Active EMI license in Lithuania for sale

Country of company incorporation: Lithuania

Type of the license: Electronic Money Institution (EMI)

Permissions available within the EMI license:
• Execution of payment transactions, including transfers of funds on a payment account with the payment service provider of the payment service user or with another payment service provider: execution of direct debits, including one-off direct debits, execution of payment transactions through a payment card or a similar device and/or execution of credit transfers, including standing orders
• Issuing of payment instruments and/or acquiring of payment;
• Issuing of electronic money
• Distribution and redemption of electronic money
• Provision of currency exchange services

Year of company incorporation: 2017

Year of authorisation from the Bank of Lithuania: 2017

Passportation: EEA and UK

Capital:

• Authorized capital € 1.300.000
• Capital reserves € 3.681.000
• Current regulatory capital € 553.000

Directors/Staff: the company has CEO and board of three members (Malta, Jersey and Lithuania). Lithuanian board member acts as CFO, CEO has a solo management right, supervisory function of the company is granted to the Board.

Financial reports: the last financial report of 2022 was audited and approved by the Board.

Bank accounts: The company has 2 accounts with other EMIs and a safeguarding bank account.

Other partners:

• UK institution that is providing local and international outgoing bank transfers and the FX in 27 currencies
• UK institution that is providing acquiring services in EUR/ GBP/ USD/ PLN/ CHF for Visa and MC
• UK institution that is providing dedicated IBANs and pooled collection account with the company name
• UK institution that is sponsoring BIN and issuing prepaid MC cards
• UK institution that is printing plastic prepaid cards

SWIFT: The company is connected to SWIFT via its banking provider

Shareholders: the company directly belongs to one private individual (citizen of the EU)

Company activity: The company has 16.500 active retail clients and 30 business clients

IT Platform: Company has 2 products for retail and corporate sectors. Both products are developed and supported by external partner. The retail product consists of mobile app (Android and iOS) frontend and cloud-based backend. The corporate product is a web application hosted in the cloud. Cloud provider is Microsoft Azure. The IT infrastructure (including cloud) is managed by external team. The back-office software is developed in-house by the company and is used for internal and external reporting – to operations, senior management, board, regulator, tax authority and partners.

AML tools: AML solution is provided by Estonian company, and it is integrated into the platform. The company also has integrated card scanning solution to make sure that the cards to be used for loading are not stolen

AML and Legal documents: the company has necessary Terms and Conditions, AML policies, procedures, matrixes, as well as other policies and procedures required by law.

Information security and data protection: the company has external Data Protection and Information Security officers.

Plans for 2023:

• The company is building White label platform. The first White label agreement is signed. ETA is set of September 2023
• The company is aiming to move its retail platform to new infrastructure until the end of 2023