The Ukrainian-founded, UK-based neobank company Fintech Farm has completed an extension of its Series B round, one year after after an initial $22 million capital injection.
The fintech secured $32 million in total in this round, which was co-led by Nordstar, a UK fund, and Bank of Georgia, a major, LSE-listed Georgian financial group.
The previous (Series A) round, in early 2022, had provided $7.4 million to the startup.
Fintech Farm creates digital banks in emerging markets — including Azerbaijan (since late 2021) and Vietnam (since March 2023). The company is now eyeing the Indian market, with plans to increase consumer access to credit, as reported by Sifted.
“There are some banking-as-a-service (BaaS) providers that give you a licence and infrastructure,” Fintech Farm’s co-founder, Dmytro Dubilet, told Sifted. ”But we have great technology — which we call ‘a neobank in a box’ — that covers everything you need to build a big and profitable digital bank.”
Dubilet is a figure of the Ukrainian startup scene. Back in 2017, he co-founded Monobank, which now claims some 7 million clients.
Fintech Farm’s co-founders in 2020 also included Oleksandr Vityaz and Nick Bezkrovnyy.
