New fintech company enters Romanian market

Paysera, a fintech company founded in 2004 in Lithuania, opened its office in Bucharest a few months ago and launched the Romanian version of the application and the web page this week, Wall-street.ro reported.

Paysera offers its customers, both natural and legal persons, a mobile banking and Internet banking application competing with other services such as UK fintech Revolut. The registration process is 100% online, and individuals are required to enter a series of personal data, an identity card photo, and a selfie. Companies that want access to Paysera’s solutions need to upload several documents, such as the registration certificate, the updated constitutive act, and the certificate from the Trade Registry’s Office.

Apart from Romania, the company is present in countries like Lithuania, Latvia, Estonia, Poland, the United Kingdom, and Bulgaria.

Paysera is a “healthy” company, which, unlike other players in the FinTech industry, generates profits and does not rely on venture capital funds, according to Paysera CEO Vytenis Morkunas. “Last year, we recorded transactions worth about EUR 4 billion, which brought us a EUR 9 million income. The profit was around EUR 1.9 million,” Morkunas said.

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