praxisleiter:

Tomas Kontautas; Augustas Klezys


Referenzen

‘Sorainen’s Fintech practice is highly competent, offering detailed and well-structured legal analyses. They are particularly strong in corporate, product-related, and insurance dispute matters, where they provide clear and qualified assessments. The team’s familiarity with our business and its nuances has made collaboration seamless, as they understand the specific challenges we face.’

‘They are all highly skilled, and we have found them easy to work with due to their understanding of our business specifics.’

‘Well you cannot really describe in words what great legal advice means, but to be short and direct it’s SUPERB!’

Kernmandanten

Nuvei Corporation


BENKER UAB


Hokodo


Finolita Unio


Highlight-Mandate


  • Advised Nuvei Corporation on concluding a definitive agreement to be taken private by Advent International.
  • Advised B2B payment service provider Hokodo on raising EUR100m financing in the form of a multi-jurisdictional securitisation transaction.
  • Advised BENKER on obtaining the electronic money institution license and passporting to the EU, investigation by the BoL, and other legal and tax daily matters.

WALLESS

The fintech practice at WALLESS is regularly engaged in a range of work across the sector. The team is specialised in key areas, including payments, financial service regulations, and anti-money laundering, as well as compliance and general financial regulatory work. Within a growing industry, the practice has developed a strong knowledge of crypto-currency regulations and digital assets. The practice benefits from the leadership and experience of practice head Joana Baublyte-Kulviete, with key support from Gediminas Rečiūnas and Laurynas Narvydas.

Praxisleiter:

Joana Baublyte-Kulviete


Weitere Kernanwälte:

Gediminas Reciunas; Laurynas Narvydas


Kernmandanten

Vinted


NEO Finance


DiPocket


ScaleWolfManagement


RIA Lithuania


Typhoon Wealth Group Limited


Sound Asset Management


Nuvei


Yapily


SumUp EU Payments


Bigbank


Citadele


Highlight-Mandate


  • Advised Vinted on obtaining an electronic money institution license from the Bank of Lithuania, as well as launching licensed activities in Lithuania and abroad.
  • Advised Siauliu Bankas, the largest bank with Lithuanian capital, on signing an agreement with INVL, the leading investment management and life insurance group in the Baltic region, to merge segments of their retail businesses.
  • Assisted ScaleWolf Management with obtaining a management company licence from the Bank of Lithuania.

Cobalt

Cobalt‘s fintech practice covers a range of fields in the financial services regulatory market, from assisting clients in obtaining various financial licences and permits, to working with e-money institutions, financial brokerage companies, and banks. The team also offers a suite of services related to AML, compliance, and sanctions work. The practice is led by co-heads Eva Suduiko and Akvilė Bosaitė, who together bring a wealth of financial market experience to the team.

Praxisleiter:

Akvilė Bosaitė; Eva Suduiko


Referenzen

‘Attitude, people, performance.’

‘Akvilė Bosaitė is the go-to person. The level of alignment is unparalleled, which results in the process being handled the right way and also allows us to focus on commercial aspects of any deal.’

Kernmandanten

Alter Domus


Alpha Asset Management


S8 Global Fintech & Regtech Fund


Vipps


Practica Capital


Simpled Card Exploitatie B.V.


Socios.com


Viola Credits


European Bank for Reconstruction and Development


BlackRock


Highlight-Mandate


  • Advised Alter Domus (a fully integrated Fund and Corporate services provider, dedicated to international private equity and infrastructure houses, real estate firms, private debt managers, multinationals, capital markets issuers, and private clients) on obtaining a payment institution license in Lithuania.
  • Advised Alpha Asset Management on all matters related to obtaining an activity permit, prepared the required documentation for permit issuance, and represented the management company’s interests at the Bank of Lithuania.
  • Advised Slovenian asset management company S8 Global Fintech & Regtech Fund registered with the Slovenian Securities Market Agency on all aspects concerning the acquisition of 100% of shares of the payment institution ValorPay, UAB, under the supervision of the Bank of Lithuania.

ECOVIS ProventusLaw

ECOVIS ProventusLaw‘s fintech team offers a full service to clients across all aspects of their fintech activities. With a client list that spans both fintech startups entering the market to established multinational financial institutions, the firm demonstrates great knowledge of specialist areas. The practice regularly handles work for fintech companies, electronic money and payment institutions, crowdfunding platforms, cryptocurrency exchanges, and wealth technology companies. Inga Karulaitytė-Kvainauskienė co-heads the practice alongside Loreta Andziulytė.

Praxisleiter:

Inga Karulaitytė; Loreta Andziulytė


Referenzen

‘Great team with very good knowledge of the market and delivering detailed and good work.’

‘Our primary contact provides us with detailed answers to our questions and concerns.’

‘Provides strong support, guidance, and direction concerning MiCA regulations.’

Kernmandanten

Phoenix Payments


DeVere e-money


Capital Solutions Ltd.


DBX GROUP Limited


MADA MANAGEMENT Limited


KARMA RE SIA


Lama Technology


Wealth of Wisdom


Travel Union


Nandi Finance


Sardine


Nexchange


Highlight-Mandate


  • Represented a shareholder of UAB “deVere E-Money”  in a case in which the court has decided to satisfy an appeal and declare the Bank of Lithuania’s decision to impose the sanction null and void.
  • Assisted a client in developing a new model for how it could cooperate after Brexit to achieve the synergy of both businesses in card issuing using the client’s Lithuanian license.

Motieka & Audzevicius

Motieka & Audzevicius‘s financial services team is consistently engaged with fintech matters. Following a growth in the crypto sector within Lithuania, the team has adapted well, representing not just crypto-sector companies but also traditional financial services providers who are conducting business with such companies. The team has a successful regulatory and dispute practice and works on matters related to the fintech and cryptocurrency sectors. The team is led by Justinas Jarusevičius. Previous practice co-head Sigita Zavišienė departed the firm in October 2024.

Praxisleiter:

Justinas Jarusevičius


Referenzen

‘Transparent and reliable services.’

‘Sigita Zavišienė has been an exceptional regulatory and legal support to our business. We will continue using her.’

‘This practice is known for its dedication, expertise, and personal attention. Despite being a small team, every member brings a unique blend of technical knowledge and client-focused service.’

Kernmandanten

ABC Projektai, UAB


Alternative Payments, UAB


Nter Asset Management, UAB


AI Tokeneconomics Limited


Finbee Verslui


Zerosum Asset Management


IZI services LLC


Nordecum, UAB


Linas Agro, AB


Osum Securities


Nandi Pay


Olympic Casino Group Baltija, UAB


Highlight-Mandate


  • Represented ABC Projektai in a case against the Bank of Lithuania where the court stated that the revocation of a payment institution licence was a disproportional measure.
  • Advised Finbee Verslui, a leading alternative lender in Lithuania, on a financial deal where Finbee Verslui secured a significant EUR35m investment from Pollen Street Capital.
  • Assisted Linas Agro Group, agricultural sector leader, with the implementation of sanction screening and AML check procedures across group companies.

Response

The banking and finance team at Response works on various projects related to the regulations of financial services. The team is involved with the creation and evaluation of AML systems, alongside the assessments of various fintech models, and the presentation of such models to the Bank of Lithuania, Ministry of Finance, and other institutions. The team benefits from a wealth of experience provided by three co-heads: Vytautas Šenavičius, Tadas Lukošius, and Jakaterina Govina.

Praxisleiter:

Vytautas Šenavičius; Tadas Lukošius; Jakaterina Govina


Referenzen

‘Team works together as a whole, communication is quick and efficient, project management is well executed which is mainly confirmed by the results in licences being issued to clients by the regulator in the financial sector.’

‘Vytautas Šenavičius is hands-on and available.’

‘Tadas Lukošius provides excellent legal work, especially with licensing and post-licensing work, compliance, etc. Jakaterina Govina knows the supervisory environment, the expectations of the supervisory authorities at both national and EU level. Vytautas Šenavičius is a leading attorney in this field for many years.’

Kernmandanten

UAB „Trečia diena“


UAB “Bendras finansavimas”


UAB InRento


UAB HeavyFinance


UAB Finbee verslui


UAB FinoMark


UAB Crowdpear


UAB Greenit Crowd


UAB Capital Go Invest


UAB Nordstreet


UAB Hokodo


UAB NS Pay


UAB Būsto paskolų refinansavimas


UAB SME Bank


UAB SME Finance


UAB Mano bankas


NEO Finance, AB


Highlight-Mandate


  • Advised 10 of 13 ECSPs on obtaining crowdfunding service provider licenses under the new ECSP Regulation.
  • Advised UAB UCS BALTIC on the new business model and securing inclusion in the Bank of Lithuania’s list of payment institutions.
  • Advised smeGo on the “One Stop Shop“ function and agreements with their clients so that client’s funds are automatically debited.

Eversheds Saladžius (a member of Eversheds Sutherland)

Eversheds Saladžius (a member of Eversheds Sutherland)‘s fintech practice advises on significant fintech-related matters in Lithuania, including e-money and payment licences, crypto-asset disputes, data protection, and financial services regulatory matters. The team is led by Jonas Saladžius and Tomas Rymeikis, with the former focussing on e-money and payment licences, and the latter advising clients on regulatory matters.

Praxisleiter:

Jonas Saladžius; Tomas Rymeikis


Kernmandanten

Iban Online


GCC7 Services


Euronet


Highlight-Mandate


  • Assisted IBAN Online with European Crowdfunding license under the new Regulation on European Crowdfunding Service Providers.
  • Advised fintech company GCC7 Services on the retrieving of funds from an EMI platform whose license was cancelled.
  • Advising Euronet, a global financial technology solutions and payments company, on ATM business in Lithuania.

GLIMSTEDT Bernotas & Partners

GLIMSTEDT Bernotas & Partners‘s fintech team draws lawyers together from various fields, including the banking and finance, private equity, TMT, and IP teams. The group demonstrates expertise in advising clients on the development and function of e-commerce platforms. The practice is led by Linas Sesickas, who brings particular experience in handling legislation projects.

Praxisleiter:

Linas Sesickas


Kernmandanten

Credit union “Neris”


European Merchant Bank, UAB


Highlight-Mandate


  • Advising Credit union Neris on its daily business and development projects.
  • Advising European Merchant Bank, UAB on its daily business and development projects.

WIDEN

WIDEN‘s fintech team has been consistently advising institutions in this sector, offering support with licensing, establishing relations with regulators, and advising on various regulatory and compliance matters, including crypto-related activities. The team is led by the experienced Aušra Brazauskienė, who brings expertise in handling financial services regulatory matters.

Praxisleiter:

Aušra Brazauskienė


Referenzen

‘Deep experience in FinTech.’

‘Aušra Brazauskienė is very attentive to clients’ problems.’

‘The team is exceptionally up-to-date with all of the regulatory matters that affect their clients. They’re easy to communicate with, and deliver the results clearly and on time. Their work is precise and reliable, which is always something you look for in a legal partner.’

Kernmandanten

RATO Credit Union


Alende Holdings OÜ


Alende Payments


Mano bankas


LTL kredito unija


Šiaulių bankas


INVL Asset Management


European Merchant Bank


Oxylabs


PayRay Bank


Highlight-Mandate


  • Assisting RATO Credit Union with its conversion from a central credit union into a specialised bank.