Vilnius-based 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 – valuing the company at over €35 million.
The round was completed by existing shareholders increasing their stakes and two new strategic investors, both long-term business partners of myTU. myTU has chosen to continue without venture capital funding, maintaining a focus on sustainable growth.
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 was founded in 2019 by banking professional Raman Korneu and tech leader Tomas Navickas. With over 50k retail customers across 100+ nationalities and 200+ legal entities, myTU is on track to process over €1 billion in transactions by 2025. Its tech stack allows it to serve millions of customers with a team of just 25 people.
myTU is a fully automated, AI-powered and cloud-first digital bank offering smart, secure, and affordable financial services. myTU offers a variety of digital banking services with remote onboarding to both consumer clients and businesses, including payments-as-a-service, family banking, and a marketplace and loyalty system, all powered by its proprietary core banking platform.
According to myTU 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 – as per myTU.
myTU accomplished its goals with only €6 million in previous funding, demonstrating capital efficiency.
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 50k 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.
Read the orginal article: https://www.eu-startups.com/2025/03/no-vc-funding-mytu-raises-e10-million-for-a-digital-bank-thanks-to-shareholders-and-investors/
