Fintech Farm raises $32m as it prepares to expand into India

Fintech Farm, a pioneering technology provider for medium-sized banks in emerging markets, has successfully raised $32 million in a Series B funding round. The round included an initial phase led by Nordstar and an extension led by the Bank of Georgia, listed on the London Stock Exchange.

Founded in 2020, Fintech Farm specializes in empowering banks in emerging markets to develop neobank applications, leveraging their digital expertise. The company differentiates itself by offering comprehensive operational support, moving beyond the typical regulatory and infrastructure-focused solutions of traditional banking-as-a-service (BaaS) providers.

“Our unique approach, which we refer to as ‘a neobank in a box,’ provides our clients with all the necessary tools to launch and scale profitable digital banks,” said Dmytro Dubilet, co-founder of Fintech Farm and a pioneer in the neobanking sector. “This technology suite includes everything from debit and credit cards to investment opportunities, mirroring the successful features of European neobanks.”

The founding team of Fintech Farm includes esteemed professionals such as Dmytro Dubilet, former KPMG M&A executive Nick Bezkrovnyy, and Alexander Vityaz, the founder of cloud-based operating system provider Corezoid. The company previously secured $7.4 million in a funding round in 2022, supported by Flyer One Ventures, Solid, and other prominent venture capital firms.

Fintech Farm has already demonstrated significant impact in the market, having launched successful partnerships in Azerbaijan with a local bank to deliver an app-based banking solution to over 1 million users, and in Vietnam with Orient Commercial Joint Stock Bank to develop Liobank.

The company is compensated on a performance basis, linking its success directly to the customer acquisition and revenue growth it enables for its partner banks.