Maxima LT sells payments firm Sollo to sharpen retail focus
What's the deal? Maxima LTDealroom has a profile for this one. Try Dealroom → has sold SolloDealroom has a profile for this one. Try Dealroom →, a Lithuanian payments company it wholly owned, as the retailer narrows its focus to its core business. Sollo holds a payment institution licence from the Bank of LithuaniaDealroom has a profile for this one. Try Dealroom → and collects utility and other bill payments.
Why now? According to Giedrius Galdikas, head of communications and corporate relations at Maxima LT, the sale is tied to refining the company's direction and concentrating on its main activity — retail. Maxima LT had held 100% of Sollo's shares since February 6, 2025.
What changes for customers? Not much. Sollo's services are available across 237 Maxima stores in Lithuania via checkout terminals, and once the deal takes effect, payments for various services will continue as usual.
By the numbers: Sollo generated about €5 million in revenue in 2025, matching its 2024 figure. It employs nine people.
The signal: The divestment marks a familiar move for large retailers — shedding adjacent financial-services operations to double down on the core business. For Maxima, keeping bill-payment convenience in stores while handing off the licensed entity lets it stay lean without disrupting shoppers.
Read more: vz.lt
Image credit: CoCreatr
