While traditional European financial centres grapple with economic headwinds and regulatory complexities, Lithuania continues to punch above its weight, reinforcing its position as the EU’s largest fintech hub by license count.
Lithuania, hitherto overshadowed by Europe’s more established financial centres, continues to cement its status as the European Union’s leading fintech hub by sheer number of licensed companies.
Despite global economic turbulence and tightening regulatory conditions, Lithuania’s fintech sector has shown impressive resilience and a newfound maturity, according to a recent report published by Invest Lithuania, the country’s foreign investment promotion agency.
The report, Fintech Landscape in Lithuania 2024-25, reveals a vibrant ecosystem of 282 fintech firms collectively serving over 30 million customers across Europe. The country’s fintech workforce has nearly doubled over the past five years, now employing close to 8,000 professionals.
Such growth underscores Lithuania’s successful strategy of leveraging agile regulation, digital infrastructure, and proactive government policies to attract firms from London, Frankfurt, and other traditional finance capitals.
A self-sufficient sector
“Lithuania’s fintech sector has evolved from rapid expansion to sustainable growth and increasing maturity,” says Elijus Čivilis, general manager of Invest Lithuania.
“What stands out in this year’s findings is the sector’s financial self-sufficiency, with 60 per cent of companies primarily relying on revenue funding rather than external investment. This demonstrates a healthy ecosystem where businesses can scale through their own operations—something not commonly seen in other markets.”
Payments continue to dominate, capturing around 30 per cent of the fintech market share, reflecting Europe’s ongoing shift away from cash and traditional banking services.
Yet, notably, the blockchain and cryptocurrency segment expanded from 13 to 15 per cent, reflecting a broader global trend towards decentralised finance. The report anticipates a stabilisation in this growth, however, as the EU’s stringent Markets in Crypto-Assets (MiCA) regulation comes into force, obliging crypto firms to secure formal licensing.
While regulatory compliance may slow entry into the crypto market temporarily, it could also drive maturity and credibility in a historically volatile industry.
Women to the fore
Lithuania’s fintech community stands out not only for its rapid expansion but also for its gender diversity—a rarity in the tech-driven financial world. Women comprise 46 per cent of the sector’s workforce, well above global averages.
Erika Maslauskaitė, CEO and co-founder of deverium and alongID, highlights the sector’s progressive approach: “Lithuania’s thriving fintech ecosystem has created meaningful opportunities for women leaders, with nearly half of the workforce being female,” Maslauskaitė notes.
“As more women take the lead, the industry gains not only their expertise but also fresh perspectives that fuel innovation and foster more inclusive product development.”
Internationalisation also characterises the sector’s evolution. Nearly half of Lithuania’s fintechs are headquartered abroad, spanning over 30 countries.
Fintech with an international flavour
Additionally, the share of companies employing international staff at their Lithuanian offices has risen to 57 per cent, up from 53 per cent a year earlier. This international flavour underscores Lithuania’s growing appeal as a European launchpad for fintech operations targeting multiple markets simultaneously.
Future growth prospects remain robust. An overwhelming 88% of fintech companies anticipate expanding their teams in 2025, with roughly one-quarter planning to recruit at least ten new employees. Such optimism suggests that, despite broader economic uncertainty, Lithuania’s fintech sector remains bullish—both in confidence and ambition.
Lithuania, once a peripheral player in European finance, now firmly leads a fintech charge, proving resilient enough to not only withstand global headwinds but flourish amid them.
Photo: Dreamstime.
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