PayRay, a Vilnius-based company that began operating as a bank in October after obtaining a commercial banking license, has commenced offering loans and factoring services to businesses in Latvia, with plans to add other lending solutions in the future.
"In that market, we see many similarities with Lithuania. For example, the structure of the small and medium business segment is very similar in both countries," Renato La Fianza, CEO of PayRay Bank, said on October 22. The company said it is considering expanding into other markets, too.
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