XData Group is a B2B software company that builds end-to-end digital banking solutions for banks and other online financial services providers, including web/mobile development, custom software, and UI/UX design. Pulse 2.0 interviewed XData Group founder and CEO Roman Eloshvili to gain a deeper understanding of the company.
Roman Eloshvili’s Background
Could you tell me more about your background? Eloshvili said:
“Certainly! I’ve been working in the finance industry for over 10 years now, having started out in investment real estate and then moved into traditional banking, which gave me an up-close look at how banks operate behind the scenes. Over the years, I realized there was a big gap in advanced Internet banking solutions in Europe, especially compared to what we see in global fintech hubs around the rest of the world. That observation sparked my mission to help transform traditional banking.”
“I founded XData Group in 2022 with the goal of building innovative banking products — using AI technology wherever possible — to make banking smoother and more efficient for everyday users. Today, I lead the company’s development strategy and oversee all financial aspects, investor relations, and growth plans. On top of that, I also founded ComplyControl in the UK in 2023, which focuses on using artificial intelligence to tackle compliance issues for banks and financial companies before they turn into real problems.”
Formation Of The Company
How did the idea for XData Group come together? Eloshvili shared:
“Well, like I said — the idea really grew out of my experience working closely with traditional banks in Europe. I saw firsthand how much untapped potential there was to bring best practices from leading fintech markets into this region. I wanted to build a company that could do exactly that: deliver modern solutions that banks can integrate easily, without having to completely overhaul their systems.”
“I chose to set up our headquarters in Tallinn, Estonia, because it’s one of the best places in Europe for a software development company. The country has outstanding digital infrastructure, a strong pool of IT talent, and a supportive environment for startups and innovation. We’ve also expanded to Spain and Armenia since our launch — two tech hubs that align perfectly with our vision of growing into a multinational company.”
Favorite Memory
What has been your favorite memory working at XData Group so far? Eloshvili reflected:
“I’d say the moment I moved into our first office — back then the whole team was basically just me. Walking into an empty space, knowing this was the start of something big, is a feeling I’ll never forget. Building that first small team and taking our first steps together was truly special.”
Core Products
What are the company’s core products and features? Eloshvili explained:
“Our main product is a complete banking suite — basically everything a bank needs, except for the core banking system itself. We provide ready-made modules for AML and compliance, CRM, trading platforms, online and mobile banking, as well as integrations with payment systems and cards. It’s an end-to-end solution designed to help banks deliver top-tier digital services to their clients.”
Challenges Faced
Have you faced any challenges in your sector recently, and how did you overcome them? Eloshvili acknowledged:
“One of our biggest challenges came as we scaled up from a team of just seven people to over 90. Growing that quickly meant we needed to rethink our internal processes quite a lot so that we wouldn’t turn into a slow-moving enterprise. To keep our startup culture alive — flexible, fast, and innovative — we reorganized big teams into smaller cross-functional units of around 7 people each. This structure helps us stay agile and focused.”
Evolution Of The Company’s Technology
How has the company’s technology evolved since launching? Eloshvili noted:
“We’ve become truly AI-centric in the way we work. We’re not only integrating artificial intelligence into our products for clients — we’re also using it to optimize our own internal processes. By automating routine tasks with AI, our team can spend more time on tasks that carry the real strategic value for our company. This shift has helped us boost efficiency and speed up development by quite a lot.”
Significant Milestones
What have been some of the company’s most significant milestones? Eloshvili cited:
“One big milestone was moving from an outsourcing model to a fully product-focused business. We’ve launched two major proprietary solutions for banks and the fintech sector.”
“The first is Comcora, our customizable BaaS (Banking-as-a-Service) platform. It’s a white-label solution that makes it easy for banks and young fintechs to roll out digital banking services quickly and cost-effectively.”
“The second is ComplyControl which I mentioned earlier. It actually started within XData Group, but we soon saw its huge potential and spun it off as an independent company in the UK. It’s now been on the market for a year and has already been acknowledged in a number of rankings, from the UK Startups 2025 to the AITech35 2025 and FinTech50 2025 lists by TechRound.”
Funding/Revenue
Are you able to share any funding or revenue metrics? Eloshvili revealed:
“Of course — we’re very open about our numbers. In 2024, we generated $7.3 million in revenue and $1.9 million in profit, which is something we’re genuinely proud of given how young the company still is. It shows that our product-focused strategy and our commitment to innovation are paying off.”
“For 2025, we’ve set the bar even higher — our goal is to nearly double our revenue to $14 million and boost our profit to $5 million. These targets reflect not just healthy growth but also our ambition to keep scaling responsibly, building up our team and continually investing in the AI-driven solutions that bring real value to our clients.”
Differentiation From The Competition
What differentiates XData Group from the competition? Eloshvili affirmed:
“It depends on who we’re compared with. If you look at traditional outsourcing companies, we’ve moved far beyond that model at this point. We have our own real, working products that banks and fintechs actually use.”
“Meanwhile, when compared to legacy banking suites, our solution is one of the most modern on the market, built with cutting-edge tech. While many players still rely on outdated systems, we believe in building tomorrow’s architecture today — and that’s exactly what we do.”
Future Company Goals
What are some of the company’s future goals? Eloshvili concluded:
“We’re really proud of what we’ve achieved so far, especially our role in driving the adoption of AI and automation in banking. Looking ahead, our plan is to keep scaling our operations, grow the team to about 120–130 people, and double down on developing our proprietary AI solutions. The role of this technology will only keep increasing on the global stage, and when it comes to financial services, we want to stay at the forefront of this transformation, bringing best-in-market solutions to the parties that need them.”
