Who we are

We are a family of companies registered across the globe working together towards one common goal - to provide transparent, trustworthy and personalised financial services to those challenging the status quo.

We aim to enable our customers to do business in the new economy on a basis of earned trust. Enabling them to do business without borders - where decisions are based on choice and behaviour.

Our current territories/footprint stretches across the USA, United Kingdom, Estonia, and The Netherlands. Soon we will also be present in Canada and Australia… and that is only the start!

Once you have joined any of our family of companies you can enjoy the product set of all of them with the push of a button.

Our goal

The problem of trust in a fast moving, ever changing world marketplace is a thorny one. As technology connects businesses, consumers, governments and NGOs across the barriers of language and distance, it creates a world of unprecedented economic opportunity. It also significantly increases the risk and complexity of doing business.

What if we could insure that people, businesses, governments and NGOs from all across Europe and the world could do business with each other in an atmosphere of earned trust?

“Trust is like the air we breathe – when it’s present, nobody really notices; when it’s absent, everybody notices.” Warren Buffett - Warren Buffett.

Our strategy

We provide financial services through partnership with multiple licensed entities equally committed to meeting the highest standards of verification and compliance.
Different entities work in different regions for risk reduction and faster access to payment schemes.

We provide a wide range of services and intend to expand constantly, as customers in a community of earned trust deserve the highest quality of service.

Current products

PayPugs — An online payment solution for all. Putting you in charge of your finances, offering simple, clear and transparent solutions.
VelvetPlatform - your personalised collaboration and payments platform. Send and receive money for your work, sales and projects on your terms.

Family of companies

PayPugs Capital LLC US Exodus Services Group Inc. US PayPugs OU Estonia PayPugs IT SIA Latvia PayPugs Ltd UK PayPugs Fund Management BV Netherlands Holding Colorado Crypto Exception WA MSB License Nr. 550-MT-126155 Corporate & Trust Services License Nr. FIU000390 FCA Nr. 940962 / EMD agent Authorised Payment Institution Holding company Payment Institutions Back office (pending)
  • USA PayPugs Capital LLC Investment Entity / Card Services (US/Canada)
  • UK PayPugs Limited UK operations / FCA approved EMD agent
  • Estonia PayPugs OU Trust & Corporate services / Baltics Operations / Card Services
  • Netherlands PayPugs Fund Management BV EU payments / Authorised Payment Institution (pending)
  • Latvia PayPugs IT SIA IT & back-office support

Management Team

  • Alexander Zelinsky
    Alexander Zelinsky Chairman @ PayPugs Capital LLC
  • Alexander Lappo
    Alexander Lappo Group Strategic Manager
  • Igor "Garry" Gutarev
    Igor "Garry" Gutarev CEO & Member of Board
  • Agita Ceiko
    Agita Ceiko Member of Board
  • Vasiliy Ogromnov
    Vasiliy Ogromnov Chief Technology Officer
  • Jeannine van der Linden
    Jeannine van der Linden Chief Executive Officer
  • Bernie J Mitchel
    Bernie J Mitchel Managing Director UK
  • Jelena Shpolanska
    Jelena Shpolanska Chief Management Officer

Working together

We create our products based on what is needed by our clients with an eye to the future. We look at the structural problems our customers face and develop products based on their needs and way of working. As for our partnerships, we take an approach of collaboration and co-creation with companies aligned with our core values.

Related entities

  • USA

    Exodus Services Group

    USA payments / FinCEN approved MSB

  • USA

    Grumble Registered Agents Inc.

    Registered Agent Services

Key partners

  • Malta

    Papaya Ltd

    Payment Institutions