MAY 2024MARTECHOUTLOOK.COM9strong in fintech. Findexable ranked Lithuania as the 10th country in the world for fintech. At the moment, we host over 230 such companies, and the numbers continue to increase because Lithuania is one of the first countries in the world to use IMF's and World Bank's guiding principles for fintech regulation, and we also have a huge talent pool of IT specialists. That's also why we have successful fintech such as TransferGo, SME Finance, Ondato, or our portfolio company Paysolut, which was acquired by one of the largest fintech start-ups in the USA, SumUp. Meanwhile, in the e-commerce and software sectors, we have our largest start-ups, such as our unicorn Vinted, Tesonet, with over 1500 employees, or vastly growing businesses, such as digital marketing analytics and reporting startup Whatagraph, or video ad tech company Billo.A major breakthrough can also be seen in AI. One-third of our portfolio startups are developing different AI technologies: Pixevia is creating AmazonGo-like grocery stores, Eddy Travels ­ AI assistant for travel, meanwhile, Perfection.AI is trying to revolutionize the game and animation developer industry.Over 50 Advanced Startups in LithuaniaThe era of unicorns will undoubtedly continue. I am convinced that the coming years will also be favourable for advanced start-ups and new unicorns, and records will definitely be broken across Europe, including Lithuania. The country currently has more than 1,000 start-ups, and this number has doubled within the past three years.We can consider more than 50 start-ups in Lithuania as advanced, and those companies have real opportunities to become unicorns. We already have a very successful unicorn, Vinted, which is valued at $4.5 bn and might be close to exiting, and a few other start-ups such as Trafi or TransferGo might be getting closer to unicorn status. We also have smaller companies that are growing very fast: Interactio, Ziticity, Billo, Whatagraph, CGTrader, Eneba and more. There is certainly no shortage of potential success stories in our region, and there will be more in the future. Trust me, unicorns are here to stay, and soon you're going to see the name of Lithuania a lot more often. I am convinced that the coming years will also be favourable for advanced start-ups and new unicorns, and records will definitely be broken across Europe, including Lithuania
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