Lithuanian 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. The company shared the news with AIN.
About myTU
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myTU is a Vilnius-based fully automated, AI-powered and cloud-first digital bank. founded in 2019 by banking expert Raman Korneu and tech leader Tomas Navickas. The company offers smart, secure, and affordable financial services.
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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.
"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," says Raman Korneu, co-founder and CEO of myTU.
Investment details
New funding round values myTU at over €35 million. myTU has chosen to continue without venture capital funding, maintaining a focus on sustainable growth.
The new funding 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.
