A new player is joining Luxembourg’s financial centre, as Riverty, the fintech arm of the Bertelsmann-owned Arvato Group, has obtained the necessary licences and authorisations to establish its banking operations in the Kirchberg district.
Riverty is expected to become operational in mid-July. In the meantime, renovation and fit-out works are underway in preparation for the opening, with the new offices located in the RTL Group building on Boulevard Pierre Frieden. According to the company, Riverty’s payment and loans division currently serves around 25 million clients and processes over 235 million transactions annually across Europe.
The company underwent a major consolidation in 2022, merging its former sub-brands – Afterpay, Paigo, and Aqount – under the new Riverty name. Riverty specialises in online payment solutions based on the "Buy now, pay later" model. The firm now employs approximately 3,500 people in 11 European countries. The Riverty Group is led by CEO Andreas Barth, while the newly designated head of Riverty Bank in Luxembourg is Oliver Kuhaupt.
The name Riverty combines the words "river" and "liberty", reflecting the company’s ambition to offer what it describes as a "natural financial flow" for its customers.
