Lithuanian startup myTU raises €5M in a seed round

The Vilnius-based mobile banking platform myTU has raised €5 million in a seed funding round. A group of angel investors who have built businesses in banking, IT, travel, and pharma led the round, Startup Lithuania reports.

• Founded in 2019 by Raman Korneu and Tomas Navickas, myTU is a digital banking platform. It offers payment and loyalty solutions for private consumers and business clients with focus on travel and hospitality industry.
• So far, myTU has a fully functioning product with over 1,000 downloads daily across EEA (29 countries), and its number of active customers is constantly growing.

“We are now at a stage when we need to move forward without a hitch. Therefore, in the near future we will announce the start of a new round of financing, which we need, among other things, to go ahead with our plans to grow business in EEA, obtain a full-fledged banking license, and expand into the US market,”

Raman Korneu, co-founder and CEO at myTU, talks about the startup.

• The current funding will further support myTU’s go-to-market strategy, as well as facilitate the product development.