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International Internet Magazine. Baltic States news & analytics Thursday, 21.10.2021, 20:39

Finland's fintech Saldo Finance expanding in Lithuania

BC, Vilnius, 19.11.2020.Print version
Finland' financial technology company Saldo Finance is set to double its product development team in Vilnius over the next year, with plans to hire more financial and technology professionals at a later stage, Invest Lithuania said on November 19th, cites LETA.

"Lithuania’s tech talent, business-friendly environment and forward-thinking regulation is why we chose to double, at minimum, the number of our developers here," the foreign investment promotion agency quoted Saldo Finance CEO Jarkko Maensivu as saying in a press release.

Saldo expects to start lending operations in Lithuania next January.

"In Lithuania, Saldo will offer consumer loans first and then move to testing SME loans in the local business environment," the agency said.  

Founded in 2006, the company has developed a fully automated lending system. It has over 500,000 customers and posted 54 million euros in annual revenue last year. 

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