Satchel

Digital Banking & Payment Solutionssatchelpay.com

Company typePrivate
Founded2017
HeadquartersVilnius, Lithuania
Headcount11–50
GTM typeB2B and B2C
OfferingServices

Satchel firmographics

Firmographics

Name: Satchel
Legal name: Satchelpay UAB
Website: https://satchelpay.com
Company type: Private
Founded year: 2017
Operating status: Operating
Headcount range: 11–50 employees
Ownership category
akta.pro rank

Satchel industry classification

Industry

Product category: Digital Banking & Payment Solutions
NAICS: Credit Card Issuing (522210), Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)
SIC: Finance Services (6199)
akta.pro primary industry: Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA)
akta.pro secondary industries: Card Issuing & Virtual Cards (lodge cards, single-use, tokenization) (THALAHAB), Travel Money Cards & Multi-Currency Prepaid (FSAMANAI), Alternative Payments & Digital Wallet Acceptance (A2A, RTP, wallets) (THALAHAH)

Keywords

Digital banking
Multi-currency accounts
Payment processing
Electronic money institution
Banking-as-a-service

Where Satchel is headquartered

Location

Headquarters

HQ city: Vilnius
HQ country: Lithuania
HQ region: Europe

Offices1 record

Markets served

Satchel business model

Business model

GTM type: B2B and B2C
Offering type: Services
Cost components: Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

Multi-Currency Account Services: Revenue from multi-currency business and personal accounts, likely including account maintenance fees and transaction fees for currency conversions and international transfers.
Payment Processing: Fees charged for payment processing through the API, CENTROlink gateway, and card acquiring services.
Currency Exchange: Revenue from currency exchange services with transparent pricing, avoiding hidden fees as a selling point.
Banking as a Service (BaaS): White-label and embedded banking infrastructure services for institutional clients requiring customized payment and financial infrastructure without license requirements.

Pricing tiers

Model	Billing	Price
Subscription	Monthly	Business Account - Multi-currency business banking

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Satchel product offering

Product offering

Core offering

Satchel operates as a licensed Electronic Money Institution providing digital banking and payment solutions. It offers multi-currency business and personal accounts, payment cards, merchant services, and freelancer accounts, alongside Banking-as-a-Service (BaaS), white-label card issuance, and APIs for payment processing, card acquiring, and CENTROlink payment gateway integration.

Product overview

Satchel is a digital banking and payment solutions company offering a comprehensive platform of financial services. The portfolio consists of core account products (Business, Personal, Freelancer, Merchant, and Multi-Currency accounts) supported by add-on services including Unique IBAN, Payment Cards, Currency Exchange, and SEPA Instant Transfers. The platform also includes BaaS, SaaS, Payment Infrastructure, and API offerings for institutional clients and partners who want to white-label or integrate Satchel's financial capabilities. The architecture is modular, allowing individual services to be used standalone or combined through the API and BaaS platform.

Differentiator

Problem solved

Functional benefit

Products and services

Business Account Digital business account for companies to manage finances, pay employees, and receive payments from a single platform.
Multi-Currency Business Account Unique multi-currency SWIFT accounts enabling international banking for businesses with access to global and local payments in over 20 currencies.
Personal Account Online banking and personal finance management account for day-to-day simple and secure money management.
Multi-Currency Personal Account Personal multi-currency account offering access to international transactions in over 20 currencies for day-to-day money management.
Merchant Account International payment acceptance solution for online businesses including retail, e-commerce, and online marketplaces.
Freelancer Account Account designed for entrepreneurs and freelancers to receive payments quickly from international clients.
Payment Cards Mastercard-powered payment cards for secure online shopping, daily payments, and business transactions.
White Label Cards White-label card solution powered by Mastercard enabling partners to issue branded payment cards under their own brand.
Currency Exchange Currency exchange service enabling conversion between 20+ major world currencies with transparent pricing and no hidden fees.
Banking as a Service (BaaS) Banking-as-a-Service platform offering business and personal accounts, customized payment cards, transparent reporting, and full compliance for partners without their own banking license.
API Extensive API providing payment gateway access to CENTROlink, card issuance, card acquiring, and payment processing capabilities for seamless data integration.
Software as a Service (SaaS) SaaS solutions for digital banking and payment infrastructure for partners and institutional clients.
Payment Infrastructure Payment infrastructure solutions for institutional clients and partners requiring customized payment capabilities.

Companies that use Satchel

Customer profile

Segments5 records

Ideal customer profiles5 records

Satchel technology and API

Technology

Technology focussed Yes

API detail

Has API: Yes
API docs
API detail

Core technology

AI maturity

App detail

Integration4 records

Feature6 records

Satchel partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

Mastercard EuropecoreTechnology or IntegrationSatchel is a principal member of Mastercard Europe for card issuing. The partnership enables Satchel to issue Mastercard-branded payment cards including white-label solutions for business clients.

Scale indicators3 records

Recent moves6 records

Expansion highlights5 records

Satchel competitors and assessment

Company assessment

Direct peers

Currencycloud: Cross-border payments and FX-as-a-service platform acquired by Visa, providing multi-currency wallets and payment APIs. Comparable to Satchel on the BaaS/infrastructure side rather than the consumer SMB side.
Payoneer: Cross-border payments platform offering multi-currency accounts and receiving accounts to freelancers, marketplaces, and SMBs. Highly comparable to Satchel's freelancer and merchant account proposition with a heavier SMB and marketplace focus.
Revolut: Multi-currency digital bank serving consumers and SMBs with accounts, cards, FX, and BaaS (Revolut Business / Revolut Platform). Targets the same freelancer and SMB segments as Satchel across European markets, with a much broader product set.
Paysera: Lithuania-headquartered electronic money institution offering multi-currency accounts, payment processing, and merchant acquiring across Europe. Closest geographic and product peer to Satchel, sharing the same EMI license regime and targeting SMBs and individuals.
Wise: Global multi-currency account provider with cross-border transfers and card issuing, serving freelancers, SMBs, and consumers. Directly comparable to Satchel on multi-currency IBANs, FX pricing, and customer segments, but at materially larger scale.

Broad incumbents

Banking Circle: European payments bank providing multi-currency accounts, payment processing, and banking-as-a-service to financial institutions and corporates. Comparable to Satchel on cross-border and BaaS, but operating as a much larger, broader incumbent.
NIUM: Global cross-border payments and card issuing infrastructure provider for fintechs, banks, and corporates. Comparable to Satchel on multi-currency accounts and card issuing APIs, though more globally scaled and B2B-leaning.
Solaris SE: Berlin-based banking-as-a-service platform with proprietary banking license, offering accounts, cards, lending, and payments APIs. Comparable to Satchel on BaaS and API distribution, with a deeper product set and larger institutional footprint.

Emerging players

Swan: European BaaS provider offering embedded accounts, card issuing, and payment infrastructure APIs via regulated partners. Comparable to Satchel's API and BaaS platform proposition targeting SaaS and fintech integrators.

Regional players

Wallter: Estonian EMI offering multi-currency accounts and payment cards for individuals and businesses in the Baltic region. Comparable in product mix and EMI license regime, though smaller in geographic footprint.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights5 records

Customer concentration

Satchel compliance and trust

Trust signal

Compliance2 records

Satchel financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Satchel leadership team

Management profile

Number of profiles

Satchel funding detail

Funding detail

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Satchel M&A and investment

M&A and investment

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Satchel

What does Satchel do?

Is Satchel a public or private company?

Satchel is a private company. It is classified as unknown and is currently operating.

When was Satchel founded?

Satchel was founded in 2017. It employs 11 to 50 people.

Where is Satchel based?

Satchel is headquartered in Vilnius, Lithuania, in the Europe region.

How does Satchel make money?

Four revenue lines are on record. Multi-Currency Account Services are the primary driver. The others are payment Processing, currency Exchange and banking as a Service (BaaS).

Who are Satchel's main competitors?

Direct peers on record are Currencycloud, Payoneer, Revolut, Paysera and Wise. Broad incumbents are Banking Circle, NIUM and Solaris SE. Swan is listed as an emerging player. Wallter is listed as a regional player.

Does Satchel have an API?

Yes. Satchel offers an extensive API providing seamless data integration and exchange capabilities. The API includes: payment gateway to CENTROlink, API for card issuance, API for card acquiring, and API for payment processing. The API enables partners and clients to expand their customers' opportunities through integration. Developer documentation is at satchel.eu/api.

What industry is Satchel in?

Satchel's product category is Digital Banking & Payment Solutions. Its primary akta.pro industry code is FSAMACAA, Merchant Payment Gateways (API/Hosted Checkout), with a secondary code of THALAHAB, Card Issuing & Virtual Cards (lodge cards, single-use, tokenization). Its NAICS code is 522210 and its SIC code is 6199.