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Credit market professional Konstantinas Balakinas joins Paysera management team

Deputy CEO. Konstantinas Balakinas
Paysera, a leading financial technology company, has announced the appointment of a third deputy CEO. Konstantinas Balakinas, who has over 20 years of managerial experience in the financial sector, is taking up this position. The Bank of Lithuania has approved his candidacy.

Among the main responsibilities of K. Balakinas will be the development of a super app and the launch of a peer-to-peer lending platform.

"Our goal is to build a seamless, all-encompassing ecosystem that integrates both financial and non-financial services – a super app that caters to our clients' everyday needs. This year, we took a significant step towards this goal by integrating the InRento real estate investment platform. As I join the Paysera team, we are poised to expand our offerings further, incorporating more third-party services that will be readily accessible within the app itself" – says K. Balakinas.

The Bank of Lithuania has recently granted Paysera a peer-to-peer lending operator licence, enabling the company to expand its offerings.

"By leveraging my expertise in consumer credit, we aim to efficiently launch and manage peer-to-peer lending services for Paysera clients. This move will allow us to provide virtually all traditional banking services, such as money transfers, payment cards, and loans, while maintaining the agility and speed that sets fintech companies apart from traditional banks" – says K. Balakinas.

K. Balakinas has over 25 years of managerial experience in various financial institutions and associations. He spent a major part of his career in the consumer credit and leasing sector.

He held the position of Deputy CEO at Mokilizingas (now Inbank), and was one of the founders and long-time director of General Financing (now GENERAL FINANCING BANK). Moreover, K. Balakinas is a co-founder of Finco, an association uniting Lithuanian consumer credit companies. He was also a board member of Eurofinas, the European Consumer Credit Association.

K. Balakinas is a highly educated professional, holding a Master's degree in Law and a Master's degree in Business Administration from Vilnius University. To further enhance his expertise, he recently completed executive studies at the renowned BMI Executive Institute. Additionally, he obtained a second Master's degree in Business Administration from Vytautas Magnus University.

"Konstantinas' extensive experience and profound insights into consumer credit and financial markets will be invaluable to our company. His expertise will enable us to bolster our presence in international markets and explore new opportunities for growth" – says Marijus Plančiūnas, CEO of Paysera.

In addition to K. Balakinas, the Paysera management team also includes Deputy CEOs Žydrūnė Putelytė and Dr. Justina Šidlauskienė.

Historically, Paysera is the first electronic money institution (EMI) in Lithuania. According to the latest data from the Bank of Lithuania, it is the largest EMI in Lithuania, both in terms of total payment transactions and the amount of money held by clients in their accounts.

About Paysera

Founded in 2004 in Vilnius, Lithuania, Paysera is a financial technology company that offers more than 100 ways for European online stores to accept payments from buyers for their purchases. Paysera also provides services such as accounts, transfers, currency exchange, gold trading, and others.