Startup Wise Guys invested €30K in Lithuanian-based fintech Torus

In March 2023 Estonian accelerator Startup Wise Guys invested €30K in Lithuanian-based fintech Torus at a valuation of the startup of €6M. 

Torus was founded by Kirill Lisitsyn and Igor Volkov in Vilnius in 2021. It is a SaaS analytical product that helps banks and payment service providers increase their card payments business profitability. The company takes billing and transactional data from banks and payment service providers highlights inefficiencies and helps optimize them.

According to Torus, it helps its clients reduce up to 10% of costs on Visa and Mastercard card scheme fees and increase business profitability by 20–30%. The startup has customers in Poland, Cyprus, Italy, and Luxembourg. Currently, it is piloting its technology in Japan.

Estonian Startup Wise Guys accelerator invests in early-stage startups from Baltic countries, Central European, and African regions. It has invested in more than 350 startups and had 13 exits since 2012.