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Lithuanian fintech company ArcaPayknown for its cross-border B2B payment solutions, is acquired by Eburya UK-based financial services provider owned by Banco Santander. ArcaPay has expanded into the Baltics and Finland, serving more than 1,500 SMEs with foreign exchange risk management and international transactions. The acquisition will integrate ArcaPay into Ebury’s global network, expanding its service offerings and market reach. Pending regulatory approval, the deal reflects growing competition in the region’s fintech sector, where alternative financial service providers are challenging established banks.
Headquartered in Vilnius, Lithuania, ArcaPay specializes in cross-border payment solutions, currency conversion and risk management services for small and medium-sized enterprises (SMEs) operating internationally. As of 2021, the company has served more than 1,500 business customers in the Baltics and Finland.
“We are delighted to bring Ebury, a global leader in B2B cross-border payments, to the Baltic and Finnish markets. In a region where incumbent commercial banks dominate, Ebury will offer a reliable and efficient alternative to businesses of all sizes, from SMEs to large corporations. We are committed to empowering our customers engaged in international trade to thrive and succeed in the global economy,” says Marius Bausysfounder of ArcaPay.
In 2023, ArcaPay experienced growth of 78%, generating a turnover of €1.35 million. According to unaudited data, the company recorded revenue growth of 33% in 2024 while operating profitably.
Ebury, based in the United Kingdom, is a global financial services company that helps businesses trade internationally. It offers a comprehensive range of products, including international payments and collections, business lending and risk management. Founded in 2009, Ebury is a fast-growing global fintech company, with over 1,700 employees and over 40 offices across 29 markets. In the 2024 financial year, Ebury increased its global turnover to over £221 million.
“So far, we have managed to grow independently, although our product portfolio was limited. As part of Ebury, we will be able to offer a wider range of services to our clients, from fundraising and broader foreign exchange risk management to international trade finance solutions. We are enhancing our capabilities with the newly acquired resources, enabling us to meet a broader range of customer needs while strengthening our competitive position in key markets,” says Virginijus KausasCEO of ArcaPay.
According to Virginijus Kaušas, the support of a globally recognized name will build trust – an essential factor in the financial sector – and help expand the customer base. At the same time, Ebury acquires established local representatives, strengthening its international presence.
The signed acquisition agreement is only the first step and detailed expansion plans will be developed in the coming months.
“Once we receive approval from the Bank of Lithuania, we will be able to announce more detailed plans regarding the team’s growth and development strategy. Even though the transaction marks a completely new phase in our company’s operations, our core mission remains unchanged: to provide businesses in the Baltic region with reliable, innovative and competitive financial solutions,” says Marius Bausys.
TGS Baltic lawyers, who represented ArcaPay in the transaction, have advised the company since its inception. They contributed to the processes from obtaining the license to attracting investors and helped throughout the transaction and negotiation process.
“This transaction is important not only for ArcaPay but also for the entire financial services market. Ebury is an active player in the market with a number of strategic acquisitions and development projects under the control of its main shareholder, Banco Santander. The entry of such a strong name into the Baltic region, even indirectly, constitutes a significant endorsement of the client’s well-established business and reflects confidence in the market potential. This is a positive development for the industry. said Zygimantas StankevičiusPartner at TGS Baltic.
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