News

We invite you to check out our weekly selection of the TOP news about Lithuania:

The Vinted phenomenon: how one woman sold her clothes – and created a billion-dollar company (The Guardian)

In 2008, Milda Mitkute and a friend set up a website to clear out her closet. It soon grew exponentially. Now Vinted has 16 million UK users and is the first Lithuanian ‘unicorn’. Can it make secondhand our first choice?

How Lithuania Is Redrawing The Wellness Travel Map (Forbes)

Fresh off serving as European Capital of Culture in 2022, Lithuania is putting its best foot forward with a Harmony Within project to support its storied spa towns and regions. This initiative aligns with the nationwide efforts to “upcycle cultural history” and revive traditional linen craftsmanship. Here is how Lithuania is redrawing the wellness and lifestyle travel map.

What Was 2023 Like for Lithuanian Fintech Companies and What to Expect in 2024? (FintechBaltic)

In 2023, Lithuanian fintech companies provided payment services to 27 million customers across the European Union, i.e. one in ten Europeans. A survey of members of Fintech Hub LT, an association of licensed financial technology companies in Lithuania, shows that the number of profitable electronic money institutions (EMI) and payment institutions (PI) has been growing annually. This allows companies to create even more high value-added jobs. The member companies of the association employ almost 2 000 people, and more than 7 000 people are employed in the entire sector. The average gross salary of these employees is well above the national average, at EUR 3 889 in the member companies alone.

I'm a Brazilian who moved to Lithuania. I love the career opportunities and safety — but it can be hard to make friends (Business Insider)

This as-told-to essay is based on a conversation with Ricardo Sergio Schmitz, a consultant working in Vilnius, Lithuania. It has been edited for length and clarity.

Klaipėda University’s Biotech: EU Patent for Oil Spill Solution (Lithuania.lt)

The biotechnology developed by Dr. Marija Kataržytė and Dr. Tatjana Paulauskienė to counteract oil spills at sea has been granted a European Union (EU) patent by the “European Patent Office.”

See you next time!

Permanent Representation of Lithuania to the European Union