Fintech
“Neobank in a box” Fintech Farm startup raises $32 million
Fintech Farm, a London-based startup that helps banks in emerging markets launch fully digital neobanks, has raised $32 million in funding.
The investment includes an initial Series B round led by London-based venture capital firm Nordstar and a Series B extension round led by London Stock Exchange-listed Bank of Georgia.
Fintech Farm’s ‘neobank in a box’ service includes a range of operational apps for new challenger banks that include features such as debit and credit cards, buy now, pay later options, credit engines and equity investments.
Headquartered in London, the company was founded by three Ukrainian nationals, Dmytro Dubilet, co-founder of digital banking startup Monobank, IT head Oleksandr Vitiaz and former KPMG UK M&A director Nick Bezkrovnyy.
Fintech Farm’s first project, Leobank, was launched in 2021. To date, it has already acquired over 1 million active users. Other projects in the company’s portfolio include Liobank in Vietnam and Fibo in Nigeria.
Fintech Farm is now aiming at the Indian market, where the goal is to make credit more accessible to consumers. It already has a local banking partner, whose name was not revealed.