- Lithuania-based regtech AMLYZE has forged a partnership with Vinted Pay, the payments division of European online marketplace for second-hand fashion and other goods, Vinted.
- Vinted Pay will use AMLYZE’s technology to provide real-time and retrospective transaction monitoring and customer risk assessment during onboarding and payment processes.
- Headquartered in Vilnius, Lithuania, AMLYZE made its Finovate debut at FinovateEurope 2024.
Lithuanian regtech AMLYZE announced a partnership with Vinted Pay, the payments subsidiary of European online marketplace for second-hand items, Vinted. Vinted Pay will leverage AMLYZE’s technology for real-time and retrospective transaction monitoring and customer risk assessment to ensure that Vinted Pay’s onboarding and payment processes meet AML/CFT requirements.
A leading second-hand fashion marketplace in Europe and a self-described “go-to destination for all kinds of pre-loved items,” Lithuania’s Vinted offers an online platform that connects millions of members across more than 20 markets. Founded in 2008, Vinted became the country’s first unicorn in 2019, and reached a valuation of more than €5 billion with a €340 million fundraising round in October 2024. That same year, the company reported a boost in net profits of 330%, exceeding €76 million.
“We are proud to partner with Vinted, a key player in the online marketplace industry,” AMLYZE CEO and Co-Founder Gabrielius Erikas Bilkštys said. “Now that Vinted Pay has successfully joined our platform, our advanced solutions will support Vinted Pay in maintaining strict compliance standards, including during onboarding processes, ensuring it continues to be a safe and trusted platform for its users. This collaboration underlines our commitment to providing world-class AML/CFT services and improving the prevention of financial crime across Europe.”
Launched in 2023, Vinted Pay is the latest initiative from Vinted, and is part of the company’s strategy to provide buyers and sellers across Europe with a secure, reliable payment option. Integrated into the Vinted App, Vinted Pay will ensure that members have access to safe, efficient, and easy online transactions with the platform. Members will be able to use Vinted Pay to shop for second-hand merchandise on the Vinted platform or, as Vinted recently announced, to enable members to transfer funds from sales to a secure digital account. These funds can be used to make purchases on the Vinted platform or withdrawn to a personal bank account outside of Vinted.
“Vinted Pay is dedicated to providing a safe and reliable payment experience for our community,” Vinted VP of Payments Modestas Tursa said. “The expertise and innovative technology of AMLYZE helps ensure we continue to foster trust within our platform as we gradually introduce and scale Vinted Pay across markets.”
Founded in 2019 and headquartered in Lithuania, AMLYZE made its Finovate debut at FinovateEurope 2024. At the conference, the company demonstrated its anti-financial crime information sharing framework that leverages synthetic data to facilitate AI model training, testing of automated monitoring solutions, and more.
Photo by Gantas Vaičiulėnas on Unsplash
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