Fintech Farm, a London-based startup dedicated to assisting banks in emerging markets with the launch of all-digital neobanks, has successfully raised $32 million in funding.
The investment includes an initial Series B round led by the London-based venture firm Nordstar, along with an extended Series B round led by the Bank of Georgia, which is listed on the London Stock Exchange.
Fintech Farm offers a ‘neobank in a box’ service that features a range of operational applications for new challenger banks. This service includes options for debit and credit cards, buy-now-pay-later solutions, credit engines, and stock investment capabilities.
The company was founded by three Ukrainian nationals: Dmytro Dubilet, the co-founder of the digital banking startup Monobank; IT lead Oleksandr Vitiaz; and former M&A director at KPMG UK, Nick Bezkrovnyy.
Fintech Farm’s inaugural project, Leobank, was launched in 2021 and has successfully attracted over 1 million active users to date. Other notable projects in its portfolio include Liobank in Vietnam and Fibo in Nigeria.
Now, Fintech Farm is looking to expand into the Indian market, aiming to enhance credit accessibility for consumers. The company has already partnered with a local bank, although the name of the partner has not been disclosed.