Torus, a fintech startup based in Vilnius, is making waves by securing 8th place in the “The Sifted 30” ranking, which evaluates the fastest-growing startups in Eastern Europe and the Baltics based on revenue growth. Founded in 2021, Torus offers a SaaS intelligence platform that helps banks improve the profitability of their card transactions. By enabling card issuers and acquirers to reduce fees associated with networks like Visa and Mastercard, Torus provides them with the opportunity to analyze their profitability in detail and optimize their product pricing.
The CEO of Torus, Kirill Lisitsyn, shares his enthusiasm by stating that the company significantly allows banks and fintechs to improve their card transaction-related profits. According to him, the global card payment industry lacks transparency when it comes to profitability calculation and fee analysis.
The Sifted ranking, supported by the Financial Times, highlights the booming startups in countries such as Lithuania, Estonia, and Latvia, reflecting the positive evolution of the startup scenes in these regions that are garnering increasing enthusiasm from entrepreneurs and global investors.
torus: leader among lithuanian fintechs according to sifted
Torus, a young startup based in Vilnius, has recently secured 8th place in the Sifted ranking of the fastest-growing companies in Eastern Europe and the Baltics. This ranking, supported by the Financial Times, represents a significant recognition for the startup as it establishes itself as a leader among Lithuanian fintechs in this category. Torus offers an innovative SaaS platform that enables banks to optimize the profitability of their card transactions by analyzing and reducing fees imposed by networks like Visa and Mastercard.
a mission to optimize the card payment sector
In a sector that often lacks transparency, Torus is committed to creating a bridge between financial institutions and their potential profits. Through detailed profitability analyses and product price optimization, Torus helps its clients achieve profitability in double or triple digits. CEO Kirill Lisitsyn expressed his satisfaction with the recognition by Sifted, highlighting their mission to address clarity issues in the card payment industry.
the flourishing context of fintech in lithuania
The Lithuanian fintech scene is rapidly evolving, demonstrated by a 48% growth in the number of employees in this sector in 2021 compared to the previous year. This rapid ascent is accompanied by a notable increase in investments and economic opportunities, placing Lithuania at the center of financial innovation in Europe. For a broader overview of the emerging growth dynamics in the region, check out the full article on Sifted.
