By investing into this partnership, River Styxx Capital entered the Serbian market – which it sees as offering attractive growth prospects. The company's vision is to provide accessible and convenient financial services for the whole of Southeast Europe.

The Karanović & Nikolić team - led by Darko Jovanović, Ivan Nonković and Mina Srecković, performed the due diligence of Telenor Banka, as well as structuring of the transaction, drafting and negotiating the transaction documents.

Telenor established the online bank in Serbia in 2014. Telenor Banka signed more 300,000 customers to use its services – which include current and savings accounts, cash loans and credit cards. According to data from Serbia's National Bank​, it is the 25th largest bank in Serbia in terms of assets.

The strategic partnership with River Styxx Capital will support funding and further grow the business – which will be focused in the future on building new innovative services and growing their customer base. The company will continue to invest significant efforts and resources in order to maintain its leadership position – being the only Internet-based, mobile-first bank in Southeast Europe.