Led · Equity · Oct 2025

Fintech-IT Group is the umbrella entity behind several technology businesses, most notably FintechBand, which supplies the core banking infrastructure for Monobank. Monobank, launched in 2017, has become Ukraine’s biggest neobank and the nation’s second-largest retail bank overall, serving roughly 10 million customers—85 % of urban Ukrainians aged 15–35. The app lets users open accounts in minutes, make payments, obtain loans, and earn cashback, while also offering SME banking and e-commerce services. Despite rapid domestic growth, international expansion plans into markets with large Ukrainian diasporas (e.g., Poland, Romania, Czech Republic, Baltic states) are on hold due to wartime travel limits and the founders’ desire to remain in Ukraine. Russian attacks have forced the company to invest in generators, Starlink terminals, and additional cybersecurity measures to keep operations running. In April 2024 the group secured roughly $18 million from the Ukraine-Moldova American Enterprise Fund (UMAEF), pushing its valuation past $1 billion and making it Ukraine’s newest unicorn. A 2021 fundraising effort with a Goldman Sachs-led consortium collapsed, underscoring the difficulty of attracting capital during the conflict.