Payhawk Financial Services, the first "unicorn" of financial technology in Bulgaria, the leader of the expense management market, received the right to operate in Lithuania and opens an office in Vilnius.
According to "Invest in LithuaniaCEO Elijas Chivilis, Payhawk will fit perfectly into the country's fintech ecosystem.
"I'm happy that Vilnius not only creates, but also attracts unicorns. I am sure that Payhawk will find the right talent and support in Lithuania to continue its successful growth," he said in a statement.
"We have always considered Lithuania to be an important country for our operations and we hope that the presence of Payhawk here will help present the advantages of our company to the wider business community of the Baltic countries," Saulius Žlabys, director of Payhawk financial service, said in a statement.
According to Payhawk CEO and co-founder Hristo Borisov, the LB license will accelerate the development of new features of the Payhawk platform.
The Bank of Lithuania (LB) granted the company an electronic money institution license after evaluating Payhawk's business model, internal procedures and procedures, readiness to manage risks, ensure the prevention of money laundering and terrorist financing, service quality and other requirements, as provided for in legal acts, the LB reported.
Payhawk, which bills itself as the world's leading spend management solutions company, is looking for finance, payment operations and risk assessment specialists after receiving the license, the company said.
Payhawk's expense management platform simplifies corporate payments, consolidates corporate payment cards, accelerates employee expense reimbursements, enables more efficient accounts payable management, and integrations with accounting software make the work of financiers easier.
Payhawk currently serves customers in over 32 countries, offering a single global solution for businesses across Europe, the UK and JAV. Payhawk has offices in London, Berlin, Barcelona, Paris, Amsterdam, Sofia, New York.
