Lithuanian ArcaPay was acquired by London-based financial technology company Ebury

Lithuanian payments provider ArcaPay was acquired by financial technology company Ebury.

Based in Vilnius and founded in 2011 by Marius Bausys, ArcaPay offers B2B cross-border payment solutions and currency risk management services for small and medium-sized companies incorporated in the EU. ArcaPay has about 1.5K clients and offers its solutions in European countries.

Founded in London in 2009 by Juan Lobato and Salvador García, Ebury is a fintech company specializing in international payments, collections, and foreign exchange services. It offers foreign exchange activity in over 130 currencies, as well as cash management strategies, trade finance, and foreign exchange risk management.

According to Ebury's opinion, the deal will strengthen its position in the Baltic and Finnish markets, help existing clients grow in the region, and enhance its core international payment capabilities. The company has recently opened offices in Dublin and Stockholm and expanded into South Africa, New Zealand, Chile, and Mexico.