Latvian Startup association will help fintech startups in cooperation with Rietumu Bank

The first event that will mark the beginning of successful cooperation between association and the bank is going to be in the spring of 2017. Rietumu FinTech Challenge 2017 will be great opportunity for fintech startups to get visibility and advices from industry experts. The participants will be mentored by bank and finance professionals as well as have a good opportunity to meet new partners, investors and pitch their ideas to judge panel.

Fintech is becoming more and more popular among startups. The main reason - it is hard to imagine our everyday life without fintech services. They can really make our life easier. Recent study by Latvian Alternative Financial Services Association shows that 20% of all residents in Latvia use at least one fintech service.

Goal of the Latvian Startup Association “StartinLV” is to boost local startups’ growth by ensuring favorable conditions for starting and growing business in Latvia. Association currently sees the opportunity and necessity to support fintech startups due to huge interest in the field. It is going to be possible now in cooperation with Rietumu Bank that has been active supporter of local fintech startup programs for already two years. The bank has taken part in FinTech Challenge - one-day mentoring and pitching competition for startups that develop fintech products and services - and FinTech Club – series of closed events for fintech community.

Member of Rietumu Bank Board Jevgenijs Djugajevs: “We are constantly cooperating with fintech startup companies. We have so much talent, original ideas and intellectual potential here in Latvia! They simply need partners that can help them develop. It is very important to be able to implement ideas, get professional advises as well as attract potential partner attention. Rietumu Bank has it all together with modern infrastructure that is open for different integrations. We are already partnering with startup companies that uses our platform to test and validate their ideas.”

Chairwoman of the Board of Latvian Startup association “StartinLV” Jekaterina Novicka: “Association and Rietumu bank is the perfect combination of expertise and ooportunity to provide positive impact on startup scene in Latvia. We see Rietumu Bank as a strong and reliable partner.”

About Latvian Startup Association “StartinLV”

Latvian Startup Association “StartinLV” stands for Latvian startup community that is built on common values and now has “voice” through the association. Organization also promotes Latvian startup scene, connects it to the world, foster mutual respect as well as represents its interests locally and globally.

About Rietumu Bank

Rietumu Bank is the leading private bank in Latvia that specializes in corporate banking and wealth management. It provides a complete spectrum of modern financial services, including client business organization by using modern technologies. Rietumu Bank is the organizer of the biggest international conference in e-commerce in the region - eCom21.

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