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Started as a small project for friends in the UK in 2011 with the aim to offer more efficient cross-border payments to immigrants from Eastern E...
The Bank of Lithuania has granted permission for the reorganisation of the ArcaPay Group by creating a holding company structure.
The Bank of Lithuania (LB) has granted permission for the reorganisation of the ArcaPay Group, a company providing currency conversion and international payment services to businesses, by creating a holding company structure, which will include ArcaPay UAB, operating in Lithuania, and ArcaPay Ltd, working in the United Kingdom.
"ArcaPay was launched in London in 2011. Following Brexit, the Bank of Lithuania granted a Payment Institution Licence in April 2021. The company currently provides services to over 800 importing and exporting business customers. Most of them are companies from Lithuania and the United Kingdom. The company expects to double its client portfolio by 2022. The company expects to close negotiations with investors in its first round of financing this year.