According to Sifted, Dmytro Dubilet’s Fintech Farm, a company focused on developing neobanks, has raised $32 million. The next target market for the company is India. Here are the details:

Deal Details

• The funding was raised through an initial Series B round led by London-based venture capital firm Nordstar and an additional Series B round led by Bank of Georgia, a London-listed bank.
• Fintech Farm was founded in 2020 by Dmytro Dubilet, one of the co-founders of Ukrainian neobank Monobank; Nick Bezkrovnyy, former head of KPMG M&A; and Alexander Vityaz, founder of cloud operating system provider Corezoid.
• In 2022, the company raised $7.4 million in a round led by Flyer One Ventures and Solid, with participation from TA Ventures, Jiji, u.ventures, and AVentures Capital.
• In April 2023, Fintech Farm announced a $22 million funding round, which valued the company at over $100 million. This round was also led by the British VC firm Nordstar.
• Now, Fintech Farm is focusing on raising further investments to expand into India. According to Forbes, the company plans to enter the Indian market by June 2024. It has already signed a partnership agreement with a local bank and aims for an official launch in the summer.
• Currently, the company operates in Azerbaijan and Vietnam, while its business in Nigeria has been closed.