“Can a fully automated, AI-native Lithuanian neobank build principal-level Visa/Mastercard infrastructure and a full banking license to become an embedded financial services platform for underserved consumers and businesses across the EEA?”
Founded in 2019 as UAB Travel Union, myTU positioned itself as a fully automated, AI-native, cloud-first digital bank targeting underserved individuals and businesses in the EEA. The company progressively expanded from consumer digital banking to B2B payments-as-a-service with its Payouts API, and then pursued principal membership with Visa and Mastercard acquiring licenses — a trajectory toward becoming a full-stack banking infrastructure provider. With its March 2025 Series A, myTU is now preparing to enter lending and merchant acquiring while seeking a full banking license in Lithuania.
Mytu discloses UAB Travel Union (in-house) as its banking provider, according to the Embedded Finance Index 2026.
Mytu does not disclose a bank charter of its own; its banking services are provided through UAB Travel Union (in-house).
Mytu processes payments through Nets (issuer services), Visa Direct and Mastercard Cross-Border Services. Disclosed money-movement rails: Visa Direct.
Mytu's cards are issued through Nets.
Mytu uses Visa Direct and Mastercard Cross-Border Services for FX and cross-border payouts.
The Embedded Finance Index 2026 maps 5 layers in Mytu's stack: Payments / PSP (Nets (issuer services), Visa Direct and Mastercard Cross-Border Services); Money movement (Visa Direct); Banking / BaaS (UAB Travel Union (in-house)); Card issuing (Nets); FX & payouts (Visa Direct and Mastercard Cross-Border Services).
Mytu was founded by Raman Korneu and Tomas Navickas and is founded in 2019, headquartered in Vilnius, Lithuania.
Mytu has raised €10M+ in total (latest round: Series A, March 2025; valuation: €35M post-money (2025)).
Get a read on where your own stack stands against Mytu and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.