Verifo

What Verifo does

Verifo is the consumer-facing brand of Verified Payments UAB, a Vilnius-headquartered electronic money institution licensed by the Bank of Lithuania (License No. 27, issued February 2018) to issue e-money and provide payment services across the European Union. The company operates a cloud-based multi-currency payment platform that issues individual and business IBAN accounts, executes SEPA transfers across 36 European countries, processes SWIFT wire transfers in 60+ currencies to 200+ countries, and supports a multi-currency wallet with SPOT-plus-spread FX. An integrated Visa debit card (issued in partnership with Pervesk UAB) and a Merchant API for payment collection and reporting round out the product surface.

The platform is built on conventional web infrastructure (PHP/Symfony backend, REST APIs, Docker-based deployment) and is delivered entirely through digital channels: a self-serve web onboarding flow (ib.verifo.com), native iOS and Android apps, and developer documentation. Distribution combines self-service onboarding with a direct sales team for enterprise B2B, a structured referral partner program offering up to 25% commission, and an authorized intermediary (DCC Data Communication Company LTD, Cyprus) for payment services distribution. Customer segments are horizontal: starting sole traders, established international e-commerce merchants, and EEA individual consumers.

Verifo monetizes through a layered fee schedule: one-time account opening fees (free Standard to 800+ EUR Pro for B2B; 49.99 EUR for Standard+ personal), monthly maintenance fees (1.99–200+ EUR), percentage-based SEPA/SWIFT transaction fees with minimum thresholds, FX margin, debit card issuance/withdrawal/POS fees, and miscellaneous administrative services (refunds, transaction investigations, priority processing). Verified Payments UAB is privately held with no disclosed parent, no disclosed venture funding, and no publicly available financials; it has held its EMI license continuously since 2018 and operates two offices in Lithuania (Vilnius and Kaunas).

Name

Verifo

Legal name

Verified Payments UAB

Website

https://verifo.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

11–50 employees

Short description

Verifo (Verified Payments UAB) is a Bank of Lithuania-licensed e-money institution offering IBAN accounts, SEPA/SWIFT payments in 60+ currencies, multi-currency wallets, merchant APIs, and Visa debit cards to sole traders, international e-commerce businesses, and EEA consumers via a self-serve digital platform.

Ownership category

akta.pro rank

Product category

Digital Banking / Electronic Money Institution Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Credit Card Issuing (522210)

SIC

Finance Services (6199)

akta.pro primary industry

Multi-Currency Accounts, Wallets & IBAN Services (FSAMAIAG)

akta.pro secondary industries

Digital Payments & Money Movement (ACH/SEPA/FPS, Bill Pay, P2P) (FSAGAAAF), Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB), Card Issuing & Virtual Cards (lodge cards, single-use, tokenization) (THALAHAB)

Keywords

• Electronic money institution
• International payment services
• Multi-currency wallet
• SEPA SWIFT transfers
• Merchant payment APIs

Headquarters

HQ city

Vilnius

HQ country

Lithuania

HQ region

Europe

Offices4 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Payment Transaction Fees (SEPA & SWIFT): Fees charged on outgoing and incoming SEPA and SWIFT transfers. SEPA transfers priced per transaction; SWIFT transfers charged as percentage of transfer amount with minimum fees. Core revenue driver for both business and personal accounts.
2. Account Maintenance Fees: Monthly subscription-style fees for account maintenance across Standard, Growth, and Pro business tiers (5 EUR to 200+ EUR/month), and Standard+ personal tier (1.99–29.99 EUR/month). Segregated client funds accounts carry additional monthly fees.
3. Account Opening Fees: One-time fees for B2B account opening: Standard FREE, Growth 200 EUR, Pro from 800 EUR. Personal Standard+ account opening at 49.99 EUR. Segregated account opening from 350 EUR. Priority account opening available at premium rates.
4. Foreign Exchange / Currency Conversion: Revenue generated through FX margin (SPOT + spread) when clients convert between supported currencies. The platform supports 60+ currencies. FX spread applied on all conversion transactions.
5. Debit Card Fees: Physical and virtual Visa debit card issuance (free), maintenance, replacement (15 EUR), POS payment fees (1.2% in EEA, higher internationally), and ATM withdrawal fees (1.5% min 1.25 EUR in EEA, 2.5% min 2.5 EUR internationally).
6. Referral Commissions: Partners earn commissions on referred clients' activity: up to 25% on account opening, maintenance, and SEPA transfers; 10% on SWIFT transfers. Verifo retains the remainder, effectively a revenue share model.
7. Additional Service Fees: Fees for priority account opening, official reference letters, suspended account reactivation, remaining balance holding, refund charges (10–30 EUR), transaction investigation (30 EUR), and other administrative services.

Pricing tiers

Go-to-market motion4 records

Distribution channels6 records

Marketing channels6 records

Core offering

Verifo is a licensed electronic money institution that issues Individual IBAN accounts and provides SEPA and SWIFT payment services, multi-currency wallets (60+ currencies), payment acquiring for e-commerce, and merchant APIs for payment integration. It serves sole traders, SMEs, and international e-commerce businesses with a self-service digital platform accessible via web and mobile, supplemented by an integrated Visa debit card product.

Product overview

Verifo is a modern electronic money institution and payment platform offering an integrated suite of financial services. The core platform provides Individual IBAN accounts enabling SEPA and SWIFT payments, with multi-currency wallet capabilities supporting 60+ currencies. The product portfolio includes SEPA Payments for euro-denominated transfers within Europe, SWIFT Payments for international wire transfers, and Multi-currency Payments for global currency management. Merchant-facing offerings include Payments Collection (Acquiring) for e-commerce businesses, Merchant APIs for developer integration, and B2B Business Accounts with segregated client funds options. Personal Cards (Visa Debit) add card-based payment capabilities for individual users. The platform is designed for sole traders, businesses, and international e-commerce platforms requiring cross-border payment solutions.

Differentiator

Problem solved

Functional benefit

Products and services

• Individual IBAN Account Individual International Bank Account Number (IBAN) account that lets users collect and manage business or personal payments via SEPA (Europe) and SWIFT (global) channels. Available to sole traders, freelancers, and businesses; opened online in minutes via self-service platform.
• SEPA Payments Euro-denominated payment service for fast, reliable, and affordable transfers between SEPA zone countries (36 European countries) with same-day or next-day execution. Used by businesses and individuals to send and receive euro payments across Europe.
• SWIFT Payments International wire transfer service enabling multi-currency payments in 60+ currencies to bank accounts worldwide via the SWIFT network. Reaches 11,000+ financial institutions in 200+ countries with execution in 1–4 business days.
• Multi-Currency Wallet Cloud-based multi-currency wallet allowing users to receive, convert, hold, and pay out in 60+ currencies with unique account details per currency. Targets international businesses and consumers needing currency management and FX conversion.
• Payments Collection (Acquiring) End-to-end payment processing solutions for e-commerce businesses, including merchant API integration, mass payouts to suppliers and freelancers, settlement accounts, and support for multiple payment methods. Designed for online merchants and cross-border retail.
• Merchant APIs Developer-facing REST API that enables merchants to embed payment collection functionality onto their websites, process payment requests, check payment status, and generate detailed payment reports. Supports three-step integration (Register → Create app → Integrate) with sandbox testing.
• Visa Debit Cards (Physical and Virtual) Visa debit cards (physical and virtual) integrated into the Verifo app with worldwide acceptance, instant in-app controls (freeze, block, retire, PIN management), spending limits, and ATM withdrawals. Cards issued by Pervesk UAB in partnership with Verifo.
• B2B Business Accounts (Standard / Growth / Pro) B2B business account services including segregated client funds accounts, multi-currency support, mass payouts, settlement accounts, and IBAN issuance for corporate clients. Available in three tiers — Standard (free, 5 EUR/month), Growth (200 EUR opening, 50 EUR/month), and Pro (from 800 EUR opening, 200+ EUR/month).

Quantifiable outcome

• SEPA transfers within 1–2 business days across 36 European countries; SWIFT transfers in 1–4 business days to 200+ countries
• +3 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Three partnerships are on record, tiered minor and core.

• WALLESSminorGTM or Marketing PartnerWALLESS is listed as a partner on Verifo's homepage. Nature of partnership appears to be co-marketing or referral collaboration, though specific terms are not disclosed.
• BAS: Baltic Amber SolutionsminorGTM or Marketing PartnerBAS (Baltic Amber Solutions) / BankingLab is listed as a partner on Verifo's homepage, suggesting a collaborative relationship in the Baltic fintech ecosystem.
• DCC Data Communication Company LTDcoreChannel Partner/ Reseller/ DistributorDCC Data Communication Company LTD (company code HE367993, Loucias Nicolaidou STR 16A, Ayia Fyla, 3117 Limassol, Cyprus, website: interbanx.net) is an intermediary authorized to provide payment services on behalf of Verified Payments UAB and to distribute or redeem electronic money. Listed on the Bank of Lithuania's website as an authorized intermediary.

Scale indicators5 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Payoneer: Payoneer provides multi-currency receiving accounts, international payments, mass payouts and working capital for freelancers, marketplaces and cross-border businesses — a direct overlap with Verifo's e-commerce and sole-trader segments.
• Revolut: Revolut is a UK/Lithuania-licensed digital bank offering multi-currency wallets, IBANs, SEPA/SWIFT transfers, and Visa debit cards to consumers and businesses. Directly competes with Verifo on core multi-currency and card propositions.
• WorldRemit: WorldRemit offers international money transfers and multi-currency digital wallets, with a focus on emerging-market corridors. Overlaps with Verifo on cross-border payments for individual and small-business users.
• Wise: Wise is the leading UK-regulated cross-border payments and multi-currency account provider. It directly competes with Verifo across multi-currency wallets, IBAN accounts, SEPA/SWIFT transfers and card issuance for both consumers and businesses.
• iBanFirst: iBanFirst is an EU-licensed payment institution focused on multi-currency accounts and cross-border B2B payments for SMEs. Directly comparable to Verifo's B2B accounts and FX proposition.
• Paysera: Paysera is a Lithuania-licensed EMI offering multi-currency accounts, SEPA/SWIFT payments, merchant acquiring and business accounts. Same regulatory regime and product set as Verifo, making it the closest comparable Baltic peer.
• Remitly: Remitly is a cross-border remittance and digital wallet provider offering multi-currency accounts and SEPA/SWIFT transfers globally. Comparable to Verifo on cross-border money movement for individuals and SMBs.

Broad incumbents

• Stripe: Stripe is a global payments platform with APIs for merchant acquiring, payouts and multi-currency settlement. Verifo's Merchant API competes with Stripe's developer-facing payments stack, though Stripe operates at much larger scale.
• N26: N26 is a European digital bank offering euro IBANs, SEPA transfers, multi-currency and debit cards. A broader incumbent that competes for the same EEA consumer and freelancer segment as Verifo.

Emerging players

• Modulr: Modulr is a UK/EU-licensed EMI providing payment accounts, virtual IBANs, and embedded payments APIs. Comparable to Verifo in leveraging EMI license status to deliver B2B and embedded payment infrastructure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/verifo-com
• Xx.com/Verifo_unBank

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Subsidiaries1 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 Verifo