myTU, a digital bank based in Vilnius, Lithuania, successfully raised €10M in a Series A funding round, surpassing its €9M target. This funding will enable the bank to expand its product offerings and develop acquiring and lending services while preparing for a full banking license from the Bank of Lithuania. The company prioritizes sustainable growth over venture capital and anticipates reaching profitability by 2025, with aims of processing over €1B in transactions and serving a diverse customer base across various nationalities.
Funding is harder to secure, and profitability has become the real measure of success. With this investment, we are focused on scaling sustainably and reaching break-even this year.
myTU is developed using a proprietary core banking infrastructure, intended to serve high-growth markets efficiently while maintaining low operational costs.
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