Supporting Growth and Innovation in Digital Payments

Signet Bank has committed €4 million in financing to Mobilly, a Latvia-based developer of mobile payment solutions. This investment is intended to fuel Mobilly’s continued expansion and the development of new digital services, bolstering its position in the Baltic market.

Mobilly’s platform currently facilitates cashless payments⁢ for a variety of ​everyday services, including parking, ​public transportation ⁤(both local and intercity), and access to cultural institutions like museums. The company emphasizes its commitment to secure and user-friendly payment ⁢experiences.

Strong Financial Performance Drives Investment

The​ financing comes on ‍the heels of a strong financial year for ‍Mobilly. In 2024, the information technology company ⁤SIA⁣ “Mobilly” reported a turnover of €4.169 million, representing ‍a 40.3% increase compared to the ⁣previous ⁣year. Notably, the company’s profit surged,‌ increasing 4.3 times to reach €850,088.

This ample growth underscores the increasing⁤ adoption of mobile⁢ payment solutions in Latvia⁢ and the broader region.

Positive Feedback from Mobilly ⁤and Signet Bank

Valdis bergs, Chairman of the Board of Mobilly, ⁢praised signet Bank’s responsiveness and adaptability​ throughout the financing process, describing it as “excellent, professional and fast.” Roberts Idelsons,Chairman of the Bank’s Board at Signet Bank,highlighted​ the bank’s strategy of supporting innovative companies with strong growth potential.

Idelsons stated that Mobilly exemplifies how a local technology firm can create solutions that become essential to daily life for hundreds of thousands ⁣of people, expressing confidence in the company’s continued ‍innovation with the support ⁢of‍ the new financing.