Firms To Watch: Fintech

Motieka & Audzevicius has a growing workload in relation to regulatory disputes connected with the fintech sector. Sigita Zavišienė, heads up the practice, which also handles licensing matters and transactions, in addition to assisting clients with compliance issues. The majority of the practitioners in the team have over ten years of practical experience in the fintech arena.

Fintech in Lithuania


Ellex recently strengthened its fintech team by recruiting senior associates Renatas Makelis and Eglė Neverbickienė from Lithuanian fintech company Paysera and TGS Baltic respectively. In other developments, Julija Šlekonytė and Neringa Mickevičiūtė made associate partners. The firm advises clients on the implementation of IT solutions, anti-money laundering regulatory and procedural matters, payments-related issues and it is also at the forefront of advice on EU legislative initiatives. The specialist practice is led by experienced banking partners Ieva Dosinaite and Giedrius Stasevicius.

Other key lawyers:

Julija Šlekonytė; Neringa Mickevičiūtė; Renatas Makelis; Gytė Maleckaitė; Domantas Gudonis; Eglė Radvilaitė


‘Speed, network and pulse of the industry knowledge. They are ahead of everyone.’

‘Ieva Dosinaite – sharp-minded, straightforward, knows how to handle sensitive situations. Neringa Mickeviciute – drive and passionate knowledge of AML/CTF areas. Gyte Maleckaite – speed of work and knowledge of corporate governance.’

‘It’s unique as Ellex is Top1 law firm with extensive experience and great network. A strong relationship with key market stakeholders is key to success – Ellex have that.’

‘Their extensive knowledge and experience stand out as well as professionalism. Quick to react, accurate to respond.’

‘The team is very pragmatic and knowledgeable.’

‘Strong knowledge of industry and environment in Lithuania and Europe. Very bright and helpful staff. Ability to go the extra mile.’

‘Very smart, engaging and innovative.’

‘Broad coverage of expertise and skills.’

Key clients

Curve UAB

Curve OS Ltd.

ConnectPay UAB


nanopay Corporation


ConsciousGrowth GmbH

Nordecum UAB

Finora kreditas UAB

Nikulipe UAB

Investment Evolution UAB

PayRay UAB

Work highlights

  • Advised Curve on obtaining an electronic money institution licence in Lithuania and the relocation of its European activities from Great Britain to Lithuania.
  • Provides legal assistance to ConnectPay on all compliance and commercial matters.
  • Provides legal assistance to Sonect Europe with regulatory matters.


Sorainen is heavily involved in the fintech market, with it advising a number of well-established players, and also assisting emerging entities through its collaboration Startup Wise Guys, an accelerator programme for local start-ups. The team is led by Tomas Kontautas and Augustas Klezys, with Kontautas predominantly focusing on regulatory compliance and Klezys focusing on licensing work. Other key names include counsel Lina Ragainytė-Mezenė, who has expertise in consumer lending. Another name to note is senior associate Auksė Trapnauskaitė, who recently joined from the Bank of Lithuania and specialises in anti-money laundering.


‘We are pleased to be assisted by Sorainen Lithuania. Deep field knowledge of theoretical and practical aspects of consumer lending in local market creates great value. Lina Ragainytė-Mezelė has very deep knowledge of the Lithuanian financial market, particularly, consumer lending.’

‘The Sorainen team was responsive and able to use their strong connections with the Lithuanian regulator to push for a great result for the client.’

Key clients

Nuvei Technologies Corporation

Bittiq B.V.

Smile Money Limited

Lightnet Pte Ltd

Verse Payments Lithuania UAB

Square Inc.

Sezzle Lithuania UAB


Work highlights

  • Advised Nuvei Technologies on acquiring Simplex, afintech startup providing fiat infrastructure to the cryptocurrency industry.
  • Advised Bittiq on launching its business across Europe.
  • Advised Verse Payments Lithuania on all issues related to its indirect acquisition by Square.

TGS Baltic

TGS Baltic's experienced banking team is highly active in fintech matters, particularly in relation to e-money, P2P lending, crowdfunding and cryptocurrency. The team advises both local and international clients, including Paysera and Revolut. Žygimantas Stankevičius, who was formerly head of legal at Luminor Bank, leads the practice and is well-versed in financial services regulations. In 2021, Aistė Patašiūtė and Sebastian Okinczyc joined from SEB bankas and Danske Bank respectively.

Other key lawyers:

Rasa Blinsturbienė; Aistė Patašiūtė; Sebastian Okinczyc; Karolina Lapinskaitė


‘Strong network of experts able to offer expertise in a wide range of subjects.’

‘TGS Baltic is one of the best law firms in Lithuania in every practice area they are serving. I appreciate their services and client handling. They are always responsive, helpful and resourceful in every case and matter of law.’

‘Partner availability and competence, efficiency, attentiveness to the needs of the client.’

‘Constructiveness, competence, quick answers.’

Key clients



Paysera LT

Guru Pay


Saldo Finance

European Merchant Bank


OTB Ventures

The Ministry of Finance of the Republic of Lithuania

The Lithuanian post

Mobile Pay


Work highlights

  • Advised the Lithuanian branch of Revolut on regulatory and commercial matters.
  • Advised Paysera LT on the 370,000 euros fine imposed by the Bank of Lithuania.
  • Advised the Ministry of Finance of the Republic of Lithuania on the development of a new generation payment platform for operating a single treasury account.


WALLESS is highly skilled in assisting fintech companies with licensing and e-licensing matters, corporate transactions and regulatory compliance. The firm has been particularly advising fintech companies on relocating from the UK to Lithuania because of Brexit. In addition, other recent work included assisting credit unions with their conversions into specialised banks. Gediminas Reciunas co-heads the team with Joana Baublytė-Kulvietė, who is a member of the Fintech Lithuania Group and handles regulatory compliance and transactions. Andrius Ivanauskas  was a new arrival in April 2022.

Other key lawyers:

Laurynas Narvydas; Lina Radaviciene; Simona Kisunaite; Akvile Marozaite; Andrius Ivanauskas

Key clients



RIA Financial Services



Railsbank / Payrnet




Stanhope Financial

Work highlights

  • Advised Simplex, a payment solution provider to the cryptocurrency industry, in an acquisition transaction with Nuvei, a Canadian-based payment technology company.
  • Advised Trust Pay on obtaining by its Lithuanian subsidiary Crius LT a specialized banking licence from the Bank of Lithuania and the European Central Bank.
  • Advised RIA Financial Services Ltd in setting up its payments business in Lithuania.


Cobalt acts for both local and international fintech players on licensing and regulatory compliance matters, as well as capital raising rounds. It also advises foreign fintech companies on entering the market in Lithuania, as well as assisting Lithuanian companies with expanding across Europe. Akvilė Bosaitė and Eva Suduiko jointly lead the team.

Practice head(s):

Akvilė Bosaitė; Eva Suduiko

Other key lawyers:

Aurelija Balčiūnė; Lina Aleknaitė-van der Molen; Greta Kvedaravičienė; Justina Aužbikavičienė

Key clients




ValorPay, UAB

TeslaPay, UAB

Wittix, UAB

Wallter, UAB

Paydoo Payments, UAB


B4Payment GmbH (SEPAexpress)

Work highlights

  • Advised a US-based “buy now, pay later” unicorn Sezzle Inc. on acquiring an electronic money institution (EMI) licence in Lithuania.
  • Advised PayPal on Lithuanian law requirements applicable to provision of payment services in Lithuania.
  • Advised Kevin EU, UAB, a payment initiation FinTech company and standard payment services disruptor, in a European roll-out of its activities as well as raising seed round investment from venture funds.

ECOVIS ProventusLaw

ECOVIS ProventusLaw advises a range of clients within this spacee including electric money, consumer credit and crowdfunding companies,  with additional strengths in handling blockchain and crytocurrency matters. Inga Karulaitytė-Kvainauskienė  leads the practice and is skilled in licening and transactional support. Loreta Andziulytė , whose background is in TMT and data protection, is also heavily involved in this field.

Other key lawyers:

Loreta Andziulytė 

Key clients

Digital Virgo Payment, UAB

Elektroninių mokėjimų agentūra, UAB


B4B payments

Paytend Europe, UAB

Binance, UAB


Agavis, UAB

Okeo payments


Watt & Volt S.A.

Alternative Payments, UAB

Monavate, UAB

Walletto, UAB

Fintech Hub LT association

Korala Associates Limited (KAL)

Sezzle Lithuania, UAB



Degica Co. Ltd.

Work highlights

  • Assisted Digital Virgo with creating and implementing a unique business model for passporting the electronic money institution license via a telecommunication operator across several jurisdictions.
  • Advised SONECT Europe on its incorporation in Lithuania, implementing a novel business model and securing all the regulatory permissions (including the electronic money institution (EMI) license) to allow private clients of various banks to withdraw cash directly from their accounts without using ATM.
  • Assisted Banxa Holdings with the incorporation of LT Internet Ventures and associated regulatory compliance pertaining to its planned crypto-related business activities.

GLIMSTEDT Bernotas & Partners

GLIMSTEDT Bernotas & Partners, which acts for clients such as Mastercard and Stripe, draws upon the expertise of practitioners with specialisms in banking and IT to assist with fintech issues. Since research concluded Andrius Ivanauskas left the firm.


‘They are very strong is certain areas (such as competition law), so they are the go-to firm for fintech / financial sector work where competition issues are anticipated.’

Key clients




Transcendent Group

LcX Opportunity Fund by Litcapital


Centerbridge Partners

Digital Care

Eiffel Investment Group

Discontract YesIron Wolf Capital


Work highlights

  • Advised Mastercard on variety of matters related to the regulation of PSD2 in Baltics.
  • Advised Transcendent Group on its service agreements in relation to outsourcing of financial regulated services.
  • Advised Stripe on AML compliance in the Baltics.

Law Firm TESET

Law Firm TESET, which provides 'efficient and comprehensive support', is highly skilled in alternative financing technology such as peer-to-peer lending and crowdfunding platforms. Insurtech and AML are other areas of interest. Tomas Talutis leads the team and focuses on the aforementioned areas.

Practice head(s):

Tomas Talutis


‘The work process with this team is easy because, as you’re working with experts, there are no difficulties. You can feel safe working with this team because you are working with professionals and you can trust them.’

‘We are truly happy to partner with Teset, because of their experience in the fintech field, attitude, and since they are very well connected here in our part of the world.’

Key clients

Fjord Bank AB

Ooniq NoHappenz UAB

Finbro UAB

Pyrros Lithuania UAB

Ubitela UAB

8 Stars UAB

Synergy Finance UAB

Work highlights

  • Advised on a financing deal.
  • Advised Happenz, UAB on establishment and activity of the P2P insurance platform in Lithuania.
  • Advised Pyrros Lithuania, UAB on AML issues.