What ConnectPay does

ConnectPay UAB is an EU-licensed Electronic Money Institution (EMI License No. 24) headquartered in Vilnius, Lithuania, founded in 2017, operating an embedded finance and Banking-as-a-Service platform. The company enables fintechs, online marketplaces, e-commerce platforms, crowdfunding and lending platforms, neobanks, remittance providers, and other online businesses to embed financial services—IBAN accounts (digital wallets, business, personal, and segregated), payment processing (SEPA Instant/SCT, cross-border SWIFT, currency exchange in 80+ currencies, open banking, card acquiring, recurring payments), and virtual/physical VISA debit cards—via a single unified API suite. Built-in compliance modules (KYC/KYB, AML screening, fraud prevention) run under ConnectPay's EMI license, allowing clients to launch financial products without obtaining their own regulatory authorizations while ConnectPay handles regulatory adherence. The platform is ISO/IEC 27001 and ISO 22301 certified, supports 80+ currencies, and integrates with a broad partner stack including Visa, Mastercard, SWIFT, SEPA, AWS, Salt Edge, Sensedia, iDenfy, IDnow, ComplyAdvantage, iovation, Refinitiv, and Thomson Reuters.

The business model combines transaction-based fees (SEPA, cross-border, FX, card acquiring), API/platform access fees, card issuing and interchange revenue, and white-label licensing for B2B2B/B2B2C partners who embed ConnectPay's rails under their own brand. Go-to-market is API-first with enterprise field sales and an authorized agent/distributor channel. As of 2025, ConnectPay processes approximately 1.9 million transactions per year representing €3.6 billion in annual payment turnover, with 92% of transactions processed via API, €75 million in client funds held under segregated accounts, and an 8-second average automated onboarding duration. Documented customers include InSoil (eco-investment infrastructure, 15,000+ users migrated), Softloans (embedded lending, €1.375M average monthly transaction volume), and BeMyBond (bond investment platform, 1,400+ customers onboarded).

The company is privately held with no disclosed funding rounds, acquisitions, or leadership changes in the available source data, indicating independent, internally financed operation since 2017. Geographic operations are anchored in Lithuania under EEA passporting, with marketing reach claimed across six continents and earned-media presence in Yahoo Finance, WSJ, Sifted, Finextra, The Paypers, Tech EU, and Finance Review. Customer concentration evidence is limited to three startup case studies, suggesting a distributed book of platform clients rather than anchor-enterprise dependence.

Name

ConnectPay

Legal name

ConnectPay UAB

Website

https://connectpay.com

Company type

Private

Founded year

2017

Operating status

Operating

Headcount range

51–100 employees

Short description

ConnectPay is an EU-licensed Lithuanian Electronic Money Institution (EMI License No. 24) operating an embedded finance and Banking-as-a-Service platform. Via a single API, it enables fintechs, marketplaces, crowdfunding, lending, and e-commerce platforms to embed IBAN accounts, payments, cards, and compliance under its pan-European license.

Ownership category

akta.pro rank

Product category

Embedded Finance / Banking-as-a-Service

NAICS

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

SIC

Finance Services (6199)

akta.pro primary industry

Embedded Card Issuing & Card-as-a-Service (FSAGALAC)

akta.pro secondary industries

Payment Gateways & API Connectivity (FSAGABAB), Integrated Payment Processors (PSP/Acquirer) (FSAMABAA), A2A Payment Initiation Service Providers (PISPs) (FSAMAFAB), Cross-Border & FX Payments Platforms (BPAMAFAK)

Keywords

• Embedded finance
• Banking-as-a-Service
• Payment processing
• Card issuing
• Financial compliance

Headquarters

HQ city

Vilnius

HQ country

Lithuania

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. Transaction-based fees: Fees generated from payment processing including SEPA transactions, cross-border payments, currency exchange, and card acquiring. Transaction fees represent a core revenue stream from embedded finance operations.
2. API/Platform access fees: Revenue from providing API access to the embedded finance platform, including account services (IBAN accounts, digital wallets), payment processing APIs, and compliance-as-a-service features.
3. Card issuing fees: Revenue from issuing virtual and physical debit cards (business and personal), including card processing fees and interchange revenue.
4. White-label/Embedded licensing: Revenue from white-labeling the platform for B2B2B and B2B2C partners who embed ConnectPay's financial infrastructure under their own brand.

Pricing tiers

Go-to-market motion3 records

Distribution channels3 records

Marketing channels6 records

Core offering

ConnectPay is an EU-licensed Electronic Money Institution that provides embedded finance and Banking-as-a-Service infrastructure to platforms, marketplaces, and fintechs. Through its API-first platform, the company enables clients to issue IBAN accounts, digital wallets, business and personal cards, and execute SEPA, SWIFT, and cross-border payments, all backed by built-in KYC/KYB, AML, and transaction monitoring.

Product overview

ConnectPay offers a modular embedded finance platform with BaaS (Banking as a Service) capabilities licensed as an EMI across Europe. The platform follows a platform-plus-modules architecture where businesses can select and connect components via a single API. The core offering includes Embedded Finance and Embedded Compliance platforms, with modules covering IBAN accounts (Digital Wallets, Business Accounts, Personal Accounts, Segregated Accounts), payment services (SEPA Instant & SCT, Cross-border & SWIFT, Currency Exchange with 80+ currencies, Open Banking, Card Acquiring, Recurring Payments), and card programs (Business Cards and Personal Cards as virtual, physical, or white-label VISA debit cards). All modules integrate with built-in compliance including KYC/KYB and fraud prevention, enabling businesses to embed financial services into their platforms without managing regulatory complexity.

Differentiator

Problem solved

Functional benefit

Products and services

• Embedded Finance Platform Modular API-driven infrastructure that lets businesses embed regulated banking, payment, and card products under their own brand. Designed for platforms, marketplaces, and fintech companies operating in the EEA.
• IBAN Accounts (Business, Personal, and Segregated) Issuance of multi-currency IBAN accounts in business, personal, and segregated (client funds) variants, available to clients via API for embedding into their platforms.
• Digital Wallets API-based digital wallets enabling clients to store, hold, and move funds on behalf of their end users.
• Business and Personal Cards Issuing of branded virtual and physical debit cards for business and personal use, fully programmable via API.
• SEPA Instant and SEPA Credit Transfer SEPA Instant and SEPA Credit Transfer processing available across the EEA, integrated via API.
• SWIFT and Cross-Border Payments SWIFT and cross-border payment processing supporting international transfers and multi-currency settlement.
• Currency Exchange Multi-currency FX engine enabling clients to convert and hold balances in multiple currencies via API.
• Open Banking PSD2-compliant Open Banking integration providing account information (AIS) and payment initiation (PIS) services.
• Card Acquiring Card acquiring services allowing merchants and platforms to accept card payments from end customers.
• Recurring Payments Subscription and recurring payment infrastructure to automate repeated collections from end users.
• Embedded Compliance Compliance-as-a-service layer including KYC, KYB, AML, and transaction monitoring, available via API as a standalone module.

Quantifiable outcome

• 1.9M transactions processed annually with €3.6B payment turnover (2025)
• +5 more outcomes

Named customers3 records

Segments7 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

Feature5 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• VisacoreTechnology or IntegrationVisa partnership enables ConnectPay to offer VISA debit cards (virtual and physical) as part of its embedded finance solutions. Cards are available with ConnectPay branding or white-label options for business and personal use.
• MastercardcoreTechnology or IntegrationMastercard partnership provides card issuing capabilities as part of ConnectPay's payment infrastructure offerings.
• SWIFTcoreTechnology or IntegrationSWIFT integration enables cross-border payment processing and global transaction capabilities for ConnectPay's embedded finance platform.
• SEPAcoreTechnology or IntegrationSEPA (Single Euro Payments Area) integration enables euro-zone payments including SEPA Instant and SEPA Credit Transfer capabilities.
• AWScoreTechnology or IntegrationCloud infrastructure provider supporting ConnectPay's platform architecture and scalability.
• Unicorns LithuaniaminorStrategic or Co-development PartnerAssociation mobilizing and encouraging startups, including ConnectPay, and the public to build the future of Lithuania based on high value-added economy.
• Fintech Hub LTminorStrategic or Co-development PartnerOrganization uniting and supporting licensed Fintechs in Lithuania, advocating for their interests, creating favorable conditions for operations, development, and growth, promoting highest risk management and compliance standards.
• Center of Excellence in Anti-Money LaunderingminorStrategic or Co-development PartnerFirst public-private sector partnership in Europe operating as a separate institution. Pools experience, knowledge, and competencies of law enforcement, supervisory, and other public authorities and private sector representatives to create a safer financial system in Lithuania.
• European Compliance Professionals Association (ECPA)minorStrategic or Co-development PartnerAssociation connecting compliance professionals, fostering a strong and supportive community through networking events, online forums, and mentorship programs.
• Ukrainian-Lithuanian Chamber of CommerceminorStrategic or Co-development PartnerPlatform for communication between entrepreneurs and investors, studying new opportunities, exchange of ideas, experience, and best practices between Ukraine and Lithuania.

Scale indicators10 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Treezor: French EMI-licensed BaaS provider delivering payment account management, card issuing, and KYC via APIs to fintechs and corporates — overlapping target customers and product mix with ConnectPay.
• Swan: French BaaS platform with EMI license offering accounts, cards, SEPA payments, and KYC via API to fintechs and platforms across Europe — directly comparable embedded finance positioning.
• Solarisbank: German BaaS platform providing regulated banking infrastructure (accounts, payments, cards, lending, KYC) via APIs to platforms and fintechs across Europe — same core offering and customer base as ConnectPay.
• Banking Circle: Luxembourg-based licensed payments bank offering embedded banking, accounts, payments, and FX infrastructure to platforms and fintechs in Europe — directly comparable regulated BaaS to ConnectPay.
• Modulr: UK-based payments-as-a-service provider offering accounts, Faster Payments, Bacs, and card issuing via API to platforms and businesses — overlapping BaaS functionality with ConnectPay.
• Mangopay: Luxembourg-based BaaS provider specialized for marketplaces and platforms, offering e-wallets, payment acceptance, and payout infrastructure — same B2B2B/B2B2C platform niche as ConnectPay.

Emerging players

• Banked: UK-based payments infrastructure provider enabling account-to-account payments and BaaS for platforms — narrower but overlapping capability set with ConnectPay's open banking/payments stack.
• ClearBank: UK clearing bank offering real-time payment accounts and BaaS rails to fintechs and embedded platforms — comparable regulated infrastructure, though UK-focused and still scaling BaaS distribution.

Broad incumbents

• Adyen: Global payments processor offering unified acquiring, payouts, and platform-style financial services to marketplaces and large enterprises — adjacent broad incumbent in embedded payment flows.
• Stripe: Global payments giant with Stripe Connect (embedded finance/accounts/issuing) and Stripe Issuing products serving platforms and marketplaces worldwide — a much larger incumbent covering overlapping functionality to ConnectPay.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

Compliance4 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 ConnectPay