Ukraine-based IT holding Fintech-IT Group, the developer behind the digital banking ecosystem mono, has secured a strategic investment from the Ukraine-Moldova American Enterprise Fund (UMAEF), propelling the company to a $1 billion valuation and achieving unicorn status — the first fintech unicorn from Ukraine.
- UMAEF, which also leads a consortium of American private investors co-investing alongside the Fund, becomes Fintech-IT Group’s first financial investor and only non-founding shareholder. A representative from UMAEF will join the company’s board.
- Founded by Oleg Gorokhovskyi and Mykhaylo Rogalskyi, Fintech-IT Group develops integrated software solutions for digital banking and powers monobank, Ukraine’s first neobank and second retail bank overall, serving nearly 10 million clients.
- Beyond monobank, Fintech-IT Group operates multiple tech products, including a marketplace called market by mono, a digital payment and tipping platform for restaurants Expirenza, monetization system for creators Base by mono, and Loyalty.ai, a loyalty program platform. The company also enables tens of thousands of SMEs in Ukraine to accept digital payments seamlessly.
"With this investment, UMAEF is expanding its existing portfolio of FinTech investments made through u.ventures, investing in a local leader launched and grown by best-in-class Ukrainian founders," said Jaroslawa Z. Johnson, President and Chief Executive Officer of UMAEF. "Fintech-IT Group is a striking example of this strategy, achieving outstanding results in Ukraine’s financial services sector, and leading in technological advancement and customer satisfaction."
- With the new funding, Fintech-IT Group plans to expand its product suite, including financing and business services for SMEs, strengthening its mission to deliver advanced digital banking solutions to millions of Ukrainians.
About UMAEF
Established by the US Congress in 1994, UMAEF has invested $190 million in 143 companies across Ukraine and Moldova, unlocking roughly $2.4 billion in capital and supporting over 27,000 jobs in the region.
The UMAEF investment in Fintech-IT Group signals Ukraine’s tech sector can attract high-profile international investors, supports potential global expansion, and shows innovation continues despite the war.
