Fintech Farm, a startup founded by three Ukrainians, including monobank co-founder Dmytro Dubilet, has received $15 million in debt financing from Flashpoint Fund. The funds are planned to be used to strengthen the project’s positions in two strategic directions — India and Vietnam.
Fintech Farm, a startup founded by three Ukrainians, including monobank co-founder Dmytro Dubilet, has received $15 million in debt financing from Flashpoint Fund. The funds are planned to be used to strengthen the project’s positions in two strategic directions — India and Vietnam.
The fundraising was reported by Scroll.media. The peculiarity of the deal is that Flashpoint does not become a shareholder of Fintech Farm. The financing is provided in the form of debt, intended solely to accelerate the company’s growth.
Fintech Farm currently operates in six markets: India, Vietnam, Azerbaijan, Kyrgyzstan, Uzbekistan, and Morocco. The total number of users of the company’s products in these countries has already exceeded 3.5 million people.
According to Scroll, the Flashpoint fund, which acted as a lender, is based in London, but its history has long been associated with Russia and it has had difficulty exiting the Russian market. The company also considered opening an office in Ukraine to invest in local startups, but these plans were never implemented.
Recall that in 2024, Fintech Farm attracted $32 million in investments to expand its operations in India. At that time, Dmytro Dubilet reported that part of these funds were planned to be spent on the salaries of the Ukrainian team.
