The Bank of Lithuania has officially supplemented the electronic money institution (EMI) licence for fintech company TransferGo.
This regulatory enhancement enables the firm to continue providing its core money transfer and payment account services, while also paving the way for new consumer product offerings. In the near future, the company plans to introduce TransferGo payment cards to residents across the European Union to facilitate everyday financial transactions.
Adapting to changing consumer needs
Daumantas Dvilinskas, co-founder and CEO of TransferGo, noted that the expanded licence directly reflects the evolving expectations of the firm’s customer base and aligns closely with its long-term strategic vision.
“Over the past decade, our clients’ needs and how they use financial services have fundamentally changed,” Dvilinskas explained. “This expanded licence will allow us to offer a broader range of services and ensure even smoother everyday operations.”
He added: “This is a strategic step in our growth, reaffirming the core mission of TransferGo: to increase financial inclusion and ensure that both private and business customers benefit from financial technologies in their daily lives.”
Sustained global growth
The licence expansion follows a period of sustained momentum for the cross-border payments company. Last year, TransferGo reached a significant milestone by welcoming its 9 millionth registered user. Concurrently, the firm has been rapidly expanding its suite of services tailored specifically for business customers.
Founded in Lithuania over 13 years ago, the global fintech now operates across 160 countries worldwide. It currently employs a workforce of more than 400 people, maintaining its main offices in London and Vilnius.
