Finora Bank
Finora Bank is a specialized ECB-licensed bank serving small and medium-sized enterprises in Lithuania and Estonia with business loans, leasing, factoring, and state-guaranteed financing, operating from Vilnius and Tallinn.
- Company typePrivate
- Founded2014
- HeadquartersVilnius, Lithuania
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Finora Bank does
Finora Bank is a specialized commercial bank serving small and medium-sized enterprises (SMEs) in Lithuania and Estonia under a European Central Bank banking license issued in April 2022. The bank operates from its Vilnius headquarters and a Tallinn branch (FINORA BANK UAB EESTI FILIAAL), offering business loans starting from €25,000, leasing with terms up to 10 years, factoring for invoices from €5,000, and state-guaranteed loans through partnerships with Lithuania's ILTE/Invega and Estonia's EIS covering up to 80% of loan amounts. The bank also provides internet banking with video-based remote onboarding, SEPA payment processing, and term deposits to support its funding base.
The company is a subsidiary of Estonian holding company AS Finora Group and is backed by approximately 30 Estonian entrepreneurs and private individuals, with Veikko Maripuu serving as the largest shareholder and Chairman of the Supervisory Board. Its go-to-market is sales-led, relying on dedicated relationship managers and business client managers in both countries who make local credit decisions, supplemented by self-service online application channels and a multi-language website (English, Estonian, Lithuanian, Russian). Revenue is generated through interest income on the loan, leasing, and factoring book, supplemented by loan origination fees (1.5-2% of loan amount), factoring and invoice acceptance fees, and banking service charges.
As of end-2025, Finora Bank served over 400 business clients with a net loan portfolio of €90.2 million (more than tripled year-over-year), cumulative lending exceeding €100 million since inception, and a team of 51-100 employees. Three equity funding rounds totaling approximately €9 million were closed between January 2024 and July 2025 to support balance sheet expansion. The bank has positioned itself as the fastest-growing bank in the Baltics in 2025, targeting sectors underserved by traditional banks including creative industries, agriculture, and collateral-constrained SMEs.
Finora Bank firmographics
Firmographics- Name
- Finora Bank
- Legal name
- Finora Bank UAB
- Website
- https://finorabank.eu
- Company type
- Private
- Founded year
- 2014
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Finora Bank is a specialized ECB-licensed bank serving small and medium-sized enterprises in Lithuania and Estonia with business loans, leasing, factoring, and state-guaranteed financing, operating from Vilnius and Tallinn.
- Ownership category
- akta.pro rank
Finora Bank industry classification
Industry- Product category
- SME Commercial Banking
- NAICS
- Savings Institutions and Other Depository Credit Intermediation (522180)
- SIC
- Functions Related To Depository Banking, Nec (6099)
- akta.pro primary industry
- Cross-Border FX, Multi-Currency & Treasury for Payments (FSAGABAK)
- akta.pro secondary industry
- Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)
Keywords
Where Finora Bank is headquartered
LocationHeadquarters
- HQ city
- Vilnius
- HQ country
- Lithuania
- HQ region
- Europe
Offices2 records
Markets served
Finora Bank business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain
Revenue model
- Interest Income: Interest earned on business loans, mortgages, and other credit facilities extended to SME clients
- Loan Origination Fees: Fees charged for loan contract origination (1.5-2% of loan amount, minimum 500 EUR)
- Factoring Fees: Fees for invoice factoring services including limit maintenance fees, financing fees, and invoice acceptance charges
- Leasing Income: Income from leasing arrangements for vehicles, equipment, and machinery with terms up to 10 years
- Banking Service Fees: Fees from payment services, account management, and transaction processing
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Business loans starting from €25,000 |
| Subscription | Monthly | Bank account services |
| Transaction based/ take rate | Monthly | Factoring services |
| Subscription | Monthly | Leasing for equipment and vehicles |
Go-to-market motion1 record
Distribution channels3 records
Marketing channels5 records
Finora Bank product offering
Product offeringCore offering
Finora Bank is a Vilnius-based, ECB-licensed specialized bank that funds small and medium-sized enterprises in Lithuania and Estonia through business loans (from €25,000), equipment and vehicle leasing (up to 10 years), invoice factoring, and ILTE/EIS-guaranteed loans with up to 80% guarantee coverage. Its offerings are complemented by an internet banking platform with SEPA payments, remote video-based onboarding, and digital signing, supported by local relationship managers and physical branches in Vilnius and Tallinn.
Product overview
Finora Bank is a specialized bank for small and medium-sized enterprises operating in Lithuania and Estonia under an ECB banking license. The product portfolio centers on business financing solutions: Business Loans for expansion and cash flow management, Leasing for vehicles and equipment acquisition, and Factoring for working capital optimization. The bank also offers ILTE/EIS guaranteed loans for creative sectors and SMEs lacking full collateral. A complementary internet banking platform provides daily account management, SEPA payments, and transaction monitoring. The bank serves over 400 businesses with financing exceeding €100 million, maintaining operations in Vilnius (Lithuania) and Tallinn (Estonia).
Differentiator
Problem solved
Functional benefit
Products and services
- Business Loan Financing solution for small and medium-sized enterprises starting from €25,000 with interest rate margins from 5%, used for business expansion, new projects, and cash flow management, with flexible solutions and clear pricing.
- Leasing Flexible leasing for cars, commercial vehicles, specialized machinery, and equipment for business growth, with terms up to 10 years, interest from 5% plus 6-month EURIBOR, and own contribution from 10%.
- Factoring Working-capital solution allowing businesses to receive financing against unpaid invoices without collateral, for invoices from €5,000 with payment terms up to 120 days and immediate payment of up to 90% of invoice value; available in Estonia.
- ILTE/EIS Guaranteed Loans Specialized financing for SMEs with limited collateral, backed by ILTE guarantees in Lithuania (up to 80% guarantee coverage) or EIS guarantees in Estonia (up to 80% on loans up to €250,000), with a dedicated product for the creative and cultural sectors.
- Daily Banking (Internet Bank) Comprehensive internet banking platform providing account management, SEPA and SEPA Instant payments, internal transfers between Finora accounts, real-time account and loan balance information, and document access for business customers.
- Term Deposits Deposit products offering time deposit accounts with guaranteed returns for private and business customers.
Quantifiable outcome
- Loan portfolio more than tripled to €90.2 million in 2025
- +3 more outcomes
Companies that use Finora Bank
Customer profileNamed customers2 records
Segments4 records
Ideal customer profiles4 records
Finora Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Finora Bank partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core and minor.
- Ilte (Invega)corePartnership with Lithuanian Investment and Business Guarantees (Invega/Ilte) providing portfolio guarantees covering up to 80% of loan amounts for Lithuanian SMEs, enabling financing for businesses with limited collateral.
- EIS (Ettevõtluse ja Innovatsiooni Sihtasutus)corePartnership with Estonian Entrepreneurship Investment Agency providing up to 80% guarantees for business loans up to €250,000, improving access to financing for Estonian SMEs.
- KredexminorEstonian export and credit insurance agency that partners with Finora Bank to support business financing.
- Small Loan ProvidersminorStrategic partnership with smaller business loan providers in Estonia to offer flexible capital to micro-enterprises, growing small businesses, and established mid-sized companies.
Scale indicators11 records
Recent moves7 records
Expansion highlights6 records
Finora Bank competitors and assessment
Company assessmentEmerging players
- Funding Circle: UK-headquartered online platform specializing in SME loans. Comparable in its focus on underserved SME borrowers and digital loan origination, though operating via marketplace model rather than balance sheet lending.
- Holvi: Digital-only business banking platform serving SMEs and freelancers in Europe. Comparable as a digital-first, SME-focused banking challenger, though operating primarily as a BaaS/integrated fintech rather than a licensed credit institution.
Regional players
- Citadele banka: Latvian-headquartered Baltic bank offering SME and retail banking across the Baltic region. Comparable in scale and customer focus, operating in the adjacent Baltic market.
Direct peers
- Bigbank: Estonia-headquartered bank specializing in consumer and SME loans across the Baltics. Direct competitor in the Baltic SME financing space with similar niche lending focus.
- Šiaulių bankas: Lithuanian-licensed commercial bank serving SMEs and retail customers. Direct competitor for Lithuanian SME financing market share with overlapping products.
- Coop Pank: Estonian commercial bank focused on everyday banking and SME lending. Comparable as a Baltic retail/business bank with similar customer profile and growth orientation, though operating only in Estonia.
- LHV Bank: Estonian-licensed bank with strong SME and business banking presence in the Baltics. Highly comparable as a Baltic-domiciled commercial bank serving similar SME segments, though significantly larger and listed.
- Inbank: Estonian licensed bank offering consumer loans, SME financing, and deposits in the Baltics. Comparable as a smaller Baltic bank with similar product mix and growth profile to Finora.
Broad incumbents
- SEB Bank Baltic operations: Major universal bank with dominant presence across all three Baltic states. Competitor for SME and corporate banking, though with vastly larger scale and broader product set.
- Swedbank Baltic operations: One of the largest banks in the Baltics, providing full-service SME and corporate banking. Sets the competitive floor on pricing and product breadth that Finora must differentiate against.
Market position
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Finora Bank social profiles
Digital presenceFinora Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
Finora Bank leadership team
Management profileNumber of profiles
Profiles14 records
Finora Bank funding detail
Funding detailFunding overview
Funding rounds3 records
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Finora 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 Finora Bank
What does Finora Bank do?
Finora Bank is a Vilnius-based, ECB-licensed specialized bank that funds small and medium-sized enterprises in Lithuania and Estonia through business loans (from €25,000), equipment and vehicle leasing (up to 10 years), invoice factoring, and ILTE/EIS-guaranteed loans with up to 80% guarantee coverage. Its offerings are complemented by an internet banking platform with SEPA payments, remote video-based onboarding, and digital signing, supported by local relationship managers and physical branches in Vilnius and Tallinn.
Is Finora Bank a public or private company?
Finora Bank is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Finora Bank founded?
Finora Bank was founded in 2014. It employs 51 to 100 people.
Where is Finora Bank based?
Finora Bank is headquartered in Vilnius, Lithuania, in the Europe region.
How does Finora Bank make money?
Five revenue lines are on record. Interest Income is the primary driver. The others are loan Origination Fees, factoring Fees, leasing Income and banking Service Fees.
Who are Finora Bank's main competitors?
Emerging players on record are Funding Circle and Holvi. Citadele banka is listed as a regional player. Direct peers are Bigbank, Šiaulių bankas, Coop Pank, LHV Bank and Inbank. Broad incumbents are SEB Bank Baltic operations and Swedbank Baltic operations.
Does Finora Bank have an API?
No public API is recorded for Finora Bank.
What industry is Finora Bank in?
Finora Bank's product category is SME Commercial Banking. Its primary akta.pro industry code is FSAGABAK, Cross-Border FX, Multi-Currency & Treasury for Payments, with a secondary code of FSAMAIAG, Multi-Currency Accounts, Wallets & IBAN Services. Its NAICS code is 522180 and its SIC code is 6099.