Ellex has advised Payhawk Financial Services on obtaining an electronic money institution license from The Bank of Lithuania.
Founded in 2018, Payhawk is a European expense management start-up from Bulgaria aiming to replace multiple business expense management services in the B2B payment stack with a single, unified platform. It is headquartered in London with offices across Europe and the USA.
According to Ellex, under the EMI license, Payhawk “will provide e-money services, including IBAN accounts, debit cards (physical and virtual), bank transfers (SEPA), spot FX, credit card products, as well as PIS and AIS to business customers. The EMI license in Lithuania will allow the facilitation of financial services for Payhawk’s business line within the European Economic Area creating synergies in the group-wide perspective."
The Ellex team included Partner Ieva Dosinaite, Associate Partners Neringa Mickeviciute and Julija Slekonyte, and Senior Associates Domantas Gudonis and Mindaugas Moskalionas.