The Bank of Lithuania has supplemented the electronic money institution (EMI) license for the fintech company Ltd TransferGo Lithuania. This enhancement enables the company to not only continue providing money transfer and payment account services but also to soon offer TransferGo cards to EU residents for everyday financial transactions.

According to Daumantas Dvilinskas, co-founder and CEO of TransferGo, the expanded license reflects the evolving expectations of customers, and the company’s long term strategy 

“Over the past decade, our clients’ needs and how they use financial services have fundamentally changed. This expanded licence will allow us to offer a broader range of services and ensure even smoother everyday operations. This is a strategic step in our growth, reaffirming the core mission of TransferGo: to increase financial inclusion and ensure that both private and business customers benefit from financial technologies in their daily lives," said Dvilinskas. 

One of the leading global fintech companies, TransferGo welcomed its 9 millionth registered user last year and has been rapidly expanding its services for business customers.