Ivan Zhiznevskiy, co-founder and CEO, and Eugene Dugaev, co-founder and chief technology officer, of the payments startup 3S Money, have expansion plans. Photo: 3S Money

Ivan Zhiznevskiy, co-founder and CEO, and Eugene Dugaev, co-founder and chief technology officer, of the payments startup 3S Money, have expansion plans. Photo: 3S Money

The London-based fintech 3S Money announced on Monday that it had obtained a Luxembourg licence as an electronic money institution. The aim is to conquer the European corporate payment market.

“As we wanted to expand our financial services offering, Luxembourg was the ideal destination to become our European headquarters. This is a very important step in our mission to break down the barriers that prevent businesses from growing globally,” the firm stated.

Having set up at the Luxembourg House of Financial Technology in 2020, 3S Money became the twelfth company to be licensed as an e-money institution in Luxembourg. They will now be able to offer European businesses--the fintech sells B2B solutions--its technology that enables borderless payments in more than 190 countries, faster than traditional banks, the fintech promises.

In 2021, 3S Money posted a profit for the first time, almost €45,000 on a turnover of roughly €3.5m. The fintech--launched in 2018--has offices in London, Luxembourg, Dubai and Latvia.

Read the original French version of this article on the site

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