Posts Tagged ‘Emerging Nordic Ventures’

Latvia’s fintech industry is entering a new phase of maturity, driven by solid growth metrics, deeper collaboration with regulators, and a more diversified ecosystem. With 126 fintech companies now active across the country, the sector has evolved from a fast-growing niche to a strategic contributor to the national economy.

The latest figures show an impressive rise in both profitability and fiscal impact. In 2024, Latvian fintechs generated over €370 million in turnover and nearly €100 million in net profit—more than double the previous year’s profit. This performance was accompanied by strong contributions to public finances, with over €91 million paid in taxes. Employment across the sector has grown as well, now surpassing 3,600 professionals, many of whom are in high-skilled roles.

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Originally published on 25 Jan