Baltic, Financial Services

International Internet Magazine. Baltic States news & analytics Saturday, 24.08.2019, 14:46

Lithuania's payment co Paysera launches operations in Estonia

BC, Vilnius, 11.02.2019.Print version
Lithuanian-owned payment services company Paysera is starting operations in Estonia after opening a customer service center in Tallinn, with plans to launch a sales unit in the spring, reported LETA/BNS.

Paysera CEO Vytenis Morkunas says the company is now present in all three Baltic countries. 

"Expansion abroad is one of our main strategic goals. We fully operate in Latvia, and the step into the Estonian market completes the establishment of our presence in the Baltic region," Morkunas said in a press release on Monday.  

"A great stimulus has also been given by the successful adoption of our expansion model in Bulgaria, where we have been present for two years and continue to grow," he added. 

Paysera plans to invest up to 700,000 euros in the Estonian unit, which is headed by Anna Nicols, within three years.  

Paysera LT's shareholders include Kostas Noreika with a 47.5% stake, Sarunas Broga with 31.35%, Audrius Luciunas with 16.15% and Rolandas Razma with 5%. 

Customers from over 180 countries currently use Paysera's services. The company services more than 350,000 private customers. 

The company's revenue in Lithuania surged by 46.5% in 2017 from 2016 to reach 7.642 mln euros. Its net profit, however, dropped to 558,500 euros in 2017, from 1.108 mln euros a year earlier.  

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