Virši
Virši is a Latvian energy and convenience retailer operating 84 (expanding to 103) fuel service stations across Latvia, selling gasoline, diesel, CNG, LPG, AdBlue, EV charging, home electricity, convenience goods, and B2B fleet cards to private individuals and corporate fleet customers.
- Company typePublic
- Founded1995
- HeadquartersAizkraukle, Latvia
- Headcount501–1,000
- GTM typeB2B and B2C
- OfferingServices
What Virši does
Virši (legal entity AS VIRŠI-A) is a Latvian energy and convenience retailer founded in 1995 and headquartered in Aizkraukle. The company operates a network of 84 fuel service stations across Latvia, expanding to 103 stations via the announced acquisition of Astarte-Nafta, and recently entered the Lithuanian market with its first EV charging point at Marijampole. Its core offering spans multiple fuel types (95E, 98E, diesel, CNG, LPG, AdBlue), high-capacity EV charging (CCS and CHAdeMO), convenience retail including proprietary 'Virši Coffee', home electricity supply under the 'Virši electricity' brand, and a B2B fleet card program administered through the 'Virši Tev' self-service portal. The company employs 501-1,000 staff and is publicly listed on Nasdaq Riga First North.
The business model combines transactional fuel and convenience store sales at owned stations with recurring revenue streams from home electricity subscriptions, B2B fleet cards, and usage-based EV charging tariffs. The technology stack is a service-station retail platform integrating fuel pumps, EV chargers, point-of-sale convenience retail, a mobile loyalty app (Virši App), and a B2B portal (Virši Tev) for corporate fleet management, invoicing, and multi-user administration. Marketing is delivered through the corporate website, mobile app, loyalty program, and the B2B portal, with back-office analytics running on Microsoft Dynamics 365.
Virši serves two primary customer segments: private individuals purchasing fuel, charging EVs, buying electricity for their homes, and shopping at convenience stores; and business/corporate customers using fleet cards across Virši and partner fueling stations for fleet management and expense reporting. The company also operates a renewable-energy subsidiary, SIA Virši Renergy. Reported 2025 financial performance includes record EBITDA and net profit growth, EV charging energy more than doubled versus 2024, and plans for a biomethane plant were disclosed, indicating continued diversification beyond traditional fuel retail into electricity, EV charging, and renewable fuels.
Virši firmographics
Firmographics- Name
- Virši
- Legal name
- AS VIRŠI-A
- Website
- https://virsi.lv
- Company type
- Public
- Founded year
- 1995
- Operating status
- Operating
- Headcount range
- 501–1,000 employees
- Short description
- Virši is a Latvian energy and convenience retailer operating 84 (expanding to 103) fuel service stations across Latvia, selling gasoline, diesel, CNG, LPG, AdBlue, EV charging, home electricity, convenience goods, and B2B fleet cards to private individuals and corporate fleet customers.
- Ownership category
- akta.pro rank
Virši industry classification
Industry- Product category
- Fuel Retail and Convenience Services
- NAICS
- Gasoline Stations with Convenience Stores (45711), Gasoline Stations with Convenience Stores (457110), Gasoline Stations (4571)
- SIC
- Retail-Auto Dealers & Gasoline Stations (5500)
- akta.pro primary industry
- Convenience Retail & Foodservice at Forecourts (C-Store/QSR) (EUALAIAE)
- akta.pro secondary industry
- Fuel Management & Fleet Card Programs (THADAKAH)
Keywords
Where Virši is headquartered
LocationHeadquarters
- HQ city
- Aizkraukle
- HQ country
- Latvia
- HQ region
- Europe
Offices2 records
Markets served
Virši business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Supply Chain, Operations, Personnel, Infrastructure, Marketing or Sales, Technology or R&D
Revenue model
- Fuel Sales: Sale of various fuel types including 95E, 98E, DD (diesel), CNG, LPG, and AdBlue at service stations across Latvia.
- Convenience Store Sales: Sale of food, beverages, coffee, and convenience items at service stations. Coffee is described as 'Latvia's favorite coffee'.
- Electricity Provision: Home electricity supply service under 'Virši electricity' brand with discounted electricity prices and discounts on purchases at Virši stations.
- EV Charging: Electric vehicle charging services at charging stations with CCS and CHAdeMO standards. Energy charged more than doubled in 2025.
- B2B Fleet Cards: Corporate fuel cards for businesses allowing purchases at Virši and partner stations with invoicing and reporting capabilities.
Go-to-market motion2 records
Distribution channels4 records
Marketing channels4 records
Virši product offering
Product offeringCore offering
Virši operates a network of fuel service stations across Latvia selling gasoline (95E, 98E), diesel, CNG, LPG, and AdBlue, alongside on-site convenience stores, high-capacity CCS/CHAdeMO EV charging, branded coffee, and a residential electricity supply service. B2B customers are served through the Virši Tev self-service portal with corporate fuel cards, invoicing, and fleet-management reporting.
Product overview
Virši operates as a diversified energy and convenience retailer with a platform-plus-modules architecture. The core offering is the Fuel Retail Network of service stations across Latvia (expanding from 84 to 103 stations through the Astarte acquisition) and Lithuania. This core is augmented by complementary modules: EV Charging Network (CCS/CHAdeMO fast chargers), Virši Electricity (residential power supply with fuel discounts), Virši Coffee (specialty coffee with roasting from Brazil), the Virši App (mobile loyalty platform), Virši Tev B2B Portal (enterprise self-service for fleet management and card administration), a Customer Loyalty Program, and convenience stores at stations.
Differentiator
Problem solved
Functional benefit
Products and services
- Fuel Retail Network Network of fuel service stations across Latvia (84, expanding to 103) selling gasoline (95E, 98E), diesel (DD), CNG, LPG, and AdBlue to private and business customers.
- EV Charging Network High-capacity CCS and CHAdeMO electric vehicle charging service available at Virši service stations across Latvia and Lithuania for EV owners.
- Virši Electricity (Home Electricity Supply) Residential electricity supply service branded "Virši electricity" providing home power with discounted tariffs and additional discounts on fuel and EV charging at Virši stations.
- Virši Coffee Branded coffee and beverage offering served at Virši service stations, marketed as "Latvia's favorite coffee" with beans roasted from Brazilian plantations.
- Virši Mobile App Mobile application available on Google Play and the Apple App Store offering loyalty discounts on fuel, hot beverages, car wash, windshield fluid, and EV charging, along with home electricity consumption monitoring.
- Virši Tev B2B Self-Service Portal Self-service web portal for corporate fleet customers to manage fuel cards, view invoices, access detailed purchase reports from Virši and partner stations, and administer user access.
- Virši Loyalty Program (Virši Card) Loyalty card and program for private customers that provides discounts on fuel, food, beverages, services at Virši stations, and on home electricity tariffs.
- Convenience Store On-site convenience stores at Virši fuel stations selling food, beverages, and car-related products to station visitors.
Quantifiable outcome
- Record EBITDA and net profit growth for 2025
- +2 more outcomes
Companies that use Virši
Customer profileSegments3 records
Ideal customer profiles3 records
Virši technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature3 records
Virši partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and minor.
- Astarte (Naftimpeks)coreVirši announced plans to take over Astarte fueling stations in a deal involving long-term lease arrangements. Naftimpeks Chairman Ivars Blumbergs commented on the partnership. The transaction is subject to approval from the Competition Council and would expand Virši's network from 84 to 103 stations (>20% growth).
- Marijampole Service StationminorVirši opened its first charging point in Lithuania at the Marijampole service station, marking entry into the Lithuanian market for EV charging services.
- Partner Fueling StationsminorB2B customers can use their Virši fuel cards at partner fueling stations in addition to Virši-owned stations. The Virši Tev portal provides reports on purchases at both Virši and partner locations.
Scale indicators4 records
Recent moves8 records
Expansion highlights7 records
Virši competitors and assessment
Company assessmentRegional players
- Olerex: Estonian fuel and convenience station operator with adjacent Baltic market presence. Highly comparable fuel/convenience retail model, useful benchmark for unit economics and loyalty execution.
- Alexela: Estonian fuel retailer and energy group with growing EV charging and renewables footprint. Comparable diversified energy-retailer model pursuing fuel-to-energy transition similar to Virši.
- Latvijas Nafta: Latvian fuel wholesaler/retailer. Most locally comparable fuel-sector peer for market dynamics, regulation, and competitive intensity in Latvia.
- Viada: Lithuanian fuel retailer and convenience operator. Most directly relevant competitor given Virši's Lithuania market entry via EV charging at Marijampole.
Broad incumbents
- Neste: Finnish energy company with fuel retail operations across the Nordics/Baltics and a global leadership position in renewable fuels. Comparable on the energy-transition and fuel-retail integration thesis.
- MOL Group: Central European oil and gas group operating a large fuel-retail and convenience network. Comparable as a regional incumbent pursuing integrated fuel, EV charging, and non-fuel retail strategies.
- Equinor: International energy company with fuel retail and aggressive EV charging build-out in Europe. Comparable on the diversified energy-retailer model and renewable energy transition roadmap.
- Shell: Global oil major with branded fuel retail, convenience, and EV charging networks. Comparable as a broad incumbent benchmark for station economics, EV rollout pace, and brand-driven convenience retail.
Emerging players
- St1: Nordic/Baltic fuel retailer focused on renewable fuels and energy transition. Comparable as a smaller, transition-focused fuel retailer investing in renewables and EV-adjacent offerings.
Direct peers
- Circle K: Global fuel and convenience retailer with significant Baltic presence. Competes directly with Virši across fuel, EV charging rollout, and convenience store offerings in Latvia and the broader Baltics.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Virši social profiles
Digital presenceVirši financial estimates
Financial estimateRevenue estimate
Valuation estimate
Virši leadership team
Management profileNumber of profiles
Virši subsidiaries and ownership
Company hierarchySubsidiaries1 record
Virši funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Virši M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Virši
What does Virši do?
Virši operates a network of fuel service stations across Latvia selling gasoline (95E, 98E), diesel, CNG, LPG, and AdBlue, alongside on-site convenience stores, high-capacity CCS/CHAdeMO EV charging, branded coffee, and a residential electricity supply service. B2B customers are served through the Virši Tev self-service portal with corporate fuel cards, invoicing, and fleet-management reporting.
Is Virši a public or private company?
Virši is a public company. It is classified as public and is currently operating.
When was Virši founded?
Virši was founded in 1995. It employs 501 to 1,000 people.
Where is Virši based?
Virši is headquartered in Aizkraukle, Latvia, in the Europe region.
How does Virši make money?
Five revenue lines are on record. Fuel Sales are the primary driver. The others are convenience Store Sales, electricity Provision, EV Charging and B2B Fleet Cards.
Who are Virši's main competitors?
Regional players on record are Olerex, Alexela, Latvijas Nafta and Viada. Broad incumbents are Neste, MOL Group, Equinor and Shell. St1 is listed as an emerging player. Circle K is listed as a direct peer.
Does Virši have an API?
No public API is recorded for Virši.
What industry is Virši in?
Virši's product category is Fuel Retail and Convenience Services. Its primary akta.pro industry code is EUALAIAE, Convenience Retail & Foodservice at Forecourts (C-Store/QSR), with a secondary code of THADAKAH, Fuel Management & Fleet Card Programs. Its NAICS code is 45711 and its SIC code is 5500.