Fintech Farm, a UK-based fintech startup launched last year by Ukrainians Dmytro Dubilet, Alexander Vytiaz and Nick Bezkrovnyy, has raised $7.4 million to launch neobanks in eight countries during the next two years.
As reported by AIN.UA, Fintech Farm’s neobanks aim to attract large customer audiences with user-friendly mobile apps and accessible credit products. In Azerbaijan, where it launched in November 2021 under the brand ‘Leobank,’ Fintech Farm already issued some 100,000 cards.
The company now plans to enter eight new markets spread in Africa and Asia, partnering with local banks.
Fintech Farm’s round was led by Ukrainian Flyer One Ventures and Dutch Solid Ventures. Four other Ukrainian investors — AVentures Capital, Jiji Ventures, TA Ventures and U.Ventures — also took part in the deal.
Dmytro Dubilet is a figure of the Ukrainian startup scene. Back in 2017 he co-founded Monobank, which claims some 5 million clients.