Fractional CFO services in Vilnius
Vilnius is the fastest-growing tech city in the European Union according to Dealroom's 2025 rankings, and the 13th fastest in the world - a eurozone capital whose startup ecosystem has grown 39x in the last decade to a valuation exceeding €16 billion.
That growth is led by Vinted, the world's largest second-hand fashion marketplace at a €5B valuation, and Nord Security (NordVPN), Lithuania's second unicorn. The city's €600M in funding raised in 2024 alone - the highest year on record - demonstrates that Vilnius has moved decisively from an emerging market to a credible European tech capital.
We work with Vilnius-based startups from seed to Series B+, supporting them on unit economics, board packs, investor reporting, fundraise prep, equity/option grants and M&A readiness.
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Vilnius startup ecosystem
EU's fastest-growing tech city by Dealroom ranking
Dealroom's 2025 rankings placed Vilnius as the EU's fastest-growing tech city and 13th globally - a trajectory built on ecosystem value growth from €400M to €16B+ in a decade, driven by the Vinted and Nord 'mafia' effect: alumni from both companies have founded nearly 30 Lithuanian startups.
Marketplace, cybersecurity, fintech and clean energy lead
Vinted's €5B valuation makes it the largest consumer marketplace to emerge from the Baltic states. Nord Security's NordVPN and NordPass products have built a global cybersecurity brand from Vilnius. TransferGo (remittance fintech) and Eneba (digital goods marketplace) show depth across fintech and marketplace verticals. PVcase (solar plant design SaaS, acquired by Pexapark) demonstrates clean energy software leadership.
Vilnius Tech Park, Saulėtekis and Tech Zity
Vilnius Tech Park in Žirmūnai is the city's established tech campus - home to hundreds of startups and scaleups with subsidised office space and incubator programmes. Saulėtekis Science and Technology Park, adjacent to Vilnius University, houses deep tech and life science spinouts. Tech Zity, built on a Soviet-era sewing factory site in New Town, opened in 2024 with 5,000 workspaces and is positioning as Vilnius's next-generation tech campus.
Vilnius University and Kaunas University of Technology talent pipeline
Vilnius University's Faculty of Mathematics and Informatics and Kaunas University of Technology (KTU) produce computer science and engineering graduates that feed both Vilnius companies and the broader Baltic talent market. Lithuania's high numeracy and language proficiency - the majority of Lithuanian tech workers are fluent in English and often a third European language - makes Vilnius teams disproportionately effective at serving Western European customers.
Vilnius-built companies that reached global scale
These companies define Vilnius's standing as a genuine global tech capital - and the Vinted and Nord mafia effect has seeded nearly 30 additional Lithuanian startups through their alumni.
Vinted
Vinted is the world's largest C2C second-hand fashion marketplace, operating in 22 countries and valued at €5B after a €340M secondary transaction in October 2024. Founded in Vilnius in 2008 by Milda Mitkutė and Justas Janauskas, it is Lithuania's most valuable company and one of Europe's largest consumer marketplaces.
Nord Security (NordVPN)
Nord Security is a Vilnius-built cybersecurity company offering NordVPN, NordPass, NordLocker and NordLayer products to 15M+ users globally. Founded in 2012 by Tom Okmanas and Tomas Orentas, it reached unicorn status in 2022 and is one of the world's most recognisable cybersecurity consumer brands.
Tesonet
Tesonet is a Vilnius-based technology company and startup studio behind Nord Security, Oxylabs and other businesses. One of Lithuania's most significant venture builders - its subsidiary Oxylabs is a global leader in web data collection infrastructure, used by Fortune 500 companies.
TransferGo
TransferGo is a Vilnius-founded international money transfer and remittance platform targeting Eastern European migrant workers in Western Europe. Raised $100M+ and serves 5M+ customers in 160 countries - a strong example of Lithuanian fintech addressing an underserved cross-border corridor.
Eneba
Eneba is a Vilnius-founded digital goods marketplace for video game keys, software licences and prepaid cards, operating as the largest CEE-origin gaming marketplace with millions of active buyers. Raised growth capital and serves customers across 50+ countries.
PVcase
PVcase is a Vilnius-founded solar plant design and engineering SaaS platform that was acquired by Swiss energy software group Pexapark - one of Lithuania's notable clean-energy tech exits. Built in AutoCAD, it was used by solar developers to design utility-scale plants across 130+ countries before the acquisition.
Lithuania's government-led startup infrastructure
Startup Lithuania and its supporting institutions have built a lean but effective founder support infrastructure, with EU-backed loan programmes and a respected startup visa pathway that is attracting non-EU founders at increasing pace.
Startup Lithuania
Startup Lithuania is Lithuania's national startup development agency, administering the Lithuanian Startup Visa programme and providing market intelligence, ecosystem mapping and investor matchmaking for local and international founders. The Startup Visa process - one of the fastest in the EU - can be completed in under 30 days for qualifying teams.
Invega (Lithuanian Business Support Agency)
Invega is the state-backed Lithuanian Business Support Agency, providing soft loans, guarantees and co-investment alongside private VC funds for early-stage Lithuanian companies. Invega's JEREMIE fund programme has deployed hundreds of millions of euros into Lithuanian startups and growth companies since 2009 via the European structural funds.
Practica Capital
Practica Capital is Lithuania's most active seed VC fund, investing €300k–€2M in technology startups across the Baltic states with a strong Vilnius anchoring. Backed Vinted's early rounds and has built a portfolio of 60+ companies. Frequently co-invests with Contrarian Ventures and international seed funds on Baltic-founder deals.
Contrarian Ventures
Contrarian Ventures is a Vilnius-based VC fund investing in early-stage climate, energy and sustainability technology companies across Europe. Raised €100M+ and backs founders building in solar, EV infrastructure, energy storage and industrial decarbonisation - verticals where Lithuanian engineering talent has particular depth.
Open Circle Capital
Open Circle Capital is a Vilnius-based early-stage fund backing B2B SaaS and marketplace founders in Lithuania and across CEE. Invests at pre-seed and seed with a focus on founders targeting US and Northern European enterprise customers - the same markets that Vinted, Nord and Eneba have successfully penetrated.
TechPark Vilnius
TechPark Vilnius is Lithuania's largest innovation and technology hub, providing subsidised co-working, incubation and acceleration programmes for early-stage and growth-stage companies in Vilnius. Hosts the national Startup Fair and serves as the physical anchor of the Vilnius Tech Park community.
We provide fractional CFO services across Vilnius and beyond
Simple pricing
No hidden costs, no complicated long-term contracts. We understand how important flexibility is for Vilnius startups.
Per month
- Accounting / FP&A tech stack implementation
- Monthly financial statements and reporting pack
- Quarterly board pack with detailed financial analysis (with variance analysis vs. budget, relevant KPI observations etc.)
- Investor-friendly output
Per month
- Everything in Core, plus
- Operating model (via an online platform like Runway or Excel-based)
- Ongoing model maintenance, refining projections, burn/runway management
- Customer cohorts modelling, churn and retention analysis
- LTV / CAC, unit economics analysis
- Cap table management
Per month
- Everything in Grow, plus
- M&A / fundraising support; review of business plan
- Pitch deck preparation
- Investor approach strategy / list building
- Due diligence support and deal negotiation
- Valuation as required and free access to Multiples Pro
Packages shown are illustrative, final pricing is tailored to client requirements.
Recently completed fractional CFO projects
Selected fractional CFO engagements and prior CFO experience.
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