PayRay Bank UAB

PayRay Bank UAB is a Lithuanian specialized bank focused on financing businesses, particularly small and medium-sized enterprises (SMEs). The company evolved from a non-bank financial institution into a licensed specialized bank and operates in the banking and financial services industry, providing factoring, business loans, and deposit products.

Company Overview

Legal name: PayRay Bank UAB
Founding date: 2018 (as UAB "PayRay"); became a licensed specialized bank in 2020
Headquarters: Vilnius, Lithuania
Industry sector: Banking and financial services (specialized bank, SME financing)

Legal Information

Įmonės kodas (Company code): Not confirmed in publicly accessible sources used for this profile; please verify in the Lithuanian Register of Legal Entities (JAR).
PVM kodas (VAT code): Not confirmed in publicly accessible sources used for this profile; please verify with VMI (State Tax Inspectorate).
Official website: https://www.payray.lt
Email address: info@payray.lt (general/typical format for the company; please verify on the official website)
Registered office address: Vilnius, Lithuania (full street address not confirmed from sources used; see official website and the Register of Legal Entities for the exact address)
Registered office phone number: Not confirmed from sources used; see official website.

Note: Lithuanian banks and financial institutions publish definitive legal and contact details via the Register of Legal Entities (JAR), the Bank of Lithuania, and their official websites. Exact codes and phone numbers should be verified directly in those authoritative sources.

Business Operations

Main products and services:
- Factoring and invoice financing for businesses
- Business loans and working capital financing for SMEs
- Term deposits for individuals and companies (used to fund lending activities)
- Related advisory services for corporate clients

Business model: A specialized bank funding SME lending and factoring primarily through deposits and wholesale funding, leveraging risk management, credit underwriting expertise, and digital processes to speed up decisions and serve clients across Lithuania.

Market position: Positioned as an SME-focused specialized bank in Lithuania’s corporate finance niche, competing with traditional banks’ corporate divisions and dedicated alternative finance providers.

History

- 2018: PayRay was established as a non-bank financial institution in Vilnius, focusing on factoring and SME financing.
- 2020: The company received a specialized bank license (granted by the European Central Bank upon proposal from the Bank of Lithuania) and became PayRay Bank UAB.
- 2020–2021: Commenced operations as a specialized bank; expanded into deposit-taking, enabling broader funding for lending to business clients.
- 2022–2024: Continued product development in SME financing and deposit offerings; strengthened risk management and operational capabilities.

Note: Detailed milestone dates (product rollouts, portfolio sizes) are not fully consolidated in the sources used for this profile.

Financial Information

Revenue and financials: As a private specialized bank, detailed revenue figures are not comprehensively published in the sources used for this profile. Annual financial statements are typically filed in Lithuanian and can be accessed via the Bank of Lithuania or public registries.
Funding rounds: Not applicable in the traditional venture sense; as a bank, PayRay funds lending largely through deposits and institutional funding.
Ownership structure: PayRay Bank UAB is owned by private shareholders (specific shareholder list and percentages are not confirmed in the sources used for this profile). Ownership details can be verified through the Register of Legal Entities and the Bank of Lithuania disclosures.

Leadership and Management

Key executives (vadovai): Full names and positions are not comprehensively available in the sources used for this profile. Common roles at the bank include:
- Chief Executive Officer (Generalinis direktorius)
- Chief Financial Officer (Finansų direktorius)
- Chief Risk Officer (Rizikos valdymo vadovas)
- Head of Factoring / SME Lending (Faktoringo / Verslo finansavimo vadovas)
- Compliance Officer (Atitikties vadovas)

Board members: Specific board composition is not confirmed in the sources used; board member information can be obtained from Bank of Lithuania registers and the company’s official disclosures.

Office Locations

Registered office (buveinė): Vilnius, Lithuania (exact street address not confirmed from the sources used in this profile).
Other offices: No additional office locations confirmed in sources used.
Phone numbers: Not confirmed from public sources used; please refer to the official website.

Market Position

Competitors:
- Traditional banks serving corporate clients (e.g., Šiaulių bankas, Medicinos bankas, SEB, Swedbank)
- Specialized and alternative finance providers (e.g., SME Finance, Factris, Noviti Finance)
- International corporate banking providers active in Lithuania (e.g., OP Corporate Bank)

Market share: Not publicly available in consolidated form for specialized banks. PayRay competes within the SME financing segment rather than mass retail banking.
Competitive advantages: Focus on SME financing; faster decision-making; specialized factoring know-how; deposit funding base; alignment with Lithuanian regulatory framework for specialized banks.

Recent Developments

- Transitioned to a specialized bank license and broadened services to include deposits.
- Continued expansion in SME financing products, including factoring and working capital solutions.
- Ongoing digital process improvements for credit assessment and client onboarding.
Note: Specific recent news items (expansions, partnerships) were not confirmed in detail in the sources used for this profile; consult the official site and press releases for the latest updates.

Contact Information

Website: https://www.payray.lt
Email: info@payray.lt (please verify on the official website for current contact addresses)
Registered office address: Vilnius, Lithuania (exact street address should be verified on the company’s website or in the Register of Legal Entities)
Phone: Not confirmed in sources used; see official website.

Sources and References

- Bank of Lithuania (Lietuvos bankas): List of licensed banks and specialized banks in Lithuania. See the official website for PayRay Bank UAB’s licensing status and regulatory information: https://www.lb.lt
- PayRay Bank UAB official website: https://www.payray.lt (company overview, products, and contact details)
- Lithuanian Register of Legal Entities (Juridinių asmenų registras, JAR): https://www.registrucentras.lt (for official company code, VAT registration, registered office address, and management details)
- Rekvizitai.lt business directory: Search “PayRay Bank UAB” (for public listings of company code, VAT, and contacts; verify against official registers)

Verification note: For Lithuanian companies, legal identifiers (įmonės kodas, PVM kodas), full registered addresses, and official phone numbers should be confirmed directly in authoritative sources (Register of Legal Entities, Bank of Lithuania, and the company’s official website). This profile reflects information available from general sources and may require updates.