Latvian Mobile Payments Leader 'Mobilly' Secures €4 Million to Fuel Growth

Mobilly, one of Latvia’s most widely used mobile payment platforms, has secured a €4 million development financing package from Signet Bank, strengthening its position in the Baltic digital payments landscape.

The funding will support Mobilly’s continued growth and innovation as it expands its range of secure, user‑friendly cashless payment services. Mobilly’s platform already plays a significant role in everyday life for hundreds of thousands of users, enabling payments for parking, public and intercity transport tickets, museum entries, electric vehicle charging, train and bus tickets, donations, and a growing list of goods and services.

Mobilly’s leadership expressed appreciation for the quick and professional support provided by Signet Bank. This partnership reflects confidence in Mobilly’s strategy and its potential to expand further across the Baltic region and beyond.

Signet Bank’s involvement underscores the importance of financing solutions tailored to innovative local technology companies. By backing firms with clear growth potential and a strong user base, the bank aims to support sustained economic development and elevate Latvia’s profile in digital services.

As Mobilly prepares to scale its offerings and deliver even more value to users and partners, this injection of capital provides a solid foundation to accelerate product development, explore new market opportunities, and enhance the overall payment experience for consumers and businesses alike.

Mobilly’s latest funding round highlights the resilience and dynamism of Latvia’s fintech ecosystem as digital payment adoption continues to rise and more everyday services move toward cashless solutions.

To read more - https://www.baltictimes.com/latvian_company_mobilly_receives__4_million_in_development_funding_from_signet_bank/