Lithuanian startup CTO2B secures €1M in a pre-seed round

CTO2B, a Vilnius-based startup offering a SaaS platform for automated DevOps on cloud infrastructure, has announced the closure of a €1 million funding round. Practica Capital led the funding, with participation from FIRSTPICK and several business angels.

• Founded in 2019 by Andrius Bagdonavičius and Aleksej Trofimov, CTO2B empowers clients specializing in SEPA payments, identification, core banking, and other fintech services. Its platform operates on a customer’s chosen cloud provider, automatically handling infrastructure setup, and ongoing maintenance.
• According to the startup´s team, it delivers a well-architected framework, ensuring optimal security and compliance out of the box.

We saw a need to break free from the cycle of solving the same infrastructure problems for every new company. CTO2B was born from the desire to share our expertise and streamline DevOps for businesses on any cloud platform,

Andrius Bagdonavičius, co-founder of CTO2B, said.

• The Vilnius-based VC fund Practica Capital led the current round through its Fund III. In February this year, Practica Capital announced the final closure of its third and largest fund at an €80 million hard cap. The fund is focused on pan-Baltic early-stage startups.
• The Lithuanian high-speed venture capital firm FiRSTPICK and several business angels also participated in the financing.

This pre-seed funding round will fuel CTO2B’s platform development and market expansion. The company is poised to empower businesses to unlock the full potential of cloud technology with automated DevOps solutions.