Latvia's Printful and Printify Merge to Create Fyul, a New E-Commerce Powerhouse

A billion-dollar merger reshapes Latvia's tech scene. Meet Fyul—the new force combining Printful's scale with Printify's agility to dominate e-commerce.

, and Administrator

2026 May 17 . 10:02 AM

1 min read

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Latvia's Printful and Printify Merge to Create Fyul, a New E-Commerce Powerhouse

Two of Latvia’s biggest print-on-demand companies, Printful and Printify, have merged to form a new firm called Fyul. The name combines the last two letters of each company’s brand. The deal brings together two major players in e-commerce technology under a single leadership team. Printful, Latvia’s first unicorn, reached a valuation of over $1 billion in 2021. The company specialises in automated production and delivery of custom products for online stores. It operates seven global manufacturing sites and employs more than 2,000 people. In 2023, its revenue in Latvia alone hit €83.7 million.

Printify, meanwhile, allows sellers to offer custom products without upfront costs. The platform has processed over 60 million orders through a network of 85 printing partners worldwide. Its 2023 revenue in Latvia stood at €29.59 million, with profits of €1.13 million.

Under the merger, Alex Saltonstall, former CEO of Printful, will take the role of CEO at Fyul. Anastasia Oleinika, previously Printify’s CEO, will serve as President and Platform Lead. Both Printful and Printify will continue operating as separate brands under the new company.

The merger aims to strengthen Riga’s reputation as a tech and innovation hub. It also prepares the business for a potential stock market listing in the coming years. Fyul is set to become one of Latvia’s largest technology firms. The combined company will maintain both brands while expanding its global reach. The move positions Riga as a growing centre for business investment and digital innovation.