A specialist in deferred payments, debt collection and factoring, Riverty is seeking to establish itself as a fully regulated pan-European player. The firm currently serves more than 1,800 merchants and 25 million customers.
Oliver Kuhaupt, the fintech’s chief risk officer and incoming CEO of Riverty Bank, said: “With the banking license, we are taking direct responsability for risk, compliance and execution at scale.”
In an interview with Paperjam, Kuhaupt pointed to Luxembourg’s well-developed payments ecosystem, home to international giants such as Amazon, PayPal and eBay, as well as its deep pool of specialist talent as key factors behind the licensing decision.
