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15 Nov 2023

Lithuania Triumphs as Fintech Hub with Rise in Startup Companies

Lithuania's favorable regulation, competitive broadband access costs, and high cybersecurity ranking have fueled the growth of its financial tech sector. The country witnessed a four-fold increase in fintech financing in 2022, achieving €67.9 million. An ambitious plan, including transforming a Soviet-era factory into a top European tech hub, now takes center stage. From merely 82 fintech firms in 2016, this figure has tripled in the past six years. [Source](https://english.elpais.com/economy-and-business/2023-11-08/fintech-finds-its-promised-land-in-lithuania.html?utm_medium=Social&utm_campaign=echobox&utm_source=Twitter&ssm=TW_CM_EN#Echobox=1699501670)