Lithuania was at the right spot on correct time – but inaddition it capitalised off of the blog post-Brexit opportunity.
Throughout the article-Brexit scramble out of enterprises searching for an eu Hq, Lithuania has actually rocketed to the top of Europe’s fintech scene – which will be recognized by many since EU’s fastest-broadening fintech middle.
But how performed it Baltic country have the ability to attract the loves off Contour and SumUp? And you can exactly what classes if the remainder of Europe’s fintech ecosystems learn away from Lithuania?
Inside latest Sifted Conversations, we talked about this plus with this panel out of benefits including; Marius Jurgilas, board member of the bank out of Lithuania; Nathalie Oestmann, COO away from fintech scaleup Contour; and you can Dimitri Gugunava, Vice-president of financial from the London area-mainly based payment providers, SumUp.
step 1. Lithuania captured a chance immediately following Brexit
When you look at the 2014, there had been 55 fintech enterprises inside the Lithuania, but towards the end from 2020, there were 230 inserted and you may authorized fintechs. It means the fintech sector grew because of the almost 320% within just half a dozen years.
Where performed this boom inside fintech are from? Oestmann and you can Gugunava one another mention Brexit once the catalyst, because written a chance and that Lithuania grabbed. But Gugunava alerts that it “right place, right time” circumstances setting its prompt triumph was burdensome for various countries in order to recite.
“Lithuania wound up on the best source for information during the right time. It would be problematic for others to check out. Lithuania are in the future now into the strengthening a personal-strengthening environment regarding attracting a whole lot more fintech – and therefore pulls significantly more ability, and therefore draws a great deal more fintech investors. (more…)