Ameetee is a B2B fintech platform that equips financial organizations, regardless of their size, with a white-label solution to offer investment opportunities in private companies to their clients in the form of securities. Pulse 2.0 interviewed Ameetee co-founder and co-CEO Mila Khrapchenko to learn more about the company.
Mila Khrapchenko’s Background
What is Mila Khrapchenko’s background? Khrapchenko said:
“My journey into finance began in investment banking, where I worked with various financial instruments, from publicly traded securities to derivatives, securitizations and structured finance deals. Throughout my career, I’ve dealt with numerous markets, including interest rate derivatives, foreign exchange, commodities, bonds, and stocks. This helped me hone my skills in both credit and market risk management.”
“On a personal level, my investment interests have evolved beyond publicly listed stocks and bonds. I’ve delved into distressed bonds, leveraging analytical insights to uncover their potential for future earnings.”
“Today I am the co-founder and co-CEO of Ameetee, a B2B fintech platform dedicated to democratizing access to private company shares for financial institutions. Additionally, I’m deeply involved in angel investing, with a global portfolio spanning over 30 early-stage VC investments. My role extends beyond providing capital; I actively contribute to my portfolio companies’ fundraising efforts and business strategies.”
Formation Of Ameetee
How did the idea for the company come together? Khrapchenko shared:
“The inception of our company sprouted from a convergence of personal experience and market observation. As I ventured into angel investing, I identified parallels between early-stage ventures and distressed debt—both offering substantial upside potential entwined with considerable risk and many uncertainties. However, my inclination shifted towards late-stage companies, where the potential for growth was still significant, albeit requiring substantial funding beyond what I could individually provide.”
“Recognizing this gap in the market—where access to late-stage investment opportunities was typically reserved for sophisticated investors wielding substantial capital—we embarked on a quest to bridge this divide. Drawing from our banking backgrounds and a shared passion for late-stage startup investments, my partner Serge and I, alongside Natan, embarked on conceptualizing a solution. We observed that even high-net-worth individuals face complexities when seeking to invest in private companies, which further ignited our resolve.”
“Additionally, our own encounters with the intricacies of investing through traditional banking channels underscored the need for streamlined access to such assets. Thus, we embarked on crafting investment instruments that amalgamated our banking expertise with our entrepreneurial spirit. Our idea was validated by the palpable demand for such solutions, not only from individual investors but also from financial institutions seeking to broaden their clients’ investment horizons.”
Favorite Memory
What has been Khrapchenko’s favorite memory working for the company so far? Khrapchenko shared:
“It’s probably difficult for me to pinpoint a particular memory. Every morning I wake up feeling grateful that I’m doing something important and valuable, and also, something that it’s really mine. The most delightful thing about this is that I’m doing it with people who believe in our purpose, who have a vision, just like I do, and that this vision gradually comes to life.”
“Yes, perhaps not as quickly, and maybe not in the form it initially appeared to be, but nevertheless, it’s the feeling of finding my own place in life. There have been some funny episodes we’ve had, and stories we’ve shared. One particularly funny story was about a guy who emailed me. He has his own private advisory firm, based in Italy and Israel, and it seemed like we might find each other interesting and useful, and that it would be really worthwhile meeting in person.”
“But we were in Israel and he was in Italy, so it didn’t work out. And so, we started planning how we would meet, and suddenly, completely by chance, I told him, “We’re actually heading to a fintech summit in Cyprus, the Forbes one,” and he said, “Oh, my guys are going there too, my Israeli partners.” And not knowing these Israeli partners at all, we agreed that on the very first evening, before the conference started, we would meet with them in Cyprus, get acquainted, talk about business, and try to find some common ground. So, completely unaware of where we would be meeting, and what we would even talk about, we agreed to meet at a small kosher restaurant in Limassol.”
“They chose it and there was no one there except us. We sat down at the table, and it felt like we’d known each other for a thousand years. Literally, within an hour, we were singing songs in different languages, chatting about everything, trying to talk about business. Business wasn’t going very well, but the songs were just great. What I terribly love and what I most often remember is the incredible, interesting, very deep human interaction. I meet very interesting people from the venture industry, from the entrepreneurial environment, event organizers, a wonderful PR team, and so on. These are people with very high internal standards both in business and in terms of ethics and attitudes towards the world. And it’s amazingly great because they often come from different cultural backgrounds, and countries, and speak different languages. These are my favorite memories.”
Core Products
What are the company’s core products and features? Khrapchenko explained:
“Ameetee is a B2B fintech platform that equips financial organizations, regardless of their size, with a white-label solution to offer investment opportunities in private companies to their clients in the form of securities. Led by a seasoned team of investment professionals, Ameetee is dedicated to democratizing access to shares of private companies.”
“Ameetee involves investment professionals in the assessment and due diligence of every potential deal. In cases where a deal demonstrates considerable potential and is graded as high quality, the platform engages a reputable professional administrator to create a security, which can then be marketed and sold by financial institutions. This ensures alignment of the commercial terms of the deal with the terms of the note and makes the investment accessible for the end client through the bank’s app or online banking portal, or with the assistance of a bank manager.”
Challenges Faced
What challenges have Khrapchenko and the team faced in building the company? Khrapchenko acknowledged:
“We’ve certainly encountered challenges in our sector. The market turbulence in 2022 and early 2023, driven by unprecedented inflation and interest rate hikes, posed significant hurdles for us as a fintech company specializing in investments. This turbulence had a notable impact on investments in private markets, with valuations dropping sharply, rising illiquidity premiums, and diminishing interest in less transparent assets. At the outset of our journey with Ameetee, we faced doubts about our ability to navigate through these challenges.”
“To overcome these difficulties, we actively listened to our potential clients and adjusted our product offerings accordingly. By soliciting feedback and responding to their needs, we expanded our range of services, including debt instruments, which we hadn’t initially considered. However, we’re still working on addressing certain obstacles, such as the lack of quality contacts in specific markets. Despite these challenges, our ability to adapt to client demands has already led to several successful deals, and we continue to explore new lead-generation methods and expand our network to further grow our business.”
Evolution Of Ameetee’s Technology
How has the company’s technology evolved since launching? Khrapchenko noted:
“When we were starting the company, we didn’t really have a platform as such, so over the first few months, we launched this platform. As I said earlier, our main task now is probably to expand this platform so that it’s possible to offer completely different classes of assets, which is practically already done. However, from a technology standpoint, the platform remains very basic. We have a huge backlog for the coming months, at least for the next year, and it’s already fairly detailed until the end of the year. There are many interesting topics in there, including the use of machine learning methods, the use of various large language models to produce and analyze content, to filter the companies we select, and so on. We have many other interesting applications in the backlog.”
Significant Milestones
What have been some of the company’s most significant milestones? Khrapchenko cited:
“One of the most important milestones is maintaining a highly cohesive and productive team despite our geographical dispersion, which we consider crucial at this stage. With three founders who have a longstanding working relationship, we’ve been able to foster a supportive and collaborative environment.”
“Another notable milestone is successfully securing investments for our development despite challenging market conditions for startups. While we may have made some mistakes along the way, they have been small and not fatal, and we’ve learned from them.”
“Additionally, closing our first deals within our first year of operating the platform was a remarkable accomplishment, especially given the tough markets and difficult climate for Israeli startups at the time.”
“Looking ahead, establishing partnerships with large financial institutions and venture capital funds is a key priority. Furthermore, striving for profitability within the next year is a significant goal, despite the ongoing challenges in the market. Lastly, efficiently implementing our backlog remains essential, aiming for quality, speed, and cost-effectiveness, which is typical for startups focused on prudent resource management.”
Customer Success Stories
After asking Khrapchenko about customer success stories, he highlighted:
“One of our notable success stories involves our involvement in facilitating a small deal for Bayzat, an HR-tech project based in the United Arab Emirates. Last year, we successfully secured an investment for them, which was a significant achievement considering our scale. Although our clients’ allocation was modest, it provided them with an opportunity to participate in an additional issuance, benefiting both them and the company. We’re proud of this accomplishment. Additionally, we’re currently engaged in several promising deals that we expect will yield positive outcomes.”
Funding
When asking Khrapchenko about the company’s funding and revenue information, she revealed:
“Our startup was founded at the end of 2022, so it’s too early to talk about recurring revenue, but we’ve already achieved a $12 million turnover and have raised a $1 million seed round backed by a group of business angels, including Jamie Karraker, founder of Alto Pharmacy, a unicorn in the industry.”
Total Addressable Market
What total addressable market (TAM) size is the company pursuing? Khrapchenko assessed:
“The company is pursuing the rapidly growing Online Investment Platforms Market. As of 2022, this market has reached a valuation of $8.12 billion, with projections indicating a surge to $30.42 billion by 2032, boasting an impressive Compound Annual Growth Rate (CAGR) of 16%.”
“This growth is fueled by the increasing adoption of online investment platforms, particularly among retail investors seeking alternative investment opportunities beyond traditional financial institutions.”
“Notably, private equity investment platforms are significant players in this market, serving as intermediaries that connect investors with companies seeking capital. These platforms offer diversified opportunities, lower minimum investments, and streamlined processes, including online account creation and electronic document signing.”
Differentiation From The Competition
What differentiates the company from its competition? Khrapchenko affirmed:
“What sets Ameetee apart from its competitors is its specialization in converting ownership stakes in private companies into securities, and, unlike many other platforms, Ameetee directly verifies the validity and worthiness of deals. Ameetee operates on a B2B model and focuses on investments in the companies themselves, providing comprehensive client support throughout the process.”
Future Company Goals
What are some of the company’s future company goals? Khrapchenko concluded:
“Some of the company’s future goals include establishing significant partnerships with large financial institutions and venture capital funds to expand our network and enhance our offerings.”
“We aim to achieve profitability within the next year despite the ongoing market challenges, as this will demonstrate our sustainability and financial viability.”
“Additionally, we plan to continue developing our platform to meet evolving market demands and provide innovative solutions for our users.”
“Last but not least, we aim to efficiently implement our backlog of tasks, focusing on quality, speed, and cost-effectiveness to maximize our resources as a startup.”
