Sifted published “The Sifted 30”: Eastern Europe and the Baltics, which ranks the region’s fastest-growing startups in terms of revenue growth. Lithuanian fintech startup Torus achieved 8th place, becoming the leader among Lithuanian fintech startups in this category.
“We’re excited to see that Torus is truly enabling banks and fintechs to optimize how they manage Visa and Mastercard fees and achieve double- and even triple-digit profitability improvements. We believe that the entire global card payments industry lacks transparency when it comes to calculating profitability and analyzing system fees. And Torus is on a mission to solve this problem. Many thanks to Sifted for introducing us, and we’ll keep moving forward! “, shares his thoughts, Torus CEO Kirill Lisitsyn.
Launched in 2021, Vilnius-based Torus offers a SaaS intelligence platform to help banks improve the profitability of their card transactions. It allows card issuers and acquiring merchants to pay lower fees to card networks like Visa and Mastercard by better analyzing their billing data and earn more per transaction by performing granular profitability analysis and optimizing pricing products.
Sifted is the leading media brand for the European startup community, backed by the Financial Times. The ranking in question is part of the Sifted Leaderboards, a series of regional rankings compiled annually that recognize the fastest growing startups in Europe, focusing on Eastern Europe and the Baltics, particularly Ukraine, Estonia, Latvia, Lithuania, Belarus, Moldova, Armenia, Georgia, Albania, Bosnia and Herzegovina, Bulgaria, Croatia, Kosovo, Montenegro, North Macedonia, Romania and Serbia.
“The region’s startup scenes are gradually changing for the better, attracting growing interest from budding entrepreneurs and global venture capital firms,” say the organizers in their research report.