During the targeted inspection, the Bank of Lithuania assessed the company’s risk management, client funds protection, information provision, and internal control processes. Minor violations were identified during the inspection, most of which were promptly rectified during the assessment, and considering all circumstances, the central bank decided not to apply any enforcement measures.
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According to Vitalij Rakovski, head of Perlas Finance, continuous process improvement is an integral part of daily operations for companies operating in the financial sector, and its success is directly determined by a strong team. Over several years, the number of employees in the company has increased by almost 50 percent, and the accumulated expertise today allows confidently implementing ambitious development plans.
“Customer and partner trust is the most important foundation of our operations, so we pay great attention to ensuring that all processes meet the highest financial sector requirements. We view the inspection conducted by the Bank of Lithuania as an opportunity to reassess and strengthen our activities. By closely cooperating with the supervisory authority, we promptly implemented essential internal process improvements, so today we can focus entirely on further growth and the development of new services,” says V. Rakovski.
Intensive regional expansion
According to him, strengthening internal processes coincided with the company’s active expansion. In 2025, Perlas Finance’s revenues exceeded 15.2 million euros and were almost 11% higher than the previous year, and the growth rate remains similar in the first half of this year.
One of the company’s most important directions is the development of payment solutions for businesses, based on the Perlas Pay platform, which allows e-shops and other businesses to conveniently accept payments. According to V. Rakovski, the volume of monthly transactions processed on the Perlas Pay platform in August will be more than twice as high as at the beginning of the year, reaching 1 million transactions per month.
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“Along with growing demand, we are expanding operations across all Baltic countries. The Perlas Pay solution is already used by clients in Latvia and Estonia, including Latvia’s largest energy company, Latvenergo, and in Lithuania, more than 100,000 active users use our account payment app Perlas Go. We are also rapidly growing in Poland, where recurring monthly revenues have increased fivefold over the past twelve months,” says the company head.
According to him, the company continues to evaluate new expansion opportunities not only in the Baltic region but also in other European markets, including potential acquisitions, and the strengthened internal control system and growing business volumes provide a solid foundation for further growth.
“We aim for the payment solutions we create to be a reliable choice for businesses throughout the region. We see growing customer trust, so we consistently invest in both technology and compliance and risk management processes, which are essential conditions for long-term growth,” says V. Rakovski.
