EMI in Estonia, operating with Mastercard principal membership

About This Company

An operating Estonian electronic money institution (EMI) is offered for sale, either as a full acquisition or as a strategic partnership. The seller would consider offers for 100% of the company, and equally a partial investment or a joint venture. The Atlas lists it as an electronic money institution operating licence from Finantsinspektsioon under the Payment Institutions and E-money Institutions Act, passportable across the EU/EEA. Main assets, as the seller lists them: its own IBAN range, a core banking system built in house, and card issuing directly as a Mastercard principal member. A mobile-first banking app for a young audience is live, with strong engagement, long session times and a low cost of acquiring users, the seller reports. Subscriptions, card fees and transaction charges bring in the revenue, and the app carries embedded finance features. Targets for the end of 2026 are EUR 150K in monthly recurring revenue and 500K users. Burn rate is undisclosed; the seller calls it typical of a growth-stage fintech and mentions a raise of about EUR 2.5M. SWIFT access is indirect, through a correspondent bank and a BIC that is not directly connected. SEPA participation is indirect for now, registered in STEP2 for standard and instant credit transfers, with approval already given to join directly in Q3 2026. IBANs come from an Estonian range with an Estonian identifier, neither sponsored nor virtual. Euro is live, and the infrastructure is ready for further currencies. Cards are issued digital first, usable in major mobile wallets and processed directly with the scheme. Mastercard is said to count the company among its most preferred customers. Technology is fully proprietary and spans ledger, accounts, payments and front end, with payment routing, onboarding and AML/KYC built in and no banking-as-a-service dependence. Described as a vertically integrated neobank, the company is set, the owners say, to move from EMI status to a full banking licence within the next year. On ownership change, the Atlas notes that reaching or crossing 10%, 20%, 30% or 50% of share capital or voting rights in an Estonian EMI, whether by acquiring or increasing a qualifying holding, requires the regulator's prior approval. New applications are decided within 3 months of complete documents, and at the latest 6 months after first receipt.