Payward has signed a definitive agreement to acquire Saldo Finance Oy, the Finnish holding company that owns Lithuania-based Saldo Bank UAB, expanding Payward Banking with an EU banking license and a broader regulated footprint across Europe.
Saldo Bank is a digital-first specialized bank licensed in Lithuania with passporting rights across five European markets. The bank currently serves customers in Lithuania, Finland, Sweden, and Germany and holds a passport to operate in the Netherlands.
The acquisition is expected to significantly expand Payward Banking’s European capabilities. Subject to regulatory approvals, Payward plans to use Saldo Bank’s infrastructure to offer European clients interest-bearing deposits, lending products, card issuance, SEPA payments, SME lending, and banking-as-a-service capabilities.
Payward Banking has already originated more than $2 billion in loans and operates regulated financial infrastructure across multiple markets. Its existing capabilities include a Federal Reserve limited-purpose master account in the U.S. and an electronic money institution license granted by the Central Bank of Ireland.
Saldo Bank offers retail term deposits across each of its existing markets. Its lending operations include consumer loans in Lithuania, Finland, and Sweden, along with secured and unsecured SME lending in Lithuania and Finland.
The bank also operates a credit card product in Finland and expects to launch it in Sweden in 2027. Saldo provides full SEPA payments access and embedded lending services to other fintech companies in Finland and Germany.
Payward views the transaction as a major step in building out Payward Banking, which serves as the banking and money-management layer within the company’s broader financial infrastructure platform. Payward also provides infrastructure supporting Kraken and other products including NinjaTrader, Breakout, xStocks, and CF Benchmarks.
The transaction is subject to customary closing conditions and regulatory approvals and is expected to close in 2027. Following completion, Payward intends to combine its existing infrastructure with Saldo Bank’s European banking capabilities to offer customers a more integrated platform spanning deposits, payments, lending, trading, and other financial services.
KEY QUOTES:
“Payward Banking is not a new ambition – it is a business we have been building license by license, market by market. A regulated EU bank is the piece that lets us serve European clients the way a primary financial institution should: one place to hold assets, move them freely, and put them to work. We believe whoever owns that relationship earns the right to serve everything around it. We are starting in the EU, and the ambition is global.”
Arjun Sethi, Co-CEO Of Payward
“A banking license is only as valuable as what you build on top of it. Payward has spent years assembling regulated infrastructure across the US and Europe. Saldo Bank’s infrastructure was built to be Europe-wide, enabling innovative banking solutions including embedded services for other fintechs. Combining these capabilities with our five-market footprint means far more customers can access the full range of what both businesses offer – banking, payments, and lending in one place.”
Jarkko Mäensivu, President Of Saldo Bank
