Financial technologies - Ukraine Digital News

The Current Wave: New breed of Ukrainian tech entrepreneurs seek success in global markets, Part 5

From Kyiv, to Warsaw, to London, Ukrainian startups continue growing and raising funds

February 28, 2023

In yet another sign of resilience amid the war, at least five funding deals involving Ukrainian or Ukrainian-founded startups were reported in the course of February. Finmap landed €1 million in a round led by Polish-American venture fund Smok Ventures, a Warsaw, Poland-based fund. Launched in 2018 by Ukrainian entrepreneurs Ivan Kaunov and Oleksandr Solovei, Finmap is …

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Kyiv-based startup raises $2 million to help blockchain transaction originators keep their profit

February 16, 2023

Ukrainian DeFi startup Kolibrio has announced its first round of funding, having raised $2 million from a consortium of Web3 investors. Jump Crypto led the round, with participation from Delta Fund and Everstake Capital alongside unnamed individual investors. The company is developing a solution to help blockchain transaction originators “get ownership of the order flow they …

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Ukrainian startup Finmap nabs $1.2 million to help SMBs manage their cashflow

January 24, 2022

Last week Ukrainian startup Finmap announced the completion of $1.2 million round of funding, involving local and foreign investors. Launched in 2018, this startup has developed a cash flow management service — “simple and convenient for modern businesses, with accessible functionality and a user-friendly interface.” The solution “synchronizes with user accounts via API, allowing business owners …

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Ukrainian entrepreneurs prepare to launch neobanks in 8 countries

January 20, 2022

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 …

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Backed by 60 investors, this Ukrainian-founded startup wants to conquer the US banking industry

March 15, 2021

In November 2020 Upswot, an online banking solution provider founded by four Ukrainian entrepreneurs, brilliantly completed a Seed round of funding in the USA. Several institutional investors from this country, together with a plethora of business angels, brought $4.3 million to the startup, just 22 months after its inception. The deal was announced earlier this month by Upswot …

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Ukrainian facial recognition technology facilitates contactless biometrics and touchless payments

May 8, 2020

With the Covid-19 global pandemic still raging, there is new interest in contactless biometrics to authenticate consumers in retail, banking, travel and transportation and make easy touchless payments. In 2017, in Lviv (Western Ukraine), Yuriy Holuzynets and Stanislav Berdnyk co-founded fintech startup Riddletag for the purpose of helping companies better automate their business processes. Their goal was …

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China’s UnionPay comes to Ukraine, Japan’s JCB eyes local market

November 15, 2018

Chinese payment system UnionPay International, the world’s biggest payment system both in terms of cards issued and volume of operations, is entering the Ukrainian market, the National Bank of Ukraine (NBU) announced on Nov. 13. UnionPay International will provide services in Ukraine for issuing cash from ATMs and supporting payments for goods and services with UnionPay …

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Two US non-profits to support Ukrainian fintech startups

August 11, 2018

Village Capital is a Washington, D.C.-based non-profit venture capital firm focused on solving real-world problems. MetLife is a global provider of insurance, employee benefits and financial services. Its non-profit MetLife Foundation utilizes grantmaking to help low-to-moderate income families gain access to safe and affordable financial products and services. The two non-profits will host their first in …

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PrivatBank makes its online banking service Privat24 available to all

August 2, 2018

PrivatBank, Ukraine’s largest and innovation-friendly bank, has just rolled out an extended version of its Internet bank Privat24, making its services available to users of any bank around the world. Positioned as a “bank of a new generation,” Privat24 is still in beta mode. However, even now anyone can test the service using its trial website …

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Ukraine’s Financial Stability Council supports regulatory concept for cryptocurrencies

July 20, 2018

The Financial Stability Council of Ukraine has supported a concept for crypto regulations, Timur Khromaev, head of the National Securities and Stock Market Commission (SSMCS) reported in a Facebook post July 20. According to Khromaev, the concept involves recognizing cryptocurrencies and tokens as financial instruments, establishes the roles and functions of governmental bodies in regulating …

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bNesis secures €400,000 from Polish investors “to become the first Ukrainian-Polish fintech unicorn”

December 18, 2017

Earlier this month, two Polish investors — a group of venture capital funds SpeedUp and angel venture capital firm bValue — invested €400,000 in bNesis, a startup founded by a Ukrainian team. The news was reported by bNesis’ CEO Dmitriy Norenko on his Facebook page earlier this month. “The whole team will work hard to become the …

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New report highlights latest global e-commerce and e-payment trends

November 2, 2017

The Paypers, an international industry resource, has just released the 8th edition of its “Online Payments and Ecommerce Market Guide,” addressing the most important trends in the global market. In today’s e-commerce and payment market, both merchants and PSPs need more balance between security and convenience for consumers, as well as implementation of omnichannel payments and …

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