The Bank of Lithuania issued the EMI licence to Payhawk

The Bank of Lithuania issued an electronic money institution (EMI) licence to the company Payhawk Financial Services, UAB (Payhawk LT). The company was represented by the Ellex Valiunas Banking and Finance practice.

Payhawk LT under the EMI licence will provide e-money services, including IBAN accounts, debit cards (physical and virtual), bank transfers (SEPA), spot FX, credit card products, as well as PIS and AIS to business customers. The EMI licence in Lithuania will allow the facilitation of financial services for Payhawk’s business line within the European Economic Area (EEA) creating synergies in the group-wide perspective.

The client was advised by partner Ieva Dosinaitė, associate partners Neringa Mickevičiūtė and Julija Šlekonytė, and senior associates Domantas Gudonis and Mindaugas Moskalionas.

Founded in 2018, Payhawk is a European expense management start-up from Bulgaria aiming to replace multiple business expense management services in the B2B payment stack with a single, unified platform.

Payhawk, proudly, is the first Unicorn with Bulgarian origins, headquartered in London, UK, with offices across Europe and in the USA. Moreover, Payhawk is a next-generation financial system that combines debit and credit cards, payments, expenses, cash management, and pre-accounting into one integrated experience to help companies stay in control.

The company emerges as one of the leading platforms for large SMEs and enterprise customers, especially those with a multinational footprint. It serves its business customers in 32 countries across various industries, currencies, and payment methods.

Payhawk received the EMI (Electronic Money Institution) licence, and it was only the second licence of its kind issued by the Bank of Lithuania in the current year.