European Merchant Bank
European Merchant Bank (EMBank) is an ECB-licensed, Vilnius-based business bank founded in 2018, serving Lithuanian SMEs with lending, payments, and trade finance while providing API-driven Banking-as-a-Service, safeguarding, and embedded finance solutions to fintechs and payment institutions globally.
- Company typePrivate
- Founded2018
- HeadquartersVilnius, Lithuania
- Headcount51–100
- GTM typeB2B
- OfferingServices
What European Merchant Bank does
European Merchant Bank (EMBank) is a Vilnius-headquartered, ECB-licensed (License No. 3) business bank founded in 2018 by Dr. Ozan Ozerk. It operates as a private limited company (UAB) employing 51–100 staff, serving two distinct segments: Lithuanian small and medium-sized enterprises — across agriculture, manufacturing, real estate, and transportation — and a global base of fintechs, neobanks, payment institutions, and electronic money institutions. EMBank reports total assets of EUR 214.7 million and loan portfolio growth of 21% in 2025.
The bank's product surface is structured around two pillars. For SMEs, it offers business accounts (Business, Accumulative, Escrow), term deposits with promotional pricing, international and local payments across SEPA, TARGET2, and SWIFT, a full lending stack (working capital loans, credit lines, overdrafts, investment loans, leasing up to EUR 2M, agricultural financing), letters of guarantee, and EBRD/ILTE-backed SME support programs. For fintechs, EMBank provides an API-driven Banking-as-a-Service (BaaS) platform with PSD2-compliant Open Banking endpoints (AISP/PISP), segregated and safeguarding accounts, embedded finance, and a digital investment bond issuance service via Axiology on permissioned XRP Ledger infrastructure.
Revenue mechanics combine interest income from lending (working capital starting at 5.0% + 6M EURIBOR), transaction and FX fees on payments, subscription-style fees on BaaS API access, and professional-services revenue from bond issuance and guarantee structuring. Distribution is dual-track: domestic Lithuanian SMEs are served via relationship managers and digital self-serve (EMBank Online web and iOS/Android apps), while fintech clients are acquired globally through an API-first, partnership-led motion supported by membership in nine Lithuanian and bilateral chambers of commerce, the Lithuanian Banking Association, and the Lithuanian Fintech Association. Key strategic partners include the EBRD (Trade Facilitation Programme), ILTE (guarantees), Axiology (DLT bonds), Amlyze (AML/CFT regtech), Moody's (risk analytics), and Oracle (core tech infrastructure).
European Merchant Bank firmographics
Firmographics- Name
- European Merchant Bank
- Legal name
- European Merchant Bank UAB
- Website
- https://em.bank
- Company type
- Private
- Founded year
- 2018
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- European Merchant Bank (EMBank) is an ECB-licensed, Vilnius-based business bank founded in 2018, serving Lithuanian SMEs with lending, payments, and trade finance while providing API-driven Banking-as-a-Service, safeguarding, and embedded finance solutions to fintechs and payment institutions globally.
- Ownership category
- akta.pro rank
European Merchant Bank industry classification
Industry- Product category
- Business Banking
- NAICS
- Commercial Banking (52211)
- SIC
- State Commercial Banks (6022)
- akta.pro industry
- SME Deposits & Business Accounts (Operating, Savings, CDs)Financial & Insurance/Banking (Commerical, Retail & Consumer)/Commercial Banking (SME & Middle Market)SME Cash Management & Payments (Merchant, ACH/Wires, Payroll)Financial & Insurance/Banking (Commerical, Retail & Consumer)/Commercial Banking (SME & Middle Market)Merchant Acquiring & Processing PlatformsBusiness & Public Services/Web, Mobile & Digital Platforms/Payments, Wallets & Digital Banking PlatformsMerchant Acquiring & Card Processing (PSPs)Merchant Cross-Border Collections (Pay-ins) & Local Payment Methods
Keywords
Where European Merchant Bank is headquartered
LocationHeadquarters
- HQ city
- Vilnius
- HQ country
- Lithuania
- HQ region
- Europe
Offices2 records
Markets served
European Merchant Bank business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales, Others
Revenue model
- Business Banking Services: EMBank generates revenue through account maintenance fees, payment transaction fees, and interest income from lending products. Business accounts offer 12 months free maintenance and payments as promotional onboarding.
- Lending Products: Revenue from interest income on working capital loans, credit lines, overdrafts, investment loans, and leasing arrangements. Interest rates typically start at 5.0% plus 6-month EURIBOR for working capital products.
- Banking-as-a-Service API Fees: Revenue from API access fees charged to fintechs, neobanks, and businesses consuming embedded banking services through the BaaS platform.
- Digital Bond Issuance Services: Revenue from structuring and facilitating SME bond issuances through the Axiology partnership, offering alternative financing options to traditional lending.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Business Account - Standard |
| One time/ perpetual license | Pay-as-you-go | Term Deposit Accounts |
| Subscription | Monthly | Working Capital Loan |
| Usage-based | Pay-as-you-go | Overdraft Facility |
| Unit Pricing | Monthly | Leasing |
| Usage-based | Pay-as-you-go | Credit Line |
| Transaction based/ take rate | Pay-as-you-go | Letters of Guarantee |
Go-to-market motion3 records
Distribution channels5 records
Marketing channels5 records
European Merchant Bank product offering
Product offeringCore offering
European Merchant Bank is an ECB-licensed business bank offering Banking-as-a-Service (BaaS) and embedded finance APIs to fintechs globally, alongside traditional commercial banking products to Lithuanian SMEs. Its product set spans business and segregated accounts, safeguarding accounts for PIs/EMIs, local and international payments via SWIFT/SEPA/TARGET2, working capital loans, credit lines, overdrafts, investment loans, leasing, letters of guarantee, term deposits, and digital investment bonds. Distribution combines direct relationship management in Lithuania with a single API integration model for fintech partners worldwide.
Product overview
European Merchant Bank (EMBank) is an ECB-licensed business bank headquartered in Vilnius, Lithuania, offering a comprehensive suite of digital banking products and services. The core offering consists of a Banking-as-a-Service (BaaS) platform enabling API-driven embedded finance, complemented by a full range of traditional banking services including business accounts (Business, Accumulative, Safeguarding, Segregated), payment services (International via SWIFT/TARGET2/SEPA, Local), lending products (Working Capital Loans, Credit Lines, Overdraft, Investment Loans, Leasing, Agricultural Financing), trade financing (Letters of Guarantee), and savings solutions (Term Deposits, Investment Bonds). The bank serves SMEs in Lithuania and fintechs globally, with digital banking access provided through EMBank Online (Internet and Mobile). EMBank also provides an Open Banking/Embedded Finance API for developer integration.
Differentiator
Problem solved
Functional benefit
Products and services
- Banking-as-a-Service (BaaS) An end-to-end API-driven solution that allows businesses to consume EMBank's banking and payment services seamlessly through a single API integration, enabling fintechs to provide banking services to their end customers.
- Embedded Finance EMBank's embedded financial services allow businesses to connect via API and consume all banking and payment services seamlessly, enabling brands to integrate financial services into their platforms.
- Business Account A current account service combined with savings account advantages, offering fast account opening, free maintenance for 12 months, and 1.5% annual interest on balances above EUR 10,000.
- Accumulative Account An account used for the formation of a legal entity's share capital during incorporation, allowing instant deployment of authorized capital without conducting everyday transactions.
- Safeguarding Account A special segregated account for Payment Institutions (PIs) and Electronic Money Institutions (EMIs) to hold customer funds separately from operational funds, meeting regulatory obligations.
- Segregated Account Accounts tailored for Payment Service Providers (PSPs) and other financial institutions to always identify which funds belong to which clients.
- International Payments Cross-border payment services via SWIFT, TARGET2, and SEPA networks, offering fee-free international transfers for 12 months.
- Local Payments Local payment services accessible via web portal or direct integration to EMBank's banking platform through SWIFT, TARGET2, and SEPA.
- Working Capital Loan Short-term loan solution for immediate working capital needs with loan amounts up to EUR 2 million, terms up to 36 months, and interest rates starting at 5.0% + 6-month EURIBOR.
- Credit Line Pre-approved borrowing limit for financing working capital, allowing disbursement in tranches with interest paid only on used amounts, financing from EUR 50,000 to EUR 2,000,000.
- Overdraft Short-term financing facility covering business expenses when insufficient funds are available, with access up to EUR 500,000 for 12 months at competitive rates.
- Investment Loan Long-term financing for business development projects such as property acquisition, construction, and equipment purchase, with loan amounts from EUR 50,000 to EUR 2,000,000 and terms up to 7 years.
- Leasing Financing solution for equipment, vehicles, and machinery with lease amounts up to EUR 2 million, terms up to 120 months, and starting from 10% down payment.
- Letter of Guarantee Bank's formal pledge to pay a beneficiary if the applicant fails to meet contractual obligations, available in tender, performance, advance payment, warranty, financial, and customs guarantee types.
- Agricultural Financing Specialized financing solutions for agricultural businesses including working capital loans, investment financing, and leasing for equipment and machinery.
- Term Deposit Account Fixed-term savings account with terms from 1 to 60 months, minimum deposit of EUR 10,000, and interest rates ranging from 2.00% to 2.25% annually.
- Investment Bonds Digital investment bonds for SMEs powered by Axiology's DLT infrastructure, enabling businesses to issue EUR-denominated bonds with up to 40% lower issuance costs through a fully digital process.
- EMBank Online (Internet and Mobile Banking) Digital banking platform offering EMBank Internet (web banking) and EMBank Mobile (iOS/Android app) with 24/7 access to accounts, payments, biometric authentication, and multilingual support.
- EMBank API (Open Banking and Embedded Finance APIs) Open Banking and Embedded Finance APIs providing AISP functionality for account information services and PSD2-compliant payment initiation and account access.
Quantifiable outcome
- Loan portfolio grew by 21% in 2025, with total assets reaching EUR 214.7 million
- +2 more outcomes
Companies that use European Merchant Bank
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles2 records
European Merchant Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration6 records
Feature4 records
European Merchant Bank partnerships and signals
Strategic signalPartnerships
21 partnerships are on record, tiered strategic, core and minor.
- Moody'sstrategicEMBank extended collaboration with Moody's to reinforce advanced risk management capabilities and accelerate sustainable SME financing. Moody's analytics and risk assessment tools enhance EMBank's credit decisioning and portfolio management.
- AmlyzecoreEuropean Merchant Bank partnered with Lithuanian regtech company Amlyze to enhance its AML/CFT compliance framework. The implementation covers Transaction Monitoring, Customer Risk Assessment, AML Investigations, Customer Screening, and Payment Screening to support EMBank's growing SME and fintech client base. This partnership marked AMLYZE's first client in Lithuania, representing a significant milestone as the company expands its footprint in the regulated banking sector.
- European Bank for Reconstruction and Development (EBRD)coreEMBank became a partner of the EBRD Trade Facilitation Programme, acting as a confirming bank to facilitate safer international trade finance transactions. This partnership enhances EMBank's position in Lithuania and abroad, supporting Lithuanian exporters and importers in international trade with countries where the EBRD operates.
- AxiologystrategicEuropean Merchant Bank partnered with Axiology to offer digital investment bonds for SMEs through a DLT-powered infrastructure built on permissioned XRP Ledger. This partnership enables businesses to issue bonds with greater transparency, lower costs, and reduced operational complexity compared to traditional capital market routes.
- ILTE (Investicijų ir Verslo Tiltas)coreEMBank partnered with Lithuania's national promotional institution ILTE to offer Individual Guarantee Program support. ILTE guarantees allow EMBank to extend financing to companies when available collateral is insufficient, covering up to 80% of loan amounts for eligible SMEs.
- Lithuanian Fintech Association (FintechHub)strategicEMBank is a member of the Lithuanian Fintech Association, participating in the fintech ecosystem and industry advocacy.
- Lithuanian Banking AssociationstrategicEMBank is a member of the Lithuanian Banking Association, participating in industry standards development and regulatory engagement.
- SEPA (Single Euro Payments Area)coreEMBank is a SEPA member with transactions processed via the Bank of Lithuania, enabling euro payments throughout the European Union.
- SWIFTcoreEMBank is a SWIFT member, enabling secure international financial transactions and connectivity to the global banking network. Swift BIC: EUEBLT22.
- TARGET2coreEMBank is a TARGET2 member, providing real-time gross settlement (RTGS) system access for euro payments via the Eurosystem.
- VisaminorEMBank offers international business payments via Visa B2B Connect, a distributed ledger-based bank-to-bank network for secure cross-border transfers.
- MastercardminorEMBank partnership with Mastercard enables card payment capabilities for business banking services.
- Lithuanian Business ConfederationminorEMBank is a member of the Lithuanian Business Confederation, participating in business advocacy and networking.
- American Chamber of Commerce in LithuaniaminorEMBank is a member of AmCham Lithuania, supporting international business connections.
- Norwegian-Lithuanian Chamber of Commerce (NLCC)minorEMBank is a member of NLCC, supporting trade and business connections between Norway and Lithuania.
- Swedish Chamber of Commerce in LithuaniaminorEMBank is a member of the Swedish Chamber of Commerce in Lithuania, supporting Scandinavian business connections.
- Turkish-Lithuanian Chamber of CommerceminorEMBank is a member of TLCC, supporting business connections between Turkey and Lithuania.
- Vilnius Chamber of CommerceminorEMBank is a member of VPPAR (Vilnius Chamber of Commerce, Industry and Crafts).
- Klaipeda Chamber of Commerce, Industry and CraftsminorEMBank is a member of KPPAR, supporting business development in the Klaipeda region.
- Kaunas Chamber of Commerce, Industry and CraftsminorEMBank is a member of the Kaunas Chamber of Commerce, Industry and Crafts.
- Lithuanian Confederation of IndustrialistsminorEMBank is a member of LPK (Lithuanian Confederation of Industrialists), participating in industrial policy advocacy.
Scale indicators6 records
Recent moves6 records
Expansion highlights6 records
European Merchant Bank competitors and assessment
Company assessmentDirect peers
- Luminor Bank: Baltic-focused universal bank serving SMEs, corporates, and fintechs across Estonia, Latvia, and Lithuania. Comparable as a regional Baltic bank competing for the same Lithuanian SME and payment institution clients.
- Modulr: UK-based payments-as-a-service and embedded banking platform serving fintechs, corporates, and platforms with accounts, payments, and PSD2 APIs. Overlaps EMBank's BaaS, payment initiation, and safeguarding capabilities.
- Treezor: France-based BaaS provider (now owned by Société Générale) offering payment account issuance, card issuance, and SEPA payment services to fintechs via APIs. Highly comparable as a regulated EU BaaS serving payment institutions and fintechs with embedded banking.
- Swan: France-based BaaS platform providing embedded banking accounts, cards, and payments APIs for European fintechs and software platforms. Directly competes for the same pan-European fintech BaaS mandates EMBank targets.
- ClearBank: UK-regulated clearing and embedded banking bank serving fintechs, EMI/PI clients, and corporates with API-driven accounts, payments, and safeguarding. Closely matches EMBank's safeguarding, payment, and BaaS proposition.
- Solaris SE: Germany-based Banking-as-a-Service platform licensed by BaFin and ECB. Offers embedded banking, payments, lending, and safeguarding APIs to fintechs and digital platforms across Europe — directly overlapping EMBank's BaaS/embedded finance product set and target customer.
- LHV Bank: Estonian-headquartered bank offering SME banking, fintech banking, and payment services from a Baltic base. Closely comparable to EMBank in geography, SME focus, and fintech-facing banking services.
Broad incumbents
- UniCredit: Large pan-European universal bank that operates a BaaS/embedded finance offering for fintechs and corporates. Represents the broad-incumbent competitive threat, with deeper capital and brand reach than EMBank.
- Stripe (via banking partners): Global payments and embedded finance platform that works with sponsor banks to offer Stripe Treasury and Stripe Issuing. Represents the demand side of the BaaS market and a potential partner/competitor for fintech-facing banks like EMBank.
Others
- Bank of Lithuania: Lithuanian central bank and regulator responsible for supervising EMBank's national operations and processing SEPA/TARGET2 transactions. Relevant as EMBank's regulator, infrastructure provider, and key ecosystem relationship in Lithuania.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
European Merchant Bank social profiles
Digital presenceEuropean Merchant Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
European Merchant Bank leadership team
Management profileNumber of profiles
Profiles13 records
European Merchant Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
European Merchant Bank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about European Merchant Bank
What does European Merchant Bank do?
European Merchant Bank is an ECB-licensed business bank offering Banking-as-a-Service (BaaS) and embedded finance APIs to fintechs globally, alongside traditional commercial banking products to Lithuanian SMEs. Its product set spans business and segregated accounts, safeguarding accounts for PIs/EMIs, local and international payments via SWIFT/SEPA/TARGET2, working capital loans, credit lines, overdrafts, investment loans, leasing, letters of guarantee, term deposits, and digital investment bonds. Distribution combines direct relationship management in Lithuania with a single API integration model for fintech partners worldwide.
Is European Merchant Bank a public or private company?
European Merchant Bank is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was European Merchant Bank founded?
European Merchant Bank was founded in 2018. It employs 51 to 100 people.
Where is European Merchant Bank based?
European Merchant Bank is headquartered in Vilnius, Lithuania, in the Europe region.
How does European Merchant Bank make money?
Four revenue lines are on record. Business Banking Services are the primary driver. The others are lending Products, banking-as-a-Service API Fees and digital Bond Issuance Services.
Who are European Merchant Bank's main competitors?
Direct peers on record are Luminor Bank, Modulr, Treezor, Swan, ClearBank, Solaris SE and LHV Bank. Broad incumbents are UniCredit and Stripe (via banking partners). Bank of Lithuania is listed as an others.
Does European Merchant Bank have an API?
Yes. EMBank offers Open Banking and Embedded Finance APIs including AISP (Account Information Service Provider) API specifications for accessing account information. The bank also provides PSD2 API Developer Portal for payment initiation and account information services. The platform enables account opening, payment initiation, and account information service options via API integration. Developer documentation is at openbanking.em.bank.
What industry is European Merchant Bank in?
European Merchant Bank's product category is Business Banking. Its primary akta.pro industry code is FSABABAC, SME Deposits & Business Accounts (Operating, Savings, CDs), with a secondary code of FSABABAD, SME Cash Management & Payments (Merchant, ACH/Wires, Payroll). Its NAICS code is 52211 and its SIC code is 6022.