14 May 2024

Fintech Farm raises $32mn

Written By FinTech Alliance

Fintech Farm raises $32mn

Expanding its ‘neobank in a box’ model to India
 

In brief:

- The capital comes from an initial Series B round, which was led by London-based venture firm Nordstar, and an extension Series B round led by the London Stock Exchange-listed Bank of Georgia.

- The founding team comprises one of the founders of Ukrainian neobank Monobank Dmytro Dubilet, former KPMG M&A exec Nick Bezkrovnyy and Alexander Vityaz, the founder of cloud-based operating system provider Corezoid. The company previously raised a $7.4m round in 2022 led by Flyer One Ventures and Solid with participation from TA Ventures, Jiji, u.ventures and AVentures Capital. 

- Fintech Farm — which launched in 2020 — partners with medium-sized banks in emerging markets looking to build neobank apps but lacking digital know-how. Dubilet says the startup differs from other banking-as-a-service (BaaS) players, as it focuses on providing operational support rather than regulatory or infrastructure services.

 

What does this mean?

“There are some banking-as-a-service (BaaS) providers that give you a licence and infrastructure,” Dubilet tells 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.”

 

Read more here.

Up Next ...
28 May 2024

CEO of UK asset management firm, Abrdn, steps down.

Abrdn have today announced that group CEO, Stephen Bird, is ...

28 May 2024

Worldline Belgium-based study confirms digital transactions are greener than cash

Worldline has today published a landmark life cycle analysis study ...

28 May 2024

US Fintech boss reckons London to 'create a lot of new winners'

Simon Khalaf, chief executive of Nasdaq-listed card issuing firm Marqeta, told City A.M...

15 May 2024

Mexico based Aplazo Secures $70mn

QED Investors led the equity financing In brief:- The financing round ...

More in Banking

British Business Bank appoints Kristen McLeod CBE as Chief Strategy Officer

26 April 2024

Kristen joins the BBB from HM Treasury. In brief:- Kristen served ...

Posted By The Community

Targeting $180M in Revenue, Vault Aims to Lead the $50B Digital Crypto Banking Market

27 March 2024

Vault's approach of providing personalized, effective, and affordable white label solutions for digital and crypto banking has captured the interest of a diverse range of...

Written By: Vault

Santander evolves in-person bank format

27 March 2024

Tailors experience to meet customer needs.In brief:- Santander Bank, announced ...

NatWest invests in Icon Solutions

15 March 2024

NatWest has taken a minority stake in British payments technology ...

White Papers Banking

Consumer Banking Report 2024

29 February 2024

In the fourth iteration of EPAM's report, we surveyed 9,000 retail banking consumers evenly distribu...

White Papers Banking

Navigating the challenges of working with banks

12 June 2023

Banks and FinTechs are increasingly in need of each other. For incumbent banks, especially, the adop...

White Papers Banking

EPAM Continuum: Consumer Banking Report 2022

09 November 2022

EPAAM Continuum has released its third annual consumer banking report. Surveying 26,000 people...

White Papers Banking

How to Choose the Right Core Banking Provider: 5 Key Takeaways

03 March 2022

Market pressure, changing consumer expectations and rapid developments in technology; combined, thes...

There are no Events in this category