A milestone moment for Ukrainian fintech.
Oleh Horokhovskyi, co-founder of Fintech-IT Group, announced a landmark achievement: after eight years of development, the company — creator of the mono ecosystem — has attracted investment from the Ukraine-Moldova American Enterprise Fund (UMAEF) at a valuation of over $1 billion.
“I’m proud that despite the war and the difficult state of Ukraine’s economy, we’ve reached this point,” said Horokhovskyi. “This success wouldn’t be possible without our incredible team and the trust of our clients and partners who use the products developed by our IT company.”
Founded by Oleh Horokhovskyi and Mykhailo Rogalskyi, Fintech-IT Group has evolved from a small startup (Fintech Band) into a major IT holding that develops innovative technology solutions for banking, processing, e-commerce, hospitality, trade, and services.
Today, the holding includes companies such as Fintech Band, Kilobyte1024, Shake-to-Pay, ACDC Processing, and several others.
A Strategic Investment in Ukraine’s Leading Fintech
UMAEF, a Delaware-based corporation managed by experienced American professionals and overseen by the U.S. Department of State, leads a consortium of private U.S. investors who joined this round.
“With this investment, UMAEF expands its fintech portfolio by partnering with a leading Ukrainian-founded and built company,” said Yaroslava Z. Johnson, President and CEO of UMAEF.
“Fintech-IT Group exemplifies outstanding innovation and client satisfaction in Ukraine’s financial sector — proof of the strength and creativity of the Ukrainian IT ecosystem.”
A representative of UMAEF will join Fintech-IT Group’s Board of Directors.
About Fintech-IT Group
Fintech-IT Group is a Ukrainian technology company that creates integrated software solutions for digital banking and e-commerce. It is the key software provider for Universal Bank within the monobank project — Ukraine’s No. 1 neobank, serving 9.97 million clients.
Monobank consistently ranks among the world’s top 35 neobanks, according to CNBC.
The Group’s products include:
- market by mono – a marketplace connecting buyers and sellers
- Expirenza – a digital payment, tipping, and menu platform for restaurants
- Base by mono – a monetization platform for online creators
- Loyalty.ai – a platform enabling partners to promote loyalty programs within banking apps
“We’re deeply grateful to UMAEF for their trust and support,” said Horokhovskyi and Rogalskyi. “This investment opens new horizons for us to create technologies that bring even more value to our clients. Most importantly, it sends a powerful message — that even during a full-scale war, leading American investors are ready to invest in Ukraine’s economy.”
About UMAEF
The Ukraine-Moldova American Enterprise Fund (UMAEF) — formerly the Western NIS Enterprise Fund (WNISEF) — was established by the U.S. Congress in 1994. Over 30 years, it has invested $190 million in 143 companies across Ukraine and Moldova, creating over 27,000 jobs and unlocking approximately $2.4 billion in capital for regional businesses.
The Fund was also instrumental in launching Horizon Capital in 2006 and continues to support high-impact ventures across the region.
