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Stanhope Financial offers instant payments, currency exchange, and other banking services to small and medium-sized businesses. Matton Photo
Stanhope Financial, a start-up in financial technology, opens an office in Vilnius. Its shareholders include the grandson of the founder of the German corporation Siemens, the founder of Small World and other well-known 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. Today, the Bank of Lithuania announced an e-money institution license granted to the company, which allows it to serve not only local customers but also those throughout the EU of Lithuania. In the country, Stanhope Financial in 2021. plans to hire at least 17 people. Active recruiting, according to the company, will begin in January.
“In our opinion, advanced regulation, high positions in the Doing Business rating and excellent reputation in the financial technologies field distinguish Lithuania from other EU countries. We focus on the pan-European market, but the high concentration of banks in Lithuania allows us to hope that with innovative products we can attract more than one local customer ”, says Mohammad K. Talukder, CEO of the start-up.
Laimonas Noreika, Director of the startup HeavyFinance, helps Stanhope Financial to come to Lithuania and establish its main office for the EU market here. He is the Chairman of the Board of the Lithuanian division of the company and participates 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 L. Noreika.
“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 for further development and strive to become an active member of the country’s fintech community, ”adds Mantas Katinas, CEO of Invest in Lithuania. The company consulted extensively with the agency when choosing a location for the new office.
Stanhope Financial has a team of 10 employees in Dublin, Ireland, with an office in Dubai, United Arab Emirates, to be opened soon. From there, the company will serve customers in the Asian and African markets.
Solid team
Stanhope Financial was founded by four renowned entrepreneurs. The international company is led by Kevin von Neuschatz, founder and former CEO of the finance company Small World Financial. This company now has more than 15 million. customers in 90 states.
The second of the founders is Peter K. Schulz von Siemens, grandson of Werner von Siemens, founder of the largest European industrial conglomerate, Siemens. The 64-year-old businessman has decades of experience in the financial sector.
The third member of the core team is Mohammad K. Talukder, who has worked for UBS, Citi and Deutsche Bank, and the fourth is Thomas Dillon, founder and CEO of German finance company Best Practice.
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