Fintech in Lithuania


Ellex's fintech team 'knows the landscape very well.', as is evidenced by its expertise in data security, licensing, product development and regulatory issues. The team is jointly led by the 'professional' Ieva Dosinaite and Giedrius Stasevicius. Dosinaite is advising Lithuanian Post on various payment services regulatory matters, as well as activities related to an electronic money institution licence.


‘They know the landscape very well, including the expectations of the supervisory authorities. They have several people working on topics.’

‘Closest cooperation has been with Ieva Dosinaite, Paulius Gruodis, Giedrius Stasevičius and Gyte Maleckaite. All are very professional, both from knowledge point of view and attitude towards solving the problems. They are always open to help and respond, when needed. Despite the fact that we mostly cooperate from a distance.’


Key clients

Visa Inc. and Visa International Service Association

The National Bank of Ukraine and European Bank for Reconstruction and Development

Marubeni Corporation

Lithuanian post

Earthport Payment Services

Work highlights

  • Advised the global payment cards giant Visa on the indirect acquisition of 100% of shares of Earthport Payment Services, a payment institution licensed in Lithuania.
  • Assisted the National Bank of Ukraine (NBU) and European Bank for Reconstruction and Development (EBRD) with the implementation of reform of payment infrastructure in Ukraine.
  • Advised Marubeni Corporation on a strategic equity investment in a blockchain-based green energy company – WePower – which recently raised $40 million from an ICO.


Sorainen's fintech practice advises clients on anti-money laundering, licensing, blockchain and the development of e-money and payment institutions. The team is co-led by Tomas Kontautas and  Augustas Klezys. Kontautas advised Google Payment Lithuania on obtaining an e-money institution licence from the Bank of Lithuania. Klezys has assisted a number of fintech clients with licensing their activities in the EU, and continues to provide them with ongoing support.

Practice head(s):

Tomas Kontautas; Augustas Klezys


‘The people are friendly and the team are very generous.’

‘Sorainen law firm has a team of strong professionals who are interested in the client’s affairs, not only with respect to the submitted assignment, but also with other matters. Particularly helpful for me as an in-house lawyer are the business meetings organised at least once per quarter. During such meetings, Sorainen professionals provided clients with news of regulatory and judicial or other competent authorities’ practice in a particular business-critical area, such as competition law, advertising, etc. Compared to those at other law firms, Sorainen lawyers I worked with tend to take an extra step of getting to know their client and the specifics of the client’s business instead of just doing the job they are assigned.’

‘The team is providing and ongoing support and exceeded our expectations. The quick response and straightforward solutions 24/7 are appreciated.’

‘It was our pleasure to work with this firm, the process of document reviews and obtaining guidance was smooth and quick, they were always willing to take the time to discuss our concerns and respond to all questions.’

‘In fintech area I worked with two representatives of Sorainen: Urtė Armonaitė and Augustas Klezys. Both should be commended not only for their professionalism, but also for engagement and interest in our company and its business particularities. Especially important for us is that both lawyers are using our company’s product, which on the one hand enables them to give valuable advice not only from legal, but also from user’s/consumers point of view, on the other hand we do not need to explain our issues or business specifics from scratch.’

‘After researching the market and face to face negotiation the Sorainen was chosen as the best team to support our need.’

Key clients


Neo Finance


Verse payments

Best Finance

Work highlights

  • Assisted Verse Payments Lithuania with obtaining an electronic money institution licence.
  • Advising NEO Finance on a public share offer and entry into the alternative securities market.
  • Advised MoQ – the first mobile payment platform in the Baltics – on the structuring and provision of its payments services, customer identification and other regulatory matters.


WALLESS's practice comprises of 'professionals' who have 'years of experience working in the fintech sector.' The firm acts for both traditional and specialised banks. Joana Baublyte-Kulviete and Gediminas Reciunas jointly lead the team, which advises on consumer credit matters, compliance and crowdfunding. Baublyte-Kulviete and Reciunas are advising Blender on compliance-related work, including data protection and anti-money laundering.


‘The team consists of a group of professionals, who love their job, and combine many years of experience working in the fintech sector.’


Key clients



Shift Financial Services

General Financing

Work highlights

  • Assisting General Financing with obtaining a specialised bank licence.
  • Assisting, a software solution for peer to peer card to card instant money transfers, with regulatory matters.

ADON Legal

ADON Legal 's practice, which is 'unique in the market', was established in January 2019. It handles the licensing of financial institutions, regulatory advice and the introduction of new financial products and services. The 'professional, solution orientated' Donatas  Šliora is advising Protean Risk on regulatory compliance issues associated with the first PSD2-compliant insurance product for electronic money institutions and authorised payment institutions. The 'detail orientated' Tadas Matusevičius, who joined the firm in February 2019, is also recommended.

Practice head(s):

Donatas Šliora


‘We chose ADON Legal as it clearly had a more business-minded approach and went into details.’

‘The team is relatively small but a very capable one.’

‘We used the services of ADON Legal in structuring our service package for payment and electronic money institutions. The team work was very well- managed.’

‘ADON Legal has demonstrated competence in payments regulations matters and shown a high degree of flexibility to adapt to specific needs of a client.’

‘Compared to others, the team of ADON Legal is more approachable, has great understanding of businesses in the financial sector and provides strategic advice. We are always confident with the advice we receive from them.’

‘I think this team is unique in the market as they focus on financial sector companies and provide tailored solutions.’

‘Personalised service and fast responses. Strong knowledge of fintech and regulations.’

‘I’ve been using the legal services of Donatas Šliora from ADON Legal for several years now and I can say only positive things about cooperating with him. The level of personal attention, extra effort and knowledge of the fintech aspects in Lithuanian market are outstanding. Even in case of ad hoc questions or requests, the reaction time is always very quick, so this positive experience makes it the first choice for most legal tasks.’

‘Donatas Šliora is very reliable. He assisted us with revising the payment rules of our clients and partners to avoid regulatory implications, he also worked on our financing needs and relationship with banks. We are very happy with his assistance and will use his services in the future.’

‘We are very pleased with the work of partner Donatas Sliora. He is professional, fast, solution-oriented and constructive. We can always rely on him when we have a regulatory headache.’

‘Tadas Matusevicius and Donatas Sliora were very detail-oriented and give effective advice.’

Key clients

Fusionnovate Digital Ventures Pte

EstateGuru OU

Protean Risk Ltd

B2B trade payment solutions AB


Work highlights

  • Assisting IBS Lithuania with extending the scope of the electronic money institution licence (introduction of new services and service provision models), as well as compliance of the activities (and internal documentation) of the company with requirements under PSD2.
  • Assisted UK-licensed payment institution Arcapay with connecting to CENTROlink system.
  • Assisted EstateGuru OU with an analysis of modifications to the structure of security arrangements for projects funded through a crowdfunding platform.


Cobalt's fintech team acts for clients on licence applications, cryptocurrency regulatory matters and ICO's. Akvilė Bosaitė advised Wallter on obtaining an electronic money institution licence for non-limited activity, which has enabled the client to issue and accept payment instruments. Senior associate Justina  Milašauskienė, who is 'very professional', handles the provision of day-to-day fintech regulatory advice and assists clients with obtaining electronic money institution licences.


‘Cobalt’s team is always attentive to our needs and is knowledgeable about the industry. It is always educated about market trends, new regulations, etc. Turn around time is relatively quick. Very professional and experienced.’

‘Justina Milašauskienė is amazing! Very professional, knows the legal lines and also has a business understanding. She is attentive and available when needed. Quick to respond and turn around is amazing’

Key clients





Work highlights

  • Advised KEVIN EU on obtaining a payment institution licence for non-limited activity. The licence has enabled the company to carry out money remittances.
  • Advised ValorPay on obtaining a payment institution licence.
  • Advised Wallter, UAB in obtaining an electronic money institution licence for non-limited activity.

ECOVIS ProventusLaw

ECOVIS ProventusLaw's fintech practice offers expertise in matters such as the licensing of specialised banks, electronic money institutions and permits for crowdfunding platforms, among other mandates. The team also has experience of assisting with incorporating and registering financial institutions. Group head Inga Karulaitytė-Kvainauskienė  is experienced in advising local and international companies on gaining financial services licenses. She is supported by associate Karina Zenkevičiūtė, who also has expertise in EMI licensing work.

Other key lawyers:

Karina Zenkevičiūtė

Key clients

deVere Group

Senjo group PTE Ltd

UAB “Instarem Europe”

AB Mano bankas

Work highlights

  • Advising SEPAexpress FS, which is seeking to introduce the instant SEPA DirectDebit and CreditTransfer directly via CENTROLINK.
  • Providing ongoing general assistance to fintech company Instarem PTE.
  • Consulting Australian public listed company Novatti Group on obtaining European electronic money institution licence.

TGS Baltic

TGS Baltic fields 'strong partners' who act on regulatory matters relating to e-money, payment services and crowdfunding platforms. Vilius Bernatonis, Žygimantas Stankevičius and Mindaugas Civilka jointly lead the team. Managing partner Bernatonis is advising Erial OU on obtaining an electronic money licence in Lithuania and related regulatory matters.  


‘Vilius Bernatonis has extremely strong insights into business-driven decisions that are not only based on lawyers’ perceptions of the situation, and he can therefore offer unique angles for solving extremely complicated cases. Agnius Pilipavičius is extremely easy to work with, as he has great work and time management skills, as well as flexibility in managing all the affairs of the client. Based on long experience of working with him, I would say he is the best expert in corporate law in Lithuania.’

‘Very strong work ethics, great dedication to understanding what is needed for the client and what exactly would be the most efficient solution for the client itself. Great and highly skilled teams of corporate, energy and civil law. Strong partners, who deeply know their clients.’

Key clients

Lietuvos paštas


TBF Finance


IBS Lithuania

Work highlights

  • Advised EstateGuru on being listed as a crowdfunding operator in Lithuania.
  • Assisted TBF Finance with obtaining a payment institution licence.
  • Advised AB IBS Lithuania on a number of regulatory matters.