The Ukraine-Moldova American Enterprise Fund (UMAEF) has invested in Fintech-IT Group, a leading developer of digital banking software in Ukraine. This funding pushes the company to a $1 billion valuation, making it the country’s first FinTech unicorn. UMAEF joins founders Oleg Gorokhovskyi and Mykhaylo Rogalskyi as the first external financial investor, leading a consortium of American private investors alongside the Fund.

Fintech-IT Group Drives Ukraine’s Digital Banking Innovation

Fintech-IT Group powers monobank, Ukraine’s #1 neobank and second-largest retail bank overall. The platform serves 9.9 million clients and consistently maintains the highest NPS in Ukraine. CNBC recognized Monobank among the world’s top 250 FinTechs and top 35 global neobanks for two consecutive years.

Additionally, the company supports tens of thousands of SMEs in Ukraine with seamless digital payment solutions, strengthening the country’s SME ecosystem.

Strategic Investment by UMAEF

“UMAEF continues to expand its FinTech portfolio, supporting local leaders built by exceptional Ukrainian founders,” said Jaroslawa Z. Johnson, President and CEO of UMAEF. “Fintech-IT Group demonstrates technological excellence and customer satisfaction, reflecting Ukraine’s strong tech ecosystem.”

UMAEF, established by the U.S. Congress in 1994 with initial funding of $150 million, has a 30-year history of investing in Ukraine and Moldova. “Our investment in Fintech-IT Group highlights strong fundamentals, high growth, and U.S. partnerships with Visa and Mastercard,” said Dennis A. Johnson, UMAEF Board Chairman.

Next Steps for Fintech-IT Group

The growth equity funding will accelerate product development and expand offerings, including financing and business services for SMEs. Nearly 10 million Ukrainians using its digital banking solutions will benefit from these advancements.

UMAEF’s investment also lays the groundwork for potential IPO plans on a leading U.S. stock exchange and supports the opening of a U.S. office.

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News Source: Prnewswire.com