Ukraine's financial services market is celebrating another unicorn after Fintech-IT Group, the tech company behind the one of the country's most popular online banking service, received an investment to push its valuation beyond $1bn.
The investment came from the US-registered Ukraine-Moldova American Enterprise Fund (UMAEF).
The fintech's flagship product is its 'mono ecoystem', which serves as the IT backbone for Universal Bank which has become the second-largest in Ukraine less than eight years after launching.
“We are grateful to UMAEF for their trust and support," said Oleg Gorokhovskyi and Mykhailo Rogalskyi, co-founders of Fintech-IT Group.
"We believe this partnership opens new horizons for product and technology development that will bring even greater benefits to our customers. Most importantly, even during a full-scale war, a leading U.S. investor is ready to invest in Ukraine’s economy — and that is a powerful signal”.