New unicorn: mono Fintech-IT Group ecosystem developer receives investment from UMAEF fund — valued at over $1B

Ukrainian IT holding Fintech-IT Group, which developed the mono ecosystem, attracted investments from the Ukraine-Moldova American Enterprise Fund (UMAEF) valued at over $1 billion.

This was reported by the fund’s press service in a press release.

UMAEF, which reports to the US State Department, led a consortium of American private investors who joined the deal.

A representative of the fund will join the board of directors of Fintech-IT Group. The holding company was founded by Oleg Gorokhovskyi and Mykhailo Rogalskyi.

It includes the following companies:

• Fintech Band;

• Kbyte1024;

• Shake-to-Pay;

• AC DC Processing.

Fintech-IT Group is a software developer for Universal Bank JSC, which operates monobank.

As Mykhailo Rogalskyi told AIN, the funds raised will be invested in the mono product ecosystem, “primarily in the development of the marketplace and solutions for entrepreneurs.”

UMAEF President and CEO Yaroslava Z. Johnson emphasized that the investment is in line with the fund’s strategy of supporting technology leaders.

The holding’s co-founders, Gorokhovskyi and Rogalskyi, noted that the investment is an important signal for the entire Ukrainian economy.

About UMAEF

Ukraine-Moldova American Enterprise Fund (UMAEF) is a fund established by the US Congress in 1994 (formerly known as the Western NIS Enterprise Fund (WNISEF).

Its activities are aimed at supporting enterprises in Ukraine and Moldova that are of interest to American investors.

In over 30 years of operation, UMAEF has:

• invested $190 million in 143 companies;

• created over 27,000 jobs;

• opened access to $2.4 billion in capital for businesses in the region.

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