Sollo

What Sollo does

Sollo (legal entity SOLLO, UAB, company code 302575294) is a Vilnius-based Lithuanian payment institution licensed by the Bank of Lithuania (Lietuvos bankas) under Payment Institution License No. 3 since February 24, 2011. The company operates a single bill payment collection service that enables consumers to pay utility bills (electricity, gas, water, internet), telecommunications invoices, insurance premiums, education fees, municipal charges, and state fees at intermediary retail locations, accepting both cash and bank card payments. The core technology is payment processing infrastructure that aggregates multiple biller categories into a single physical payment point, with funds settled to service providers by the next business day. Maxima, Lithuania's largest supermarket chain, serves as the primary retail distribution partner.

Sollo monetizes exclusively through a per-transaction commission that ranges from 0.00 to 1.00 EUR depending on payment type, with a 600 EUR cap per single payment and pricing disclosed to the payer before the transaction is completed. There is no proprietary mobile application, digital wallet, or consumer-facing online payment portal documented; all transactions take place at partner retail checkout counters. The operating geography is confined to Lithuania, headcount is reported at 11-50 employees, and ownership appears closely held under a private limited liability (UAB) structure with no disclosed venture capital, private equity, institutional investors, or parent company.

The value proposition is convenience-based: aggregating fragmented bill payment obligations into a single widely accessible physical retail location with extended hours, eliminating the need for consumers to visit specialized payment offices or service provider branches. Customer segments span utility bill payers (primary), government fee payers, financial services customers (insurance, consumer loans), and education fee payers - all served through horizontal segmentation. Distribution relies on a network of Bank of Lithuania-registered intermediary retail partners under the umbrella of "Tarpininko prekybos vietos," with Maxima as the dominant channel. The company is actively soliciting new service-provider and retail partners via its website, suggesting continued focus on network expansion within its domestic Lithuanian footprint rather than geographic or vertical diversification.

Name

Sollo

Legal name

SOLLO, UAB

Website

https://sollo.lt

Company type

Private

Founded year

2011

Operating status

Operating

Headcount range

11–50 employees

Short description

Sollo is a Vilnius-based Lithuanian payment institution operating a bill payment collection network that lets consumers pay utilities, government fees, telecom, insurance, and education invoices in cash or by card, primarily through Maxima supermarket checkout locations across Lithuania.

Ownership category

akta.pro rank

Product category

Bill Payment Collection Services

NAICS

Activities Related to Credit Intermediation (5223)

SIC

Finance Services (6199)

akta.pro primary industry

Merchant-of-Record (MoR) & Payment Facilitation (PayFac) Infrastructure (FSAGABAE)

Keywords

• Bill payment collection
• Payment institution services
• Utility bill payments
• Retail payment network
• Payment intermediary services

Headquarters

HQ city

Vilnius

HQ country

Lithuania

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Technology or R&D, Marketing or Sales, Others

Revenue model

1. Payment Collection Commission: Sollo charges a commission fee per payment transaction collected at intermediary retail locations. The commission ranges from 0.00 to 1.00 EUR per payment, with the exact amount depending on the type of payment being made. This is a transaction-based revenue model where the company earns a fee for each bill payment processed through its network of retail partners.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels2 records

Core offering

Sollo is a licensed Lithuanian payment institution that operates a bill payment collection network enabling consumers to pay utility bills (water, electricity, gas, internet), telecommunications, insurance, education, government fees, and other service provider invoices at intermediary retail locations. Payments are accepted in cash or by bank card at partner retail outlets (primarily Maxima supermarkets), with funds transferred to the underlying service providers by the next business day. The service is governed by Payment Institution License No. 3 issued by the Bank of Lithuania.

Product overview

Sollo operates as a single-product bill payment collection service. The company provides a unified payment platform that aggregates multiple bill categories — utilities (water, electricity, gas), telecommunications, insurance, community fees, state fees, and other services — into one service accessible at intermediary retail locations. No modular or multi-product architecture is described.

Differentiator

Problem solved

Functional benefit

Products and services

• Bill Payment Collection Service (Įmokų surinkimo paslauga) A unified bill payment collection service that aggregates multiple bill categories (water, electricity, gas, internet, telecommunications, insurance premiums, consumer loans, community/building maintenance fees, kindergarten/school/university fees, state fees, and fishing licenses) into a single service accessible at intermediary retail locations. Customers can pay in cash or by bank card and receive a confirmation receipt; funds are settled to service providers by the next business day. Maximum single payment amount is 600 EUR.

Quantifiable outcome

• Next business day settlement to service providers

Named customers1 record

Segments4 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• MaximacoreChannel Partner/ Reseller/ DistributorMaxima is the primary retail chain partner providing physical locations for Sollo's bill payment collection services. Customers can pay utility bills, government fees, and other service invoices at Maxima checkout counters using cash or bank cards.

Scale indicators1 record

Recent moves4 records

Expansion highlights3 records

Direct peers

• PayPoint: UK-listed bill payment and retail services network that enables consumers to pay utility, telecom, and government bills at convenience stores and other retail locations. Closely comparable model to Sollo's Maxima-based Lithuanian cash bill collection network, though at materially larger scale.
• Paymentus: US-based electronic bill payment platform serving utility, municipal, and service provider billers via digital channels. Comparable bill-payment aggregation business model serving the same downstream biller types as Sollo.
• Post Office (UK) Bill Payment Service: The UK Post Office offers bill payment services via its branch network, enabling consumers to pay utility, government, and other bills in cash. Operates a similar retail cash-aggregation model for bill payment serving financial inclusion use cases like Sollo.
• Payzone: Ireland/UK retail payment network providing bill payment, top-up, and cash services through a network of retail agents. Operates a near-identical retail-based intermediary cash collection model for utility and other bill payments.

Broad incumbents

• Euronet Worldwide: Global payments company operating retail payment networks (including ATM and money transfer services) across many countries. Overlaps with Sollo's retail-aggregated cash payment model at much larger scale and broader geographic footprint.
• Worldline: Major European payment service provider offering merchant acquiring, payment processing, and digital services across the EU. Overlaps with Sollo in payment services infrastructure and shares the same EU/PSD2 regulatory context.
• ACI Worldwide: Global real-time electronic payment and banking solutions provider. Competes in the broader payment processing infrastructure category relevant to Sollo's bill collection and merchant biller services.

Emerging players

• Wallter: Baltic-region fintech building bill payment and account-to-account money services targeting the same Lithuanian consumer and SMB segments that Sollo's Maxima-based network serves.

Regional players

• Paysera: Lithuanian-origin fintech operating electronic money and payment services across the Baltics and beyond. Provides competing payment and account services within Sollo's home market and regional geography.
• ConnectPay: Lithuania-based electronic money institution offering payment and account services in the Baltics and EEA. Adjacent payment services competitor operating in Sollo's home market under a related license class.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments

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

Frequently asked questions about Sollo