The Ukrainian-founded, UK-based neobank company Fintech Farm has completed a $22 million Series B round, AIN.Capital reported last week — the second capital injection in a bit more than one year, following a $7.4 million round in early 2022.
The new round was led by UK fund Nordstar with participation from Chrome Capital, whose General Partner, British citizen Alexander Savin, was a co-founder of Moscow-based PE fund Elbrus Capital. AIN suspiciously inquired about Savin’s Russian background and whether or not Chrome managed any Russian money, without finding anything compromising.
Fintech Farm creates digital banks in emerging markets — including Azerbaijan (since late 2021), Vietnam (since March 2023) and Nigeria (beta test), with plans to expand to new markets.
The company was launched in 2020 by Dmytro Dubilet, Oleksandr Vityaz and Nick Bezkrovnyy. Dubilet is a figure of the Ukrainian startup scene. Back in 2017, he co-founded Monobank, which now claims some 7 million clients.