International B2B (business-to-business - BNS) payment service provider "Hokodo" plans to open a branch in Vilnius.
In a few years, the company intends to employ 30 employees in Lithuania - credit analysts, payment operations and customer service specialists, software engineers, debt collection managers and financial specialists, the agency reported.Invest in Lithuania".
According to Richard Thornton, one of the founders and CEO of Hokodo, Lithuania met the important criteria for the company.
"We were looking for a European Union country where an internationally respected and recognized regulator would operate, because our clients' trust in us depends on it. We also wanted the regulator to have experience with fintech and new financial business models", R. Thornton said in the report.
The supply of local specialists, especially those with experience in anti-money laundering, compliance, credit risk, payment operations and other areas, was also important, he said, and people who knew European languages were also needed.
The "Hokodo" division in Lithuania will initially serve the company's customers in the markets of Central Europe, Northern and Baltic countries, but in the future, the possibility of expanding operations to all markets of the European Economic Area (EEA) is being considered.
Launched in 2018, Hokodo operates in Paris and London and provides services to clients in the United Kingdom, France, Germany, Belgium, the Netherlands and Spain.
The company recently acquired H Pay & Go, an electronic payments startup operating in Vilnius.
