The German banking cloud platform "Mambu" will build an engineering center in Lithuania and plans to employ up to 100 specialists in three years.
The Vilnius branch will be one of the main engineering centers of the company, responsible for product development, the Foreign Investment Development Agency reported.Invest in Lithuania".
According to Eugene Danilkis, head of Mambu, Lithuania has flexible regulation and a business environment favorable to the development of financial technologies.
"Vilnius has been in Mambu's sights for some time, because it is an exceptionally favorable city for the development of financial technologies," he said in a statement.
Mambu, a platform for banks, financial technology companies and financial service providers, is founded in Germany and provides lending, deposit, trade finance services and commercial loans.
The company plans to collaborate with local universities and other fintech and IT organizations.
The company's clients include financial technology companies N26 and OakNorth, and telecommunications giant Globe Telecom.
