Payward to acquire Saldo Bank and expand European banking

• Payward has agreed to acquire Saldo Finance Oy, gaining access to its Lithuanian bank subsidiary and European banking infrastructure.
• The deal could unlock deposit interest, lending, card issuance and payment services for European clients, subject to regulatory approval.
• The acquisition is expected to close in 2027, extending Payward Banking’s regulated financial services across Europe.

Payward, the parent company of Kraken, has agreed to acquire Saldo Finance Oy to expand its regulated banking services across Europe.

The deal covers Saldo Bank UAB, a Lithuanian-licensed digital bank operating in Lithuania, Finland, Sweden and Germany, with passporting rights in the Netherlands.

“Payward Banking is not a new ambition - it is a business we have been building license by license, market by market,” Payward Co-CEO Arjun Sethi said in a statement.

The acquisition could enable Payward to offer European customers interest-bearing deposits, lending products, card issuance and banking services for businesses, subject to regulatory approvals.

Saldo Bank offers term deposits across four European markets, consumer loans in three countries, SME lending in Lithuania and Finland, and full access to SEPA payments.

“A banking license is only as valuable as what you build on top of it,” according to Saldo Bank President Jarkko Mäensivu, highlighting the potential to combine the bank’s European infrastructure with Payward’s existing services.

Payward Banking has originated more than $2 billion in loans and holds regulated infrastructure in the United States and Europe, while Saldo Bank employed more than 90 people at the end of September 2026.

The transaction remains subject to customary closing conditions, including regulatory approvals, and is expected to close in 2027.