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Stanhope Financial, a start-up in financial technology, opens its office in Vilnius. Its shareholders include the grandson of the founder of the German corporation Siemens, the founder of the Small World company and other renowned entrepreneurs.
The company, which offers instant payments, currency exchange and other banking services to small and medium-sized businesses, announced in November that it has raised 3.5 million euros for international development. Investment in USD.
Chose Lithuania
Today, the Bank of Lithuania granted the company an e-money institution license, which will allow it to serve clients not only in Lithuania, but also throughout the European Union. In the country, Stanhope Financial in 2021. plans to hire at least 17 people, and active recruiting will begin in January.
“In our opinion, advanced regulation, high positions in the Doing Business rating and excellent reputation in the financial technology field distinguish Lithuania from other European Union countries. We focus on the pan-European market, but the high The concentration of banks in Lithuania raises expectations that we will be able to attract more than one local customer with innovative products, ”explains Mohammad K. Talukder, CEO.
Laimonas Noreika, Director of the startup HeavyFinance, helps Stanhope Financial to come to Lithuania and establish its main office for the European Union market here. He will continue to serve as chairman of the board of the Lithuanian division of the company and will participate in solving strategic problems.
“The company was founded by entrepreneurs with exceptional skills and experience, so I am pleased that they are joining the Lithuanian fintech ecosystem. I think this company will enrich him enormously, ”says Laimonas Noreika.
When choosing Lithuania, the company also consulted with the foreign direct investment development agency “Invest in Lithuania”.
“Lithuania’s advanced regulatory environment for financial technologies and the successful integration of companies help attract new market players and contribute to its rapid growth. It is gratifying that startups such as Stanhope Financial choose Lithuania to further develop and seek to become an active member of the country’s Fintech community, ”says Mantas Katinas, CEO of Invest in Lithuania.
Stanhope Financial has a team of 10 employees in Dublin, Ireland, and an office will open soon in Dubai, United Arab Emirates. From there, the company will serve customers in the Asian and African markets.
The founding team is well known
Stanhope Financial was founded by four renowned entrepreneurs. The international company is led by Kevin von Neuschatz, founder and former CEO of the financial giant Small World Financial. This company has more than 15 million. clients in 90 countries.
The founders also include Peter K. Schulz von Siemens, the grandson of Werner von Siemens, the founder of Siemens, the largest industrial conglomerate in Europe. The entrepreneur has several decades of experience in the financial sector.
Together with them, the company was founded by Mohammad K Talukder and Thomas Dillon, the founder and CEO of German finance company Best Practice, who have experience with UBS, Citi and Deutsche Bank.
