Ukrainian-founded Fintech Farm raises ＄22M, with the valuation possibly exceeding ＄100M
Summary
The Nordstar fund was the lead investor of the round, which was a combination of equity and convertible loan.Fintech Farm was founded by three Ukrainians Dmytro Dubilet, Oleksandr Vityaz, and Mykola Bezkrovny in 2020. Today, this project has almost 1 million active customers and has already turned a profit.Dmytro Dubilet and Oleg Horohovskyi (as well as several other co-founders) jointly launched Fintech Band and monobank. African marketplace Jiji and funds TA Ventures, u.ventures, AVentures Capital also participated.In March 2023, Fintech Farm launched Liobank in Vietnam, where Orient Commercial Joint Stock Bank (OCB) became the companys partner. The third market for Fintech Farm was Nigeria, where Fibo was launched in the beta stage, which so far only works in Lagos.The details of the dealThe lead investor of the deal is the Nordstar fund, which has headquarters in London. According to Dubilet, the company refused to cooperate with the funds, even if those managing the money of the trust LPs continued to invest in the Russian Federation after the start of the full-scale invasion.