LHV will provide Lightyear with real-time EUR payments and other banking services.

Lightyear was founded by ex-Wise duo Martin Sokk and Mihkel Aamer to give everyone in Europe seamless, low-cost access to global markets. Traditionally, if European investors want access to international markets, they get hit with transaction and custody fees, but most notably, hidden foreign exchange fees. Lightyear aims to bridge these gaps and lower the fees for international markets for customers.

LHV is the founding member and leader in instant EUR payments, processing 8% of the total Single Euro Payments Area (‘SEPA’) Instant transactions in Europe. The scheme processes the payments in seconds, regardless of the time or day throughout the year. Through offering a wide selection of banking services, LHV aims to become a one-stop shop for all banking needs of its fintech customers.

In addition to SEPA and SEPA Instant payments, LHV will offer Lightyear EUR safeguarding accounts, which separate client funds from the company’s. LHV will also provide EU operational accounts, designed to hold businesses’ operating funds, international SWIFT and payments in EEA currencies alongside virtual IBANs. This partnership powered the Lightyear’s recent pan-European launch.

In July, Lightyear announced a $25M Series A round, led by Lightspeed Venture Partners and Sir Richard Branson, to power its expansion into 19 new European countries, thereby becoming the first neobroker to unlock most of Europe in one move. With no trading, account and custody fees — charging a small 0.35% for FX — Lightyear entered most European countries as one of the most competitively priced investment platforms on the market.

Andres Kitter, CEO of LHV UK, said: “Lightyear is democratising access investing to retail traders. By utilising Lightyear’s commission-free investment platform, investors can bypass the traditional banks and web platforms, which charge high fees for stock trading.”

Mihkel Aamer, Co-founder and CTO at Lightyear, said: ”LHV is partnering with fintechs to innovate and build a better financial system for customers in Estonia and now across Europe. We share a similar approach to providing best-in-class customer experience — when it comes to payments and people’s money, it’s key to eliminate unnecessary delays & slow processing times. We’re excited to join forces with LHV to bring real-time EUR payments to investors across Europe.”