The Ukraine-Moldova American Enterprise Fund (UMAEF) announced its investment in Fintech-IT Group, the software powerhouse behind monobank, marking a historic milestone as the company achieves a $1 billion valuation and becomes Ukraine’s first fintech unicorn. UMAEF joins Fintech-IT Group founders Oleg Gorokhovskyi and Mykhaylo Rogalskyi as the company’s first financial investor and sole non-founding shareholder. In addition to its direct investment, UMAEF led a consortium of American private investors participating in the growth equity round.
Founded in Ukraine, Fintech-IT Group is a leading developer of integrated digital banking software solutions, best known for creating monobank—Ukraine’s top neobank and its second-largest retail bank overall. With 9.9 million clients as of September 2025, monobank has consistently ranked among the world’s top 250 fintech companies and top 35 neobanks globally according to CNBC. The company’s software solutions also empower tens of thousands of small and medium-sized enterprises (SMEs) across Ukraine to accept digital payments, strengthening the country’s entrepreneurial ecosystem.
UMAEF’s investment not only represents a strong vote of confidence in Ukraine’s financial technology sector but also highlights the resilience and ingenuity of the Ukrainian tech ecosystem amid challenging geopolitical circumstances. The Fund emphasized that this transaction builds on its 30-year legacy of investing in Ukrainian enterprises that blend innovation with sustainable growth.
Fintech-IT Group plans to use the proceeds from this financing round to enhance its product suite and expand offerings for SMEs, including new financing and business service tools. The company’s continued growth is expected to further support Ukraine’s economic recovery and modernization of its digital financial infrastructure.
Established by the U.S. Congress in 1994, UMAEF operates as a Delaware corporation managed by seasoned American business leaders. With over $190 million invested across 143 companies employing more than 27,000 people in Ukraine and Moldova, UMAEF’s mission centers on mobilizing U.S. capital to spur regional growth while promoting the use of American goods and services.
KEY QUOTES:
“With this investment, UMAEF is expanding its existing portfolio of FinTech investments made through u.ventures, investing in a local leader launched and grown by best-in-class Ukrainian founders. Fintech-IT Group is a striking example of this strategy, achieving outstanding results in Ukraine’s financial services sector, and leading in technological advancement and customer satisfaction. The Company’s success is yet another testament to the strength of the Ukrainian tech ecosystem, depth of its technical talent, know-how and ingenuity. UMAEF has a long-standing history of investing into innovative FinTech companies with world-class ambition, as well as traditional banks, providing us with the capabilities to support Fintech-IT Group’s founders as they lead the Company through its next stage of high growth.”
Jaroslawa Z. Johnson, President and Chief Executive Officer, UMAEF
“For over 30 years, we have prioritized investments to companies and projects in Ukraine that both generate returns for U.S. stakeholders, as well as promote the purchase of U.S. goods and services. By continuing to invest in Ukraine, despite the full-fledged invasion in February 2022, we are paving the way for U.S. investors to invest in Ukraine’s future reconstruction, recovery and renewal. UMAEF was compelled to invest in Fintech IT-Group based on its strong fundamentals, high growth profile and blending of tech and finance in a sector of high interest to U.S. investors and already partnering with major U.S. companies, including Visa and Mastercard. We believe that UMAEF’s investment will provide comfort for other major U.S. investors to enter the Company—potentially at IPO on a leading U.S. stock exchange—and support the opening of a U.S. office.”
Dennis A. Johnson, Chairman of the Board, UMAEF
