FinTech Companies in Latvia

Like other Baltic States, Latvia has a fast growing FinTech scene.
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Long standing strengths in Consumer Lending are being augmented by a fast expanding Crypto and Blockchain scene. With a steady flow of maths and IT talent plus a flourishing start-up scene more companies will emerge.
Here are some of the key movers and shakers. As Latvia is small many companies target larger markets but retain a back office or management link to Latvia:
4 FINANCE
One of Europe’s largest online and mobile consumer lending groups. Since 2008 have lent over EUR 3bn.
Lending
ALPHA FINANCE
Digital consumer finance and P2P lender active in Latvia, Georgia, Poland and Asia.
Crowd/P2P
ALPARI
Global FX broker with back office in Riga.
Capital Markets
ALTERO
Loan comparison tool for consumer credit and car leasing. Plans to expand to real estate segment and new countries.
Lending
BANKNOTE
Online consumer lender.
Lending
BILDERLINGS PAY
Payment solutions ranging from cards to e-invoicing.
Payments
BINO.LV
Online consumer lender.
Lending
BITFURY
Blockchain specialists supporting transaction processing, property rights registry, analytics and Platform-as-a-Service.
Blockchain
BLOCKVIS
Blockchain and Cryptocurrency advisory and programming
Crypto, Blockchain
COINFIDE
Payment specialists offering eWallets, invoicing and payment solutions for SME’s and a full service offer for Merchants.
Payments
CRASSULA
Agile infrastructure for creating payments solutions.
Payments
CREAM FINANCE
Digital consumer finance firm active across Europe.
Lending
CREDITINFO GROUP
Icelandic owned credit data and solution provider with sizeable ops in Latvia.
Credit Scoring
CREDIUM
Digital consumer finance firm active in Georgia.
Lending
C.T. Co
IT solutions and services provider with multiple FS sector projects.
Customised
DECTA
Payment processing and card issuing solutions for Banks, Corporates, P2P and other payment service providers.
Payments
DELTA CAPITAL
Online consumer lender operating under KREDITS7 amd KREDITS 365 brands.
Lending
DIGIPULSE
Digital wallet provider with Cryptocurrency capability.
Crypto
DUKASCOPY
Global FX, Banking and Investment
Capital Markets
ECOMCHARGE
Developer, supplier and system integrator for payment service providers and e-commerce.
Payments
ECOMMPAY
Payments specialist offering acquiring and settlement services for e-commerce, e-wallets, cards, mobile payments, etc. h
Payments
ESCROWN
Online Escrow service including secure funds deposit, payments and post settlement warranty.
Other
FACTSET
Global data and software provider fwith back office operation in Riga.
Data
FACTURY
Blockchain solution supporting secondary market trading of bank loans, smart invoice payment and settlement, etc.
Blockchain
FINABAY
Digital consumer finance firm active across Europe. Investor in Twino.
Lending
FINANCE FLOW
Financial management and prediction for businesses.
F&A
FINANZA
Online consumer lender.
Lending
FLEXIDEA
Start-up offering online invoice financing.
Lending
FOREX TEAM
Real-time FX trading and strategies for retail clients.
Capital Markets
FUNDERFUL
Online P2P fundraising for academic institutions. Acquired by Ruffalo Noel Levitz in Feb 2019.
EXIT
GLOBITEX
ICO funded exchange for trading of FX, Commodity and Cryptocurrency
Capital Markets, Crypto
GRANDMA
Online financial management solution offering alternative to Excel for management of corporate and project finances.
F&A
GRAND CREDIT
Online consumer lender.
Lending
GREEN CREDIT
Online consumer lender.
Lending
GRUPEER
Platform offering investments in P2P and real estate loans
Crowd/P2P
HIPOCREDIT
Online consumer lender.
Lending
IBANPAY
B2B and B2C e-wallet, e-payments processing and reconciliation solution provider.
Payments
INBUDGET
Personal financial management application including budget planning, spend analytics and social syncing.
Other
JEFF APP
Start-up offering P2P loan and other financial services matching services in Asia.
P2P
KLIX APP
Start-up offering payment solutions for e-commerce, retailers and consumers.
Payments
MEA WALLET
Subsidiary of Norwegian payments and wallets specialist.
Payments
MINTOS
P2P marketplace where investors can invest in personal and corporate loans, primary and secondary markets.
Crowd/P2P
MOBILLY
Mobile phone based payments.
Payments
MOGO
Digital car finance firm active in the Baltics and Georgia, with Poland and other markets planned.
Crowd/P2P
MONEA
Send or receive payments within minutes using phone book contacts.
Payments
MONETHA
E-commerce payment provider funded by ICO.
Payments
NOMO
Digital consumer good leasing provider offering flexible payment and ownership options.
Lending
NORDCARD
Credit and payment card provider.
Cards
NORDIC FINANCE
Online consumer lender operating under Atrais Kredits and Iespeju Kredits brands.
Lending
NORDIGEN
Help lenders accelerate client applications by automating back statement screening, data categorisation and analysis.
Credit Scpring
NOTAKEY
Data security solution that allows remote authorisation of sensitive operations such as log-in, approval and payments.
Other
ONDO
Online consumer lender.
Lending
OPEN CREDIT
Online consumer lender operating under Open Credit and Moneza brands.
Lending
PAYBIS
Cryptocurrency exchange business with offices in Latvia and UK.
Crypto
PAYDOO
Payment services provider
Payments
PAYMENT NINJA
Processes payments and helps merchants sell more by analysing client profiles using Big Data and re-marketing.
Payments
PEERBERRY
Marketplace offering investments in consumer loans with a buy-back guarantee. Part of Aventus Group active across CEE region.
Crowd/P2P
RIDDLE SENSE
Big Data analaytics to improve client analysis and predictions.
Credit Scoring
RIETUMU BANK
In addition to traditional banking, Rietumu also invest in FinTech’s and run the Rietumu Fintech Challenge.
Banking
ROBOCASH
Automated platform to invest in consumer loans in 8 countries in Europe and Asia
Crowd/P2P
SAPIENS
Israeli InsureTech specialist who purchase Knowledge Price.
Insurance
SOLUT
Digital bank specialising in SME lending, with applications turned around in under 5hrs.
Lending
STREAMPAY
IPSP offering payment solutions for e-commerce including card personalisation, acquiring and processing.
Cards
SWAPER
Marketplace offering investments in prefunded consumer loans originated by Wandoo Finance Group in Georgia, Poland, Spain, Denmark and Russia.
Lending
SWIPE
Corporate financial management including invoicing, recurring payments and customised payments.
F&A
TRANSACT PRO
Licensed provider of payment card issuing, acquiring and online payment acceptance tailored services.
Cards
TWINO
P2P marketplace where investors can invest in consumer loans. Buyback guarantee on delinquent loans.
Crowd/P2P
UX DESIGN AGENCY
Design agency delivering user experience solutions for online financial services.
Other
VIAINVEST
P2P marketplace active in Latvia, Czech and Spain. Loans originated by parent Via SMS Group with buyback guarantee.
Crowd/P2P
VIA SMS GROUP
Digital consumer finance firm active in Latvia, Lithuania, Czech, Poland, Spain and Sweden.
Lending
VIVENTOR
P2P marketplace offering investment in consumer loans and real estate mortgages with buyback guarantee.
Crowd/P2P
VIVUS.LV
Online consumer lender operating with Vivus and Kimbi brands.
Lending
WANDOO
Digital consumer finance firm active in Georgia.
Lending
VIZIA
Online consumer lender.
Lending
WESTSTEIN CARDS
Card solutions including corporate travel, pre-paid cards for the underbanked, etc.
Cards
X INFOTECH
Global provider and integrator of software for electronic identity documents and payment cards.
Identity
ZEN FINTECH
Analytics, market monitoring, auto investing and marketplace integration for investors and P2P operators.
Crowd/P2P
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Iconiqlab, Ioris, Lahdes, CryptoPolice.com, Alpha Visum
- notes -
List is updated on a periodic basis, last update 04.04.2020. List contains FinTechs which have Latvian operations, management or shareholders thus some may be active outside the country. This is a fast changing segment with high birth rate, failures and foreign investment, as such this list is indicative only.