Crisis is a positive catalyst for Latvian fintech’s growth?

  • 2020-05-28
  • Renats Lokomets, Strategical Partner at Venture Faculty
Latvia just celebrated 30 years after declaring the restoration of independence, during all these years Latvia has continued to play a role of a financial bridge. Only the direction of routes has changed: in the first 20 years of independence, the money flow was from the East (Ex-Soviet Union countries) to the West. Today it goes through Latvia to the rest of the world. Development of the financial sector created a strong foundation for the current status of Latvian Fintech. More than 50 banks existed, now locally they are less than 20. Accumulated capital employed tens of thousands of bank...
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