Fintech Farm, a London-based startup that helps banks in emerging markets to launch all-digital neobanks, has raised $32 million in funding.
The investment comprises an initial Series B round led by London-based venture firm Nordstar and an extension Series B round led by the London Stock Exchange-listed Bank of Georgia.
Fintech Farm's 'neobank in a box' service comrpises an arrray of operational apps for fledgeling challenger banks encompassing features such as debit and credit cards, buy now pay later options, credit engines, and stock investment.
Based in London, the company was founded by three Ukrainian nationals, Dmytro Dubilet, the co-founder of digital banking startup Monobank, IT lead Oleksandr Vitiaz, and former M&A director at KPMG UK, Nick Bezkrovnyy.
Fintech Farm’s first project, Leobank, was launched in 2021. To this 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 has now set its sights on the Indian market, where the goal is to make credit more accessible to consumers. It already has a local bank partner, the name of which remains undisclosed.