The fintech holding behind Ukraine’s second-largest bank (Monobank), Fintech-IT Group becomes the country’s first fintech unicorn after an investment from Ukraine-Moldova American Enterprise Fund (UMAEF).
Fintech-IT Group, a leading developer of digital banking software in Ukraine and the creator of the Monobank ecosystem, has secured an investment from Ukraine-Moldova American Enterprise Fund (UMAEF) in a growth equity round.
Although the amount of the investment itself remains undisclosed, it propels the fintech group’s valuation to over $1 billion, signalling the emergence of the first fintech unicorn born in Ukraine on the global market.
Fintech-IT Group, founded by Oleg Gorokhovsky and Mykhailo Rogalsky, includes a few companies such as Fintech Band, Kilobyte1024, Shake-to-Pay, ACDC Processing, and several others.
The group provides software solutions for Universal Bank JSC under the Monobank project. In less than eight years, the bank has become the second-largest in Ukraine by the number of payment cards issued to individuals and entrepreneurs. Monobank also consistently ranks among the top 35 neobanks worldwide, according to CNBC. As of September 2025, the neobank serves 9.9 million clients and continues to hold the top Net Promoter Score (NPS) in Ukraine’s banking sector, earning numerous awards each year.
Fintech-IT Group’s technology also enables tens of thousands of small and medium-sized businesses across Ukraine to accept digital payments with ease, contributing to the growth of the country’s SME ecosystem. It offers a range of financial products empowering local businesses and individuals, including:
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market by mono — a marketplace connecting sellers and buyers with seamless BNPL access;
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Expirenza — a digital platform for payments, tipping, and restaurant menus;
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Base by mono — a monetization service for online creators;
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Loyalty.ai — a platform enabling partners to promote loyalty programs within banking apps.
“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.
UMAEF), formerly known as the Western NIS Enterprise Fund (WNISEF), was established by the U.S. Congress in 1994. Since its inception, UMAEF has received $150 million in U.S. government funding, unlocking access to approximately $2.4 billion in capital for Ukrainian and Moldovan businesses. The Fund has invested $190 million in 143 companies over 30 years of successful operations in Ukraine and Moldova. The organization is also known for sponsoring and launching Horizon Capital in 2006.
Fintech-IT Group co-founders Oleg Gorokhovsky and Mykhailo Rogalsky commented on this important milestone for the company and Ukrainian fintech in general:
“We are grateful to UMAEF for their trust and support. We believe their involvement will open new horizons for developing products and technologies that bring even greater benefits to our customers. Most importantly, this sends a strong signal that even amid a full-scale war, a leading American investor is ready to invest in Ukraine’s economy.”
