What Wallester does

Wallester AS is an Estonian payment institution founded in 2017 in Tallinn, regulated by Finantsinspektsioon under Payment Institution licence no. 4.1-1/224, and operating as a Visa Principal Member with PCI DSS Level 1 certification, PSD2/GDPR compliance, and FCA authorisation in the United Kingdom (June 2026). The company runs two product lines built on a single REST-API platform. Wallester Business is a self-serve B2B offering that combines multi-currency IBAN accounts (EUR, USD, GBP, SEK, NOK, DKK, PLN, CZK, HUF, RON), physical and virtual Visa cards (debit, credit, prepaid, payroll, Platinum), real-time expense management, receipt capture, budget analytics, and native integrations with Xero, Sage, QuickBooks, Oracle NetSuite, Datev, Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, Garmin Pay, Fidesmo Pay and Onfido. Wallester White-Label is a Banking-as-a-Service stack that lets banks, FinTechs and other businesses launch branded Visa card programs, a White-Label mobile app for iOS and Android, and BIN sponsorship under Wallester's licensed Visa BIN range, with a stated 4–8 week implementation timeline and dedicated Implementation Manager.

Monetisation combines recurring subscription tiers (Free up to 300 virtual cards, Premium up to 3,000, Platinum up to 15,000, and an Enterprise Suite with custom limits), usage-based authorisation fees up to €0.15 per authorisation, FX conversion margins, Visa Principal Member revenue sharing on transaction volume, White-Label platform licensing, and an affiliate program with PPL and RevShare commissions. Distribution runs through a self-serve digital funnel for SMB and freelancer customers, an enterprise sales motion with Implementation Managers for White-Label partners, an API-first integration path, and a channel/affiliate layer. The customer base spans registered EEA/UK businesses and freelancers on the direct side and named White-Label partners such as Latvijas Pasts (Latvian national postal service), Holm (financial services, 350k+ users) and GF Money (loans across four countries). Cumulative scale reaches 9.2M+ cards issued, 83M+ authorisations processed and 2.5B+ EUR in transactions, with operations extending across the EEA, UK, Switzerland, Ireland, Australia and the USA.

Name

Wallester

Legal name

Wallester AS

Website

https://wallester.com

Company type

Private

Founded year

2017

Operating status

Operating

Short description

Wallester AS is an Estonian payment institution and Visa Principal Member offering multi-currency IBAN business accounts, Visa corporate cards, expense management, and a White-Label BaaS platform to SMBs, freelancers, banks and FinTech partners across the EEA, UK, Switzerland, Ireland, Australia and the USA.

Ownership category

akta.pro rank

Product category

Banking-as-a-Service / Card Issuing Platform

NAICS

Credit Card Issuing (522210)

SIC

Finance Services (6199)

akta.pro primary industry

BaaS Platforms & Sponsor Bank Enablement (FSAGALAA)

akta.pro secondary industries

Cards & Issuing Management (Debit/Prepaid/Credit, Program Management) (FSAGAAAE), Card Issuing & Program Management Platforms (BPAMAFAH), Card Issuing Platforms (Issuer Processing) (FSAGABAD)

Keywords

• Banking-as-a-Service platform
• Corporate card issuing
• Business IBAN accounts
• White-label card programs
• Expense management software

Headquarters

HQ city

Tallinn

HQ country

Estonia

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. White-Label Licensing: Revenue from licensing the BaaS platform to banks, FinTech companies, and other businesses wanting to launch branded card programs. Partners gain access to APIs, mobile apps, card issuing, and compliance infrastructure.
2. Premium Subscription Tiers: Wallester Business offers multiple tariff plans (Free, Premium, Platinum, Enterprise Suite) with increasing virtual card limits. Higher tiers provide additional features and higher card allocations.
3. Card Authorization Fees: Transaction fees per card authorization. Price List mentions up to €0.15 per card authorization. Currency conversion fees also apply for cross-currency transactions.
4. Visa Partnership Revenue: Revenue sharing from Visa as Principal Member for transaction volume processed through the network.
5. Affiliate Referrals: Affiliate program earning PPL (Pay Per Lead) and RevShare commissions from partners referring new clients to Wallester Business.

Pricing tiers

Go-to-market motion3 records

Distribution channels6 records

Marketing channels6 records

Core offering

Wallester is an Estonian-licensed payment institution that provides a Banking-as-a-Service (BaaS) platform offering multi-currency IBAN business accounts, Visa card issuing (physical and virtual debit, credit, and prepaid), and expense management tools. The company operates two main lines: Wallester Business, a B2B financial platform for companies and freelancers, and Wallester White-Label, a BaaS solution enabling banks and FinTechs to launch branded card programs under their own name.

Product overview

Wallester is a financial technology company offering two core product lines: Wallester Business (B2B multi-currency IBAN accounts, Visa corporate cards, expense management, and accounting integrations) and Wallester White-Label (Banking-as-a-Service platform for launching branded card programs). The product portfolio includes virtual cards, prepaid cards, debit cards, credit cards, and payroll cards across Visa Business and Platinum tiers. Add-on modules cover expense management, budget analytics, mobile apps, tokenization, 3D Secure, fraud monitoring, KYC/AML compliance, BIN sponsorship, and payment processing. The platform integrates with major accounting software (Xero, Sage, QuickBooks, Oracle NetSuite, Datev), digital wallets (Apple Pay, Google Pay, Samsung Pay, Fitbit Pay, Garmin Pay, Fidesmo Pay), and identity verification (Onfido) via REST API.

Differentiator

Problem solved

Functional benefit

Brands

• Wallester Business: A business account and card solution offering multi-currency IBAN accounts, virtual and physical corporate cards, expense management, and accounting integrations for businesses and freelancers.
• Wallester White-Label

Products and services

• Wallester Business B2B financial platform combining multi-currency IBAN accounts (15+ currencies), physical and virtual Visa corporate cards, automated expense management, and budget analytics for companies, startups, and freelancers. Includes tiered subscription plans (Premium, Platinum, Enterprise).
• Wallester White-Label Banking-as-a-Service platform that allows banks, payment institutions, FinTechs, and other partners to launch their own branded Visa card programs under their own name, including white-labelled mobile app, BIN sponsorship, and operational infrastructure.
• Corporate Cards Physical and virtual Visa corporate cards for company employees and operational spending, with expense categorization and per-card controls.
• Virtual Cards Instant-issue virtual Visa cards for online payments, subscription management, and digital ad spend with merchant-locked and spend-limit controls.
• Payroll Cards Prepaid Visa cards designed for payroll disbursement, enabling employers to pay employees and contractors without traditional bank accounts.
• Platinum Cards Premium Visa Platinum business cards with higher transaction limits and additional benefits for senior executives and high-spend business users, available on the Enterprise-tier Wallester Business plan.
• Prepaid Card Prepaid Visa card for businesses needing pre-funded spending controls, suitable for vendor payments, travel, and discretionary budgets.
• Debit Card Business Visa debit card tied to the company's multi-currency IBAN account, enabling direct spending from the account balance with real-time controls.
• Credit Card Business Visa credit card offering short-term credit for operational expenses, integrated with the Wallester Business account.
• Card Issuing API REST API product enabling partners to programmatically issue Visa cards, manage cardholders, view balances, and trigger transactions as part of the Wallester White-Label offering.

Quantifiable outcome

• 9.2M+ cards issued across EEA and UK
• +2 more outcomes

Named customers3 records

Segments8 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration12 records

Feature8 records

Partnerships

One partnership is on record.

• VisacoreTechnology or IntegrationVisa Principal Member and FinTech Fast Track member. Enables Wallester to directly license BINs, sponsor third parties, issue cards, and access premium Visa benefits including exclusive discounts, lounge access, and premium offers.

Scale indicators8 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Stripe Issuing: Stripe Issuing is Stripe's API-driven card-issuing product that lets platforms create and manage virtual and physical cards. It overlaps with Wallester's API-first card issuing and program management capabilities for FinTech and platform customers.
• Wise Business: Wise Business offers multi-currency accounts and cards for businesses and freelancers globally, including in the EEA and UK. It competes with Wallester Business on multi-currency IBAN and corporate spending capabilities.
• Pleo: Pleo is a European corporate card and expense management platform serving SMBs and enterprises. It overlaps with Wallester Business on multi-currency cards, expense controls, and accounting integrations across the EEA.
• Marqeta: Marqeta is a leading card-issuing API platform enabling companies to launch and manage physical and virtual payment cards. It directly competes with Wallester's White-Label card issuing infrastructure, especially for embedded card programs at scale.
• Payhawk: Payhawk combines corporate cards, spend management, and accounts payable automation for businesses in Europe. It directly competes with Wallester Business on the corporate card + expense management integration thesis.
• Solaris SE: Solaris is a Berlin-based BaaS platform providing licensed banking infrastructure, card issuing, and embedded finance APIs across Europe. Its core proposition mirrors Wallester's White-Label offering for banks and FinTechs wanting to launch card programs.
• Treezor: Treezor is a French payment institution offering Banking-as-a-Service with card issuing, IBAN accounts, and KYC/AML to FinTechs and corporates. As an EU-licensed BaaS sponsor bank, it competes head-to-head with Wallester's White-Label proposition.

Emerging players

• Banked: Banked provides account-to-account payments and BaaS-style APIs for banks and FinTechs. It overlaps with Wallester's embedded finance and payment infrastructure positioning for partner-led products.
• Spendesk: Spendesk provides corporate cards, expense management, and procurement workflows for European SMBs. It overlaps with Wallester's expense management and card issuing modules but focuses on spend controls rather than full BaaS.

Broad incumbents

• Adyen Issuing: Adyen is a global payments platform whose Issuing product lets businesses create and manage physical and virtual cards as part of a broader acquiring and processing stack. It competes with Wallester's card issuing while also offering wider payment services.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• GitHubgithub.com/wallester/integration-examples
• LinkedInlinkedin.com/company/wallester

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

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 Wallester