EBRD partners with Swedbank to boost Lithuanian start-ups
Swedbank’s Lithuanian arm is partnering with the European Bank for Reconstruction and Development (EBRD) and Start-up Wise Guys, to boost the country’s fintech sector, reports Jane Connolly.
Together they have launched a new innovation hub called Rockit, which will foster fintech and tech-focused solutions with a view to Lithuania becoming a regional fintech leader.
Rockit succeeds Rise Vilnius, which was established by Barclays Group Operations Centre Lithuania and recently acquired by Swedbank.
The EBRD will offer access to operational facilities, early stage funding and mentoring, while Estonia-based B2B accelerator Start-up Wise Guys provides seed capital, office space and growth guidance.
This is the latest Lithuanian initiative for the EBRD, which has invested €877 million in 90 projects in the country since 1991.
