Leading fintech companies in Ukraine in 2021

PaySpace Magazine Global now introduces the best fintech players in Ukraine

fintech Ukraine

Leading fintech companies in Ukraine in 2021. Source:

Ukraine has become a hotbed for fintech innovators recently with the Ministry of Digital Transformation support. It currently ranks 45 among 131 countries in the Global Innovation Index. According to the ongoing 5-year plan, the National Bank and legal agencies are going to develop and implement a regulatory “sandbox” for rapid testing of innovative projects as well as launch an academic base with a focus on open banking. In addition, the government-backed Ukrainian Startup Fund has introduced a grant program helping young tech teams to get their seed funding.

There are about 150 fintech companies in Ukraine. The most popular operating segments are: technology and infrastructure, payments and money transfer, mobile wallets, personal and consumer lending. About 52% of surveyed companies have already expanded to foreign markets though almost half of the Ukrainian fintech startups are less than three years old.


The most far-reaching fintech project in Ukraine is a cat-themed neobank. It’s been successfully operating since 2017 and has got over 4 million customers. It means that about 10% of the population are using Monobank services. The challenger bank offers debit accounts in UAH, USD and EUR, business accounts for self-employed, children’s bank accounts, overdraft features, deposits, savings, installments, P2P payments, generous cashback and a smart mobile app with gamification elements. Monobank founders have also launched a credit app called Koto in the UK. Its potential client base are people who are unable to get a loan from major British banks. Except for those with short credit history, these may be freelancers or self-employed, who have an irregular income.


IBox is a leading payment terminal provider in Ukraine. Since the use of cash still remains very common in the country (about 45% of all payments), payment terminals that allow cash payments are very popular. IBox’s online services are similar to those available in cash-accepting terminals. The company allows customers to transfer money between bank accounts, top up prepaid cards and mobile accounts, pay for utilities and transportation, pay off debts to various credit providers, pay taxes and fines, top up gaming and social media accounts, and more. One of the most popular services of IBox are commission-free cash deposits to Monobank accounts. The company’s payment terminals are present in over 8300 cities, towns and villages in Ukraine.


EasyPay is the largest non-banking operator of financial services in Ukraine. The service allows customers to pay for more than 3,500 services in cash at over 11,500 terminals throughout all Ukrainian regions, and by bank cards on the online portal EasyPay is also developing individual online payment solutions for businesses. The merchant payment system provides personal account options, payment return mechanics, reporting, transaction monitoring, payment notifications, investigating the reasons of transaction failures, etc. Over the first 10 years of its existence, more than 1,400 providers of various services have become EasyPay partners.


NovaPay is a financial service developed specifically for the largest logistics provider in Ukraine – Nova Poshta. Besides offering in-app and direct debit payments for Nova Poshta customers, the company provides a range of services to both individuals and businesses. Those include remittances in partnership with Western Union and Ria, instant cash transfers, bill payments, agent services for businesses via NovaPay brokerage, checkout solutions for marketplaces and e-commerce, cash withdrawals, mass cash payouts for businesses, payment on delivery, etc.

Wallet Factory

Wallet Factory is a fintech software developer, vendor and service provider that offers MFS Enabler platform for e-wallet businesses. MFS Enabler is an integrated framework providing companies with a personalised admin platform and mobile wallet apps. The solution is deployed in 2-3 months with the Wallet Factory team full end-to-end assistance (technical, business development, negotiations, setting up revenue streams). The company operates in 12 countries catering for telecom, retail, fuel retail, postal services, banks, e-commerce, FMCG, and microfinance segments.


Kuna is the first crypto exchange in Ukraine and the CIS region. The exchange reportedly serves over 300,000 users, having over 50,000 active traders. Kuna Fintech Limited, the service owner, is regulated by English law, and the company itself is certified in the UK. The platform offers over 30 trading pairs, accepting three fiat currencies (UAH, USD, and RUB). Users can deposit fiat via bank cards, QIWI wallet or using the proprietary Kuna Code tool. The tool generates a QR-code for both fiat and crypto transactions. Codes can be traded and validated conveniently via Telegram bot. The company is also developing UAX stablecoin pegged to Ukrainian hryvnia.


Moneyveo is a non-banking microfinance service offering quick loans to Ukrainians. The application process happens online, 24/7, and takes about 8 minutes. The credit may be given instantly. The application decision is fully automated. The company is a leader of microfinancing in the country. The total volume of loans provided currently equals 21 billion UAH. Moneyveo has about 1 million customers that use its services regularly.


Co-founded by Ukrainian Eugene Vyborov and Australian Anthony Venus, YayPay is headquartered in New York. It also has a London office, while the tech engineering team is based in Ukraine. The international company has rapidly grown to become a global team in Europe and North America, and was acquired by Quadient last year. Despite the change of ownership, the entire 60-person team of the startup remained with Quadient. YayPay is at the forefront of SaaS accounts receivable (AR) automation solutions. The solution provides a combination of automated invoice delivery paired with collections management, credit assessment, payment and cash application solutions, delivering a comprehensive cloud-based platform to more than 3,000 users globally. It combines real-time reporting with artificial intelligence to provide companies insight into future payer behavior and how it impacts their cash flow, helping them reduce write-offs and Days Sales Outstanding (DSOs).

Hotline Finance

Hotline is a leading online comparison tool in Ukraine. Its subdivision Hotline Finance allows users to compare insurance policies, loan products and credit card offers, and order them online via the proprietary marketplace. The service supports various payment methods including installments. The Hotline Finance Assistance virtual card gives 24/7 emergency support to drivers in Ukraine and Europe. It facilitates arrangements and payment for evacuation, wheel replacement, fuel delivery, engine start, etc.


NeoFin creates innovative credit and banking software products. Its ready-made solutions can facilitate financial activities of banks, retailers, lenders, telecom operators, medical institutions, real estate agencies, car sellers, and more. NeoFin’s unique fintech product is called NeoFin Core. It is a modular system that consists of about 20 various parts. Those include client verification, API for integration with partners, automatic blacklisting, AI scoring system, risk assessment, record tracking, customer service scenarios, portfolio management, loyalty program, customer dashboard, website constructor, marketing techniques, etc. The ready-made solutions are integrated with popular payment systems in Ukraine. NeoFin solutions have the maximum level of customisation without functionality restrictions. Thanks to the innovative IT approach, software products are developed and fully launched in very short terms. The young team has already successfully implemented over 20 projects.


Pay Space

6987 Posts 0 Comments

Our editorial team delivers daily news and insights on the global payment industry, covering fintech innovations, worldwide payment methods, and modern payment options.