PayRay tripled its factoring portfolio last year

In 2019, Lithuanian financial sector company PayRay implemented its ambitious growth targets. The company, which provides services to small and medium-sized businesses, has more than tripled the value of its factoring portfolio to EUR 35.1 million and that of its microcredit portfolio to EUR 685,000. The company, which received its bank licence last year, expects […]

PayRay is preparing to become a bank: experienced professionals were selected to the Supervisory Board

PayRay, a Lithuanian financial sector company that provides business services, is preparing to expand its business following the receipt of a bank licence earlier this month. When PayRay becomes a bank, its Supervisory Board members will be professionals with many years of experience in banking and in other sectors: Gintautas Galvanauskas, Kęstutis Šliužas and Tomas […]

Financial company PayRay will become a bank

With the approval of the Bank of Lithuania, the European Central Bank has granted a banking licence, which allows to lend and accept deposits, to the quickly-growing financial company PayRay. This will allow PayRay, a provider of factoring services and microcredits, to further expand its range of services and to serve its clients even better. […]

Vilnius Factoring Company changes its name to PayRay

Vilnius Factoring Company, which provides services to small and medium-sized businesses, has changed its name to become PayRay. This move reflects the company’s strategic goals for the development of both its services and its area of operations. “More than a year ago, we started our activities in Lithuania and established ourselves as a factoring company. […]