Latvian company Mobilly receives €4 million in development funding from Signet Bank

Signet Bank, a local Latvian bank, has granted €4 million in financing to Mobilly, a mobile payment solution developed in Latvia, supporting the company’s future growth and development of digital services.

Mobilly is one of the leading mobile payment solutions in Latvia, used on a daily basis to pay for parking, public and intercity transport, museum visits and other services. The funding will enable the company to continue developing secure, user-friendly cashless payment solutions.

We at Mobilly highly appreciate the responsiveness, quick reaction and ability of Signet Bank’s specialists to adapt solutions to customer needs. The implementation process was excellent, professional and fast,

comments Valdis Bergs, Chairman of the Board of Mobilly.

By supporting companies with a clear vision and sustainable growth potential, we promote both innovation and the competitiveness of local businesses. Mobilly is one of the most striking examples of how a local technology company can create solutions that have become an essential part of everyday life for hundreds of thousands of people. We are confident that Mobilly will continue its innovative development and that the financing provided by Signet Bank will enable the company to realize its ambitions in the Baltics,

says Roberts Idelsons, CEO of Signet Bank.

About Mobilly:
Mobilly is the most convenient and user-friendly payment system, which makes everyday life easier for more than 500,000 people and allows mobile phone users to make payments anywhere where mobile communications are available. With Mobilly, you can pay for parking, entry fees in Jūrmala, purchase Riga public transport tickets, pay for electric car charging, purchase train and bus tickets, make donations, and pay for other goods and services. Mobilly also offers cooperation to companies so that their employees can take advantage of the benefits provided by the payment system.

About Signet Bank:
Signet Bank is Latvia’s leading investment bank, founded in 1991 and one of the first independent banks in Latvia. Signet Bank offers sustainable financing and investment solutions to local entrepreneurs and companies. Since 2021, Signet Bank has attracted additional financing of EUR 1 billion for more than 50 Latvian companies through bond and share issues, while new lending transactions amounted to EUR 380 million. In 2024, the financial resources under management reached EUR 1.6 billion. Signet Bank is the leading organizer of corporate bond and share issues in Latvia and one of the leading stock exchange brokers in the Baltics. Signet Bank’s shareholders are eighteen Latvian and international private investors, the largest of which are Signet Acquisition III (22%), whose sole shareholder is US investor Alexander Solovey, SIA Reglink (14%), founded by banking professional Irīna Pīgozne, and AS RIT Group (11%), a Latvian company owned by the Rapoport family.