FRACTAL, a Ukrainian group of companies, has acquired fint8, a fintech company that provides financial consulting for businesses. The deal was announced by FRACTAL founder Artem Borodatiuk and fint8 co-founder Anton Shulyk.

Deal Details

• The parties have not disclosed the financial terms, but the valuation was determined using a multiplier.
• According to fint8, co-founder Anton Shulyk sold his majority stake in the business. He noted that this is one of the few public deals on the domestic market in which a Ukrainian group is acquiring a Ukrainian service company during the war.

«I see that fint8 (…) needs investment and a different business model to grow. In addition, this deal demonstrates that the service business has real value, even during the war,» Shulyk commented.

• Operational management of fint8 will remain with the company’s co-owner and CEO, Andrii Tertyshnyk. He believes the deal gives fint8 a chance to become the leading financial service in Ukraine and eventually compete internationally.
• Tertyshnyk will now work in partnership with Nadiia Vildiaieva, CEO of the consulting company Core, which is part of FRACTAL.
• fint8 will join Core as a separate business unit. Core currently brings together more than 25 companies and provides IT recruiting, HR, R&D, administrative, legal, financial, and accounting services for the entire FRACTAL ecosystem.
• According to Borodatiuk, extending Core’s expertise into financial consulting was planned earlier, so the agreement with fint8 is a strategic move.

What Is Known About fint8

• fint8 is one of Ukraine’s largest players in the financial consulting niche for small and medium-sized businesses. According to the press release, the company has completed over 90 projects in the past five years. Its clients include service companies with annual turnover of $1 million and product companies with turnover of $3 million from more than 10 countries, including Buki, Archimatika, Shelest, Laba, and others.
• The company operates on the «outsourced CFO» model, offering services in three key areas: financial diagnostics and consulting, transformation of financial departments, financial controlling, planning, and analysis (FP&A)
• In 2024, the consolidated turnover of the fint8 group reached UAH 20 million.
• After leaving fint8, Shulyk — a strategic financier and former CEO of Uber Eats Ukraine and Civitta Ukraine — will focus on three areas: capitalization consulting for large businesses, creating a training program for mid-sized companies, and promoting financial literacy on a large scale.

«fint8 worked with small and medium-sized businesses — we built management accounting, prepared reporting, and so on. Now I’m going to work with top executives in large businesses — owners who want not just higher profits, but capital growth. I’ll help prepare companies for sale, attract investment, and build value-growth strategies. It’s a different level of tasks and a different scale,» he said.

What Is Known About Core

• In 2023, Nadiia Vildiaieva, former Chief Financial Officer of the former back office, transformed FinDep into Core and became its CEO. Today, Core provides services to all companies in the group and is beginning to work with external clients.
• For example, Core launched Netpeak Talent, a recruitment agency that has recruited C-level, IT, and digital specialists for the Ministry of Digital Transformation, the Ministry of Economy, Work.ua, OLX, Banda Agency, Fedoriv Agency, TAF Industries, and dozens of other companies across various industries.
• Each direction within Core — recruiting, finance, legal, HR — is developing as an independent business unit. fint8 will now join this ecosystem.

How FRACTAL Is Growing

FRACTAL (formerly Netpeak Group) is a group of IT companies that create products and services for business development, as well as launch and build new businesses within its ecosystem.

The group continues to expand, including through M&A. In September, influencer marketing agency WhyNot? Enot joined FRACTAL after being acquired by Netpeak New.

continue to emerge within the group, many of which originate from internal or partner projects. For example, in October, FRACTAL invested $1 million in Finerd, an AI-powered fintech platform for managing personal and business finances «for nerds.» The startup was founded by Radomyr Novkovych, who previously co-founded four companies with Borodatiuk (including Saldo Apps and RadASO, which are also part of the FRACTAL ecosystem).