Tesonet invests €5 million in Finbee Group
Following approval from the Lithuanian Competition Council, Tesonet has completed a €5 million investment in the Finbee group (UAB Holbee). The investment is intended to strengthen the group’s capital base and expand financing volumes for consumers and small businesses in Lithuania and international markets.
The transaction represents a significant vote of confidence in Finbee’s long-term strategy and growth trajectory. The partnership is expected to accelerate the company’s expansion into new markets, enhance customer experience solutions for both borrowers and investors, and support broader marketing initiatives.
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Originally published on 5 Mar
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A team of experts with over 15 years of experience in funding businesses has launched Aneli Capital, a fund to support early-stage startups in the Baltics, Poland, and other Central and Eastern European (CEE) countries. The €35 million fund will primarily focus on Information and Communication Technology (ICT) as well as robotics, space, photonics, and energy startups, with the goal of helping them grow and become ready for follow-on investors.
While CEE startups are gradually becoming more visible in the international startup scene, they still face issues such as a lack of funding and difficulties in scaling compared to their Western counterparts.
Aneli Capital plans to help solve these challenges by offering efficient, quick decision-making and founder-friendly terms in addition to capital.
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Originally published on 10 Dec
Latvian airline airBaltic has announced frequency increases on more than 30 existing routes across the Baltics for the Summer 2026 season. The airline will increase frequencies on 20 routes from Riga (Latvia), four from Tallinn (Estonia) and seven from Vilnius (Lithuania). This expansion will offer passengers more convenient travel choices and improved connectivity.
Mantas Vrubliauskas, VP Network Management at airBaltic: “Our summer 2026 expansion reflects a clear focus on our customers and their travel needs. By increasing frequencies on popular business and leisure routes, we are offering better connectivity, and greater flexibility to travellers, while continuing to strengthen Latvia’s and the Baltic States’ connectivity with Europe and beyond.”
For the upcoming summer season, airBaltic will launch ten new routes from the Baltic capitals. From Riga, flights will operate to Antalya (Turkey), Gothenburg (Sweden), Kaunas (Lithuania), Oulu (Finland), and Warsaw (Poland). From Tallinn, the airline will launch flights to Athens (Greece), Hamburg (Germany), and Vienna (Austria), while from Vilnius, new flights will connect to Chisinau (Moldova) and Zurich (Switzerland).
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Originally published on 17 Dec
Lietuvos bankas has granted an authorisation of a crypto-asset service provider to Nuvei Liquidity, UAB for the provision of custody and administration of crypto-assets, transfer services for crypto-assets, exchange of crypto-assets for funds and other crypto-assets.
The company has also obtained the payment institution licence, authorising it to perform operations with electronic money tokens (EMT).
Nuvei Liquidity, UAB, which has operated in Lithuania since 2004, is part of the Nuvei Group, one of Canada’s largest providers of financial technology services, operating in more than 20 jurisdictions.
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Originally published on 17 Dec
Lietuvos bankas has granted an authorisation of a crypto-asset service provider to UAB Decentralized for the provision of custody and administration of crypto-assets, transfer services for crypto-assets, exchange of crypto-assets for funds and other crypto-assets.
The company has also obtained the payment institution licence, authorising it to perform operations with electronic money tokens (EMT).
UAB Decentralized operating under the CoinGate brand, is one of the oldest virtual currency exchange operators in Lithuania (founded in 2014) with more than 50 employees.
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Originally published on 17 Dec
The Turku–Stockholm Green Shipping Corridor is one of the few routes where ambitious goals have already translated into concrete action. This is highlighted in the newly published Annual Progress Report on Green Shipping Corridors 2025, which tracks the global development of green maritime transport corridors.
In February 2024, the Ports of Turku and Stockholm together with Viking Line signed a cooperation agreement to develop a green maritime corridor between the two cities. The aim is to achieve a fully fossil-free and carbon‑neutral corridor by 2035, making it one of the Green Shipping Corridors defined under the Clydebank Declaration. The route was chosen as a pilot due to its high traffic volumes and its location in an environmentally sensitive archipelago. The cooperation provides a platform for solutions that can progressively reduce emissions and promote sustainable maritime transport.
Of the 84 global initiatives identified in the report, only four have so far reached the so‑called implementation stage, in which emission‑reducing measures are deployed in regular operations. Two of these are located in the Baltic Sea region, including the Turku–Stockholm route, which is regarded as one of the most advanced internationally.
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Originally published on 16 Dec
Since 2018, Tallinn Airport has reduced carbon emissions from its operations by 96%. An audit carried out under the Airport Carbon Accreditation (ACA) global carbon management certification programme has confirmed that the airport achieved carbon neutrality based on the actions adopted in 2024 (certified in 2025). To receive certification, the company was required to reduce its emissions by at least 90%, for us the remaining 4% – related to de-icing activities and employee business travel – permitted to be offset.
This substantial reduction in emissions represents a significant achievement, reflecting the effectiveness of the actions and commitment demonstrated by the company, its employees, and partners.
According to Anneli Turkin, Member of the Management Board of Tallinn Airport, Tallinn has for years served as a role model for other airports across Europe, particularly through its determination and tangible actions, which have now resulted in the achievement of carbon neutrality. “Since 2018, we have systematically collected data, calculated and reduced our carbon footprint, and involved our partners in the process. Everyone’s contribution has been invaluable, and the change in our employees’ behaviour has had a major impact – the CO₂e emissions per employee at Tallinn Airport have decreased from 38 tonnes to just 1.3 tonnes,” said Turkin, adding that he is extremely proud of the entire airport team.
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Originally published on 11 Dec
Proton, a Swiss privacy-focused technology company, is expanding its software engineering operations in Lithuania as part of its broader global development strategy. The Vilnius office, established in 2019, currently employs around 20 specialists and acts as a regional R&D hub integrated into Proton’s global product teams.
Proton was founded in 2014 by a team of scientists who met at CERN. Guided by the belief that privacy is a fundamental human right, the company has grown into a global provider of secure, open-source services with more than 100 million accounts across 180+ countries. Its products include Proton Mail, Proton VPN, Proton Drive, Proton Calendar, Proton Pass, Proton Authenticator, and Proton Wallet. The company’s users range from privacy-conscious individuals to journalists, activists, NGOs in high-risk environments and privacy-first businesses.
Proton selected Vilnius for expansion due to its high-quality engineering talent, strong university programmes in computer science and cybersecurity, and a mature technology ecosystem. According to Beatriz Dominguez, VP People at Proton, Lithuania also offers favourable conditions for privacy-first innovation, supported by government incentives and strong connectivity to European data infrastructure.
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Originally published on 16 Dec
The EIB loan will support Nokia’s research and development in radio access networks, covering both hardware and software. These technologies are key to boosting the performance, energy efficiency and cybersecurity of mobile systems. They also lay the groundwork for integrating artificial intelligence in future 6G networks. The project helps retain high-skilled jobs and critical intellectual property within Europe.
“Nokia’s innovations in 5G and 6G are key to Europe’s digital future,” said EIB Vice-President Karl Nehammer. “By supporting this R&D programme, we are helping to secure strategic autonomy in next-generation network technologies and strengthen Europe’s competitiveness in a critical sector.”
Headquartered in Espoo, Nokia is a global leader in fixed, mobile and cloud network technologies, with operations in more than 130 countries and over 78,000 employees. The company invested €4.5 billion in R&D in 2024, representing 23% of its annual revenue.
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Originally published on 16 Dec
There are 127 financial technology companies operating in Latvia, employing more than 3,600 people, generating a turnover close to 400 million euros, and paying over 91 million euros in taxes annually. These facts were highlighted today at the Fintech Breakfast “What is needed to realize Latvia’s FinTech ambitions?”, held at RTU Riga Business School (RBS) and organized by the Fintech Latvia Association and the RBS Baltic Financial Center. During the event, participants were introduced to the latest industry data, development dynamics, and its impact on the national economy, as well as key directions and practical steps for strengthening the sector going forward.
Latvian Fintech Observatory — a foundation for data-driven policymaking
To set the stage for further discussion, Kristīne Dambe, Director of the RBS Baltic Financial Center, presented the newly developed pilot tool — the “Latvian Fintech Observatory”, a comprehensive database of Latvian fintech companies. The tool is designed to provide policymakers, university students, lecturers, and other stakeholders with an independent, data-driven view of sector development. “The industry must take collective responsibility for its own progress. We can shape our own narrative and learn from our neighbors, but it is crucial to base decisions on data that reflect real trends and can serve as input for strategy. We hope the observatory will encourage discussions grounded in facts rather than assumptions and inspire the next generation of fintech creators,” emphasized Dambe.
Policymakers: fintech — export potential and global competitiveness
Minister of Economics Viktors Valainis highlighted the importance of export capacity: “We all want Latvian-founded companies not only to strengthen the local economy but also to become export-capable technology firms. In fintech, we have several strong players proving that we can be competitive internationally. Therefore it is important to create an environment that encourages companies to choose Latvia as a place to grow and develop both regionally and globally, and to actively promote Latvia internationally by engaging potential investors and partners. The industry has great potential, and we have planned a series of initiatives on our side to continue supporting it.”
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Originally published on 12 Dec
Large pipes, which will be used in a construction project, have arrived at Frihamnen Port in central Stockholm, from Finland. Taking them by water relieves both road and rail networks, while also being more cost-effective.
Frihamnen’s central location offers customers excellent conditions for this type of logistics solution and is an attractive alternative for transport to and from the Stockholm region.
By using waterways and transporting the goods as close to the final destination as possible, both the road and rail networks are relieved, while the environmental impact is reduced. It is also more cost-effective.
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Originally published on 10 Dec
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