MakeCommerce will have a new CEO

MakeCommerce (Maksekeskus AS), the leading provider of payment solutions in the Baltic States, will have a new CEO. Ivars Erdmanis, the  Latvian country manager, will take over the role, while Art Lukas, the current CEO will continue on the company’s board.

MakeCommerce started active operations in Estonia ten years ago. Art Lukas has managed the company for the past seven years, during which the company has successfully expanded to the markets of Latvia and Lithuania, offering modern payment solutions and valuable additional services to merchants of all sizes. As a recent product development, MakeCommerce has started offering its customers payment terminals for brick-and-mortar stores, bringing both e-store and brick-and-mortar store payments under one roof.

“In the last 7 years, MakeCommerce has undergone tremendous development, growing from an early-stage start-up to a stable, profitable company,” said Art Lukas. “The company has teams in three countries, a strong owner from the banking sector, and in addition to the main markets mentioned, we also operate in Finland and Sweden.”

Art Lukas adds that while MakeCommerce/Maksekeskus was originally an Estonian-centric company, in recent years numerous growth opportunities have been found in Latvia and Lithuania. “That is why we have also brought people, who know these markets better, to the board level, and for the next stage of development, handing over the leadership reins to a long-term colleague, Ivars, supports the realization of these opportunities.”

Ivars Erdmanis, who has managed the Latvian operations of MakeCommerce for many years, is grateful for the new challenge. “I am proud of what we have achieved so far. We have a talented and dedicated team to offer our customers high-quality payment solutions and additional services, both in e-commerce and now also in brick-and-mortar stores. I am very much looking forward to leading MakeCommerce in the next phase of growth,” said Ivars Erdmanis, who will start as CEO of MakeCommerce on November 12.

In July this year, Luminor completed the transaction by which it acquired 99% of the shares of Maksekeskus AS. The partnership with Luminor enables the company to grow faster in foreign markets, primarily with the support of Luminor’s network and customer base in Latvia and Lithuania. MakeCommerce/Maksekeskus continues to operate as an independent company within the Luminor Group.