Simplex, an Israeli based company providing fraudless payment processing solutions worldwide, has just opened its new Lithuanian office. As part of an overall expansion plan, the company is looking to triple its current 25 strong Lithuanian team in the next three years.
Headquartered in Israel, Simplex processes credit card payments with a 100% guarantee which ensures that, in the event of a fraud chargeback, the merchant receives payment from Simplex. The company’s cutting-edge fraud prevention solution and proprietary state-of-the-art AI technology blocks fraudulent users and allows legitimate users to complete payments with ease. At present, its Lithuanian team is responsible for compliance, customer support, onboarding, account management, and fraud monitoring. And its new Vilnius office will continue to function as the backbone of the company’s day to day operations.
As part of Simplex’s ambitious growth strategy for the next three years, all of the Lithuanian operation’s current functions are to be expanded. Moreover, the company also plans to establish a new R&D group in Lithuania which will contribute to the company’s core product and help expand its growth potential.
This expansion is a vindication of the company’s choice to set up operations in Vilnius 2017 ahead of such competition as Luxemburg, Cyprus and the UK. As Nimrod Lehavi, CEO of the company explains: “After visiting Vilnius and meeting with Invest Lithuania we found a welcoming and innovative country, combining a can-do approach with complete professionalism. Today, nearly 2 years after setting up shop in Lithuania, this choice was definitely the right one”
Mr. Lehavi is positive in his evaluation of both the Fintech sector in Lithuania and the talent pool it has on offer: “Lithuania is not up-and-coming anymore, but rather one of the major global fintech hubs. We have been able to recruit excellent employees for every needed role, and one can say Simplex couldn’t have gotten to its current market leader position without establishing the Lithuanian site.”
Simplex has taken a proactive role in developing the local Fintech community. It is an active member of the FintechHub LT association and is partnering with local universities to offer students the opportunity to commence their career with the company.