Cloud-first digital banking platform myTU has successfully raised €10 million to accelerate its product development, enhance its acquiring and lending services, and work towards obtaining a full banking license from the Bank of Lithuania.
The funding round included contributions from existing investors as well as two new strategic partners, bringing myTU’s valuation to over €35 million.
Established in 2019, myTU currently caters to 50,000 retail customers, offering services such as individual and business accounts, payments-as-a-service, family banking, and a marketplace with loyalty features. The company has built a robust team of 25 and previously secured €6 million in funding to develop its proprietary core architecture and launch operations.
Raman Korneu, co-founder and CEO of myTU, remarked, “The fintech landscape is evolving. Securing funding has become more challenging, and achieving profitability is now a key indicator of success. This investment will enable us to scale sustainably and aim for profitability this year. Our technology equips us to efficiently serve millions of users with a streamlined team, setting us apart in the industry. We are committed to creating a banking platform that is not only digital-first but genuinely digital-native.”