Sorainen has helped Akce Holding Malta establish "European Merchant" in Lithuania and obtain a specialized bank license from the European Central Bank through the Bank of Lithuania for the company.
According to Sorainen, "European Merchant is among the first Lithuanian banking market participants to be granted a specialized bank license."
European Merchant is part of the Akce group, which operates in the FinTech industry and is made up of companies offering various payment services. According to Sorainen, "part of the Akce group are companies such as Clearsettle, a London-based white-label B2B payment platform provider, authorized by the UK’s Financial Conduct Authority (FCA) as a licensed payment institution, in 2015 and SettleGo, a cross-border payments and settlement platform, authorized by the FCA as an E-Money Institution."
The Sorainen team consisted of Partners Tomas Kontautas and Augustas Klezys, Senior Associate Dalia Augaite, and Associates Egle Mazetyte and Inga Macijauskaite.