Key Takeaways
- • ECM Partners acquires 50% stake in Limassol-based payments fintech payabl. in a transaction valued at over €100 million, representing one of Cyprus's largest fintech deals by value.
- • Ugne Buračienė, payabl.'s Group CEO, retains the remaining 50% equity stake and continues leading the company post-transaction.
- • Under Buračienė's leadership, payabl. has achieved triple-digit revenue growth, expanded headcount tenfold, and secured two EMI (Electronic Money Institution) licenses.
- • The company operates a diversified payments platform serving major retail brokerage clients including XM and eToro, offering payment processing, FX solutions, and digital asset on- and off-ramps.
- • The deal signals institutional capital consolidation within Cyprus's maturing fintech ecosystem, transitioning from founder-operated ventures toward professionally managed, PE-backed enterprises.
Summary
ECM Partners has agreed to acquire a 50% equity stake in payabl., a Limassol-based payments technology company, in a transaction exceeding €100 million. The deal ranks among the largest fintech transactions recorded in Cyprus by transaction value and marks a significant institutional investment into the regional payments infrastructure sector.
Ugne Buračienė will retain ownership of the remaining 50% stake and maintain her position as Group CEO, ensuring continuity in strategic direction and operational leadership. This 50-50 ownership structure positions the company as a partnership between private equity capital and experienced fintech management, a common model in growth-stage payments companies seeking expansion capital while preserving founder influence.
Payabl. operates as a comprehensive payment solutions provider, with particular strength in the retail brokerage and foreign exchange verticals. The company delivers payment processing and gateway services, FX solutions, and digital asset on- and off-ramps. Its client roster includes major regional players such as XM and eToro, underscoring its established market position and revenue quality. During Buračienė's tenure, the firm has demonstrated substantial operational scaling—achieving triple-digit revenue growth, expanding its workforce tenfold, and obtaining two EMI licenses that enable cross-border payment processing across the European Economic Area.
The transaction reflects a broader maturation of Cyprus's fintech sector, which has progressively transitioned from founder-led startups toward institutional-grade enterprises backed by established private equity players. ECM Partners' investment in payabl. signals confidence in both the company's business model and Cyprus's position as a European fintech hub.
Ugne Buračienė will retain ownership of the remaining 50% stake and maintain her position as Group CEO, ensuring continuity in strategic direction and operational leadership. This 50-50 ownership structure positions the company as a partnership between private equity capital and experienced fintech management, a common model in growth-stage payments companies seeking expansion capital while preserving founder influence.
Payabl. operates as a comprehensive payment solutions provider, with particular strength in the retail brokerage and foreign exchange verticals. The company delivers payment processing and gateway services, FX solutions, and digital asset on- and off-ramps. Its client roster includes major regional players such as XM and eToro, underscoring its established market position and revenue quality. During Buračienė's tenure, the firm has demonstrated substantial operational scaling—achieving triple-digit revenue growth, expanding its workforce tenfold, and obtaining two EMI licenses that enable cross-border payment processing across the European Economic Area.
The transaction reflects a broader maturation of Cyprus's fintech sector, which has progressively transitioned from founder-led startups toward institutional-grade enterprises backed by established private equity players. ECM Partners' investment in payabl. signals confidence in both the company's business model and Cyprus's position as a European fintech hub.
Go deeper than the headline
Research every firm in this story, track the ones that matter and get the daily briefing — free for 7 days.