myTU, a Vilnius, Lithuania-based AI-powered and cloud-first digital bank, raised €10m in Series A funding.
The round, which valued myTU at over €35m, was completed by existing shareholders increasing their stakes and two new strategic investors, both long-term business partners of myTU.
The company intends to use the funds to acquire, lending, and preparations for a full banking license in Lithuania.
Founded in 2019 by Raman Korneu and Tomas Navickas, myTU is a fully automated, AI-powered and cloud-first digital bank offering financial services including payments-as-a-service, family banking, and a marketplace and loyalty system, all powered by its proprietary core banking platform.
With over 50,000 retail customers across 100+ nationalities and 200+ legal entities, myTU is on track to process over €1 billion in transactions by 2025. Its advanced tech stack allows it to serve millions of customers with a small team of just 25 people.
The company expects to reach profitability in 2025.
FinSMEs
04/03/2025