- Digital banking platform myTU secures €10M in Series A funding, exceeding its original €9M target
- Investment led by existing shareholders increasing their stakes, alongside new strategic investors in payments and mobility
- Funds will support expansion into acquiring, lending, and preparations for a full banking license in Lithuania
- myTU expects to reach profitability in 2025
myTU, an AI-powered and cloud-first digital bank, has secured a €10 million Series A, surpassing its initial €9 million target in an oversubscribed round. The round was completed by existing shareholders increasing their stakes and two new strategic investors, both long-term business partners of myTU. This round values myTU at over €35 million, reflecting investor confidence in the company’s market position and future trajectory. myTU has chosen to continue without venture capital funding, maintaining a focus on sustainable growth.
Access to financial services remains uneven, particularly for underserved individuals and businesses. In Europe, more than 13 million adults lack access to basic banking, while many small businesses face high costs and limited options for financial services. The infrastructure supporting traditional banking remains costly and complex, limiting access to efficient and affordable solutions.
myTU addresses this gap by offering a fully automated, cloud-first digital banking platform, combining AI-driven financial services with remote onboarding and embedded payment solutions. The platform supports individual and business accounts, payments-as-a-service, family banking, and a marketplace with loyalty features. Built on proprietary core banking infrastructure, myTU is designed to serve high-growth markets efficiently, while keeping operational costs low.
Raman Korneu, co-founder and CEO of myTU, said: “The fintech landscape is shifting. 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. Our technology allows us to serve millions of users with a lean team, and this efficiency is what sets us apart. We are building a banking platform that is not just digital-first, but truly digital-native.”
myTU accomplished this with only €6 million in previous funding, demonstrating impressive capital efficiency. Backed by key business partners, this new €10 million raised will support product expansion, the development of acquiring and lending services, and regulatory preparations for securing a full banking license from the Bank of Lithuania. The company is on track to process over €1 billion in transactions by 2025, serving over 50,000 retail customers from 100+ nationalities and more than 200 businesses. In the next 12 months, myTU plans to scale its acquiring and lending capabilities, expand partnerships, and further strengthen its banking infrastructure.
Stay Ahead of the Financial Curve with Our Latest Fintech News Updates!
