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8 min read

Case for all-in

Case for all-in
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Lithuania Tech Weekly #222
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work in progress

  • Bankera has been investigated by 15min – and the details surfaced are not pretty (more than $100m raised with ICO). Interesting to see how Bankera tries to counterattack, just going after whatever they can find (mostly irrelevant stuff), but failing to deny key allegations on wasted funds.
  • Consumer, although we rarely talk about it through that lens. LT is yet to be found by Sequoia or Atomico, and we did not have Forerunner or Heartcore deals either. Lightspeed and EQT were lucky to back Vinted, but let me just list consumer-first scale-ups (including some SMB, prosumer and gaming): Nord Security (number of products / brands), Vinted, Hostinger, Kilo Health (also multiple products and brands), Wargaming, Nordcurrent, Flo, CarVertical, Furniture1, Burga, Orbio World, Bored Panda, Eneba, Oberlo (exited), Sintra... This has partly been driven by superior distribution / customer acquisition skills, and we should expect a lot of future winners in this category – too many smart people around.
    • Landscape is evolving and I am keen to see new creative+media plays. Donatas from Billo is already seeing genAI content losing relevance as fast as it flooded our channels. What next? Media + Machines:
Media and Machines by Anu Atluru

sponsors

Cloudvisor [AWS partner dedicated to startups]
Hostinger [making online presence accessible to everyone worldwide, hiring]
PayPal [Global integrated payments solution]
Oxylabs [Step into the world of web data gathering]
VIALET [Business accounts for growth, hiring]
Presto Ventures [investing in startups – security, defense, aerospace]
15MIN Group [all the news you need to know]
Superangel [Pre-Seed, Seed and Series A for tech companies]

rounds and capital

three questions

Gajus Kuizinas, Co-founder and CTO, Contra

Contra just passed 1M users - what’s the origin story?

Long before Contra, I was a freelancer. In fact, the first money I ever made came from freelancing. As a young professional, I loved the freedom to choose the projects I worked on and the people I collaborated with. It gave me flexibility—and an almost limitless space to grow.

Eventually, I ran an agency where I hired many freelancers. We delivered projects for big brands like Universal, Tesco and Domino’s, powered by a network of talented individuals I could tap into for their unique skills. Those were some of the most fun and fulfilling years of my life—I traveled, made lifelong friends, and built real wealth. Contra is the natural extension of that journey. It’s my way of helping others create the same kind of career on their own terms—one that’s flexible, empowering, and deeply rewarding.

The experience of building Applaudience with Saulius Česnulevičius also had a lasting impact. The values we built that company on—trust, openness, hustle, mutual respect, and most importantly, joy in the shared mission—continue to shape how I approach everything today. They’ve become the foundation of Contra: how we work, how we build, and the standard we hold ourselves and our community to. Those same values are reflected in my relationship with my current cofounder, Ben Huffman, and in the culture we’ve nurtured across the team.

With AI exploding - what excites you most in consumer, social, or media space?

Now is an incredible time to be a creator. AI-native tools are enabling individuals to do what used to require an entire agency. On Contra, we’re seeing the most successful freelancers embracing tools like ChatGPT, Windsurf, Stable Diffusion, Runway, Canva, and more.

There’s also a growing trend of micro-tutorials—people sharing creative AI use cases and breaking down how they did it. It reminds me a lot of when I first started freelancing: uncertain, fast-moving, full of possibility. That environment gave me the chance to carve out a niche and launch my career.

My advice? Stay curious. Try every tool people are talking about. Share what you learn. Put yourself out there. There’s a huge wave of opportunity for those who lean in—and I’m excited to see the next generation of creators rise from this moment.

What’s your take on the Lithuanian/Baltic tech scene? Any ideas what would help to accelerate further?

There’s a lot of potential here. Every time I come back to Lithuania—which I do every year—I’m reminded of how good life is. The streets are lively, kids are playing outside, there’s always a BBQ or gathering happening on the weekend. The quality of life is genuinely high.

At the same time, we have to acknowledge that globally, the competition is intense. In many places, people are putting in long hours—nights, weekends, constant travel—to build relationships and stay on top of trends. Social life is often tightly intertwined with professional ambition. People delay starting families, take fewer vacations, and are constantly in hustle mode.

Lithuania has a strong social fabric, which is incredibly valuable for wellbeing. But that comfort can also create inertia. If the goal is to truly compete on the global tech stage, more people need to be willing to step outside of that comfort zone and push themselves further.

That said, there are already world-class companies proving what’s possible—NordVPN, Vinted, Oxylabs, and my former cofounder Saulius Česnulevičius’s current company, Ovoko, are all great examples. They show that global ambition and local roots can go hand-in-hand. We just need more people to believe it’s possible—and go all in.

founder's guide

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