EBV Finance – a Lithuanian-registered tax refund services providing company has joined the world-wide known Edenred group and is now expanding and establishing a new operations center in Lithuania.  

Members of the international family

At the beginning of this year, the Edenred group acquired the controlling shares of EBV Finance. The latter has also obtained the control of Edenred‘s subsidiary companies working in the same field. 

„Joining the world-wide known leader in payment solutions and innovations is a strategically important next step allowing us to expand in Europe, therefore improving services to our customers in Lithuania and other European countries“ – says Loreta Grekauskienė, Chief Operating Officer, EBV Finance. 

After finalizing the agreement with Edenred, it was decided to transfer the operations center of subsidiary companies to Lithuania. This move will allow the company to create additional workplaces. 

According to the COO of EBV Finance, the company is seeking to become a leader in the field – the biggest independent business offering fast VAT and excise duty refund services in Europe. Joining Edenred is opening the possibilities to take advantage of a broad customer base in the region and have access to the strategic international partners. 

„We are expanding our network in Europe centralizing our main operations center in Lithuania. This year we will be creating 40 new workplaces in our Vilnius office. The expansion is planned to continue in 2021“ – added L. Grekauskienė.

Successfully running for seven years already, EBV Finance is providing fast and standard VAT refunds as well as excise duty for European transport service companies that buy fuel and have other expenses abroad. The company refunds VAT from 31 European countries, and excise duty on diesel fuel from 7 European countries.

Loreta Grekauskienė, Chief Operating Officer, EBV Finance

Noticed the lithuanian innovativeness 

With this transaction, the Group is significantly strengthening its position in the segment and expanding its range of value-added services for international transportation companies in Europe.

„We were observing the development of EBV Finance in the market and saw its exceptional growth. The Lithuanian innovativeness and experience in the field of technologies are matching the Group‘s strategy of strengthening its offering of value-added services in the Fleet & Mobility Solutions segment“ – says Antoine Dumurgier, Chief Operating Officer, Fleet & Mobility Solutions at Edenred.

According to him, the transaction will enable Edenred to leverage not only scale effects and operating synergies, but also EBV Finance’s expertise and positioning in a buoyant market. 

Caring about clients and employees during the pandemic 

According to L. Grekauskienė, it is planned to instill new and innovative IT solutions, automise processes and offer new services, which will allow our clients to get their money back faster and more conveniently. 

“During the quarantine, our most popular service – fast VAT refunds – has been a great help for transportation companies allowing them to have working capital and to ensure an untroubled work during the unprecedented times,” said Chief Operations Officer, EBV Finance. 

Celebrating its ten years, Edenred Group has reduced its dividends by 20% and established a “More Than Ever” fund of €15 million dedicated to mitigate the consequences of the Covid-19 epidemic on its ecosystem. 

The fund was established to support employees in countries with little or no healthcare coverage. The rest of the funding is set out to support customers, who have been severely impacted by the economic consequences of the COVID-19. Edenred also supported logistic companies who carried on with their work during the quarantine period by providing sanitary equipment, protective masks, and disinfectants.

 

EBV Finance is the leading company in the Baltic region, that has an extensive experience in VAT and excise duty refunds from the EU countries as well as Switzerland, Norway and Liechtenstein. The professional team consists of experts of the European tax laws, therefore ensuring exceptional quality and speed in the provision of services. 

Edenred is a leading services and payments platform and the everyday companion for people at work, connecting 50 million employees and 2 million partner merchants in 46 countries via more than 850,000 corporate clients. Edenred offers specific-purpose payment solutions for food (meal vouchers), fleet and mobility (fuel cards, commuter vouchers), incentives (gift vouchers, employee engagement platforms) and corporate payments (virtual cards). In 2019, thanks to its global technology assets, the Group managed €31 billion in business volume. Edenred is listed on the Euronext Paris stock exchange and included in the following indices: CAC Next 20, FTSE4Good, DJSI Europe and MSCI Europe. For more information: www.edenred.com