Israeli fintech Fibonatix receives Latvijas Banka licence, marking a new Latvia–Israel fintech success story

Israeli-founded fintech company Fibonatix has reached an important milestone in Latvia, as SIA Fibonatix (LV) has received a licence from Latvijas Banka to operate as a payment institution. The licence allows the company to provide payment acceptance services to merchants, strengthening Latvia’s position as an attractive European base for fintech companies looking to grow across the Baltic region and wider European market.

The project is also a practical success story for Latvia’s investment attraction efforts. In the coming years, Fibonatix’s planned investment in Latvia may reach up to EUR 1 million, with an initial team of five employees expected to begin work in Riga. The company’s decision to develop its presence in Latvia highlights the country’s growing fintech ecosystem, open regulatory environment and strong professional support infrastructure.

“This licence marks an important milestone for Fibonatix and our continued growth in Latvia and the wider Baltic region. Thank you to the team at Latvijas Banka for their support throughout the process. Lielas lietas vēl priekšā!” said Tal Miller, CEO of Fibonatix.

The Investment and Development Agency of Latvia also extends its appreciation to the Sorainen team for their professional legal support in helping bring Fibonatix to Riga.

This achievement demonstrates how Latvia can serve as a trusted and competitive gateway for international fintech companies seeking regulated access to the European market, while creating new high-value jobs and strengthening Latvia–Israel business cooperation.