Lithuania is a small but dynamic country in the heart of Europe, and it’s rapidly become a thriving hub for innovation and entrepreneurship. Over the past decade, its startup ecosystem has blossomed, supported by a strong economy, forward-thinking government policies and an increasingly educated workforce.
With a robust tech landscape and a growing number of investors eager to support new ventures, Lithuania has earned its place on the global stage as a breeding ground for unicorns.
The Lithuanian Economy and Startup Ecosystem
Lithuania’s economy has shown remarkable resilience and growth over the years, establishing itself as one of the most dynamic markets in the Baltic region. With a strong focus on technology, fintech and manufacturing, the country has become a key player in Europe’s digital economy.
The fintech sector, in particular, has flourished, with Lithuania now hosting the second-largest fintech hub in the EU after Brexit attracted financial firms seeking a new regulatory base. Cybersecurity, e-commerce and sustainable fashion are also thriving, driven by successful startups like Nord Security and Vinted, Lithuania’s two unicorns (privately owned companies valued at over $1 billion).
The country’s pro-business policies, low corporate taxes and skilled workforce make it an attractive destination for foreign investment. Looking ahead, Lithuania is expected to continue its steady GDP growth, supported by increasing exports, innovation and digitalisation.
As it continues to strengthen its green energy sector and deepens ties with global markets, Lithuania is well-positioned for long-term economic success.
Lithuania’s Two Unicorns
As of January 2025, Lithuania is home to two companies who have achieved unicorn status – Nord Security and Vinted.
Nord Security: $1.6 Billion
Based in Vilnius, Lithuania, Nord Security is one of the country’s most successful tech companies, having achieved unicorn status in 2022 with a valuation of over $1.6 billion. Founded in 2008, the company initially gained prominence with NordVPN, one of the world’s most popular virtual private networks, offering secure and private internet access to millions of users globally.
Beyond NordVPN, the company has expanded its product portfolio to include NordPass (a password manager), NordLocker (a cloud encryption service) and NordLayer (a business-oriented network security solution). These tools position Nord Security as a major player in the global cybersecurity market, addressing growing concerns about online privacy, data protection and digital security.
With Lithuania emerging as a hub for tech innovation, Nord Security stands as a prime example of how the country’s startup ecosystem fosters companies with global impact.
Vinted: $5.6 Billion
Vinted has become a complete game changer in the world of buying and selling second-hand fashion. Founded in 2008 and headquartered in Vilnius, Lithuania, Vinted operates as an online marketplace where users can trade pre-owned clothing, shoes, accessories, and more. With a mission to make second-hand fashion the first choice worldwide, the company has grown rapidly, expanding across Europe and beyond.
Vinted became Lithuania’s first unicorn in 2019, reaching a valuation of over $1 billion after securing significant investment. As of recent funding rounds, the company is now estimated to be worth an impressive $5.6 billion.
Unlike traditional e-commerce platforms, Vinted empowers individuals to buy and sell directly, promoting sustainable fashion by giving clothing a second life. The platform is widely used across markets such as France, Germany, the UK and the Netherlands, boasting tens of millions of users.
