{"id":31535,"date":"2025-11-27T09:34:29","date_gmt":"2025-11-27T07:34:29","guid":{"rendered":"https:\/\/scroll.media\/2025\/11\/27\/fintech-it-group-interview\/"},"modified":"2025-12-11T23:57:35","modified_gmt":"2025-12-11T21:57:35","slug":"fintech-it-group-interview","status":"publish","type":"post","link":"https:\/\/scroll.media\/en\/2025\/11\/27\/fintech-it-group-interview\/","title":{"rendered":"How Fintech-IT Group Works \u2014 A Mono Developer with a $1B+ Valuation"},"content":{"rendered":"\n

monobank is, without exaggeration, a one-of-a-kind project. In just eight years, Ukraine\u2019s first mobile-first bank has attracted 10 million customers<\/a>, built an entire ecosystem of products and services, and recently even \u00abbroke the Internet\u00bb with its lemon-themed marketing<\/a>.<\/p>\n\n\n\n

Until October 6, the mono developer company was known as Fintech Band, led by Oleg Gorokhovskyi and \u00a0Mykhailo Rogalskiy. However, with the announcement of an investment from UMAEF, which provided the company with its first official valuation of over $1 billion, the company rebranded as the Ukrainian IT holding, Fintech-IT Group.<\/p>\n\n\n\n

How did Fintech-IT Group come to be, what companies are part of it, how does the holding operate, and why hadn\u2019t it been talked about before? Oleg Gorokhovskyi shared the details with Scroll.media.<\/p>\n\n\n

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Oleg Gorokhovskyi. Photos provided by the interviewee<\/figcaption><\/figure>\n<\/div>\n\n\n

When was Fintech-IT Group founded, and why was now the right time to create it?<\/strong><\/p>\n\n\n\n

The full-scale invasion forced us to put plans for improving our corporate structure on hold \u2014 operational stability was the priority. In 2024, we revisited this issue, agreed on the exit of two previous shareholders from Fintech Band and ACDC, received approval from the Antimonopoly Committee of Ukraine to control these two companies in April 2025, and completed the formalization of the structure under the Fintech-IT Group brand.<\/p>\n\n\n\n

You didn\u2019t communicate the merger of your companies into Fintech-IT Group in advance. Why? How has this transformation affected the business structure and the operations of individual companies?<\/strong><\/p>\n\n\n\n

When we were finalizing the merger, the agreement with the Ukraine-Moldova American Enterprise Fund (UMAEF) was already in the works. So we decided to announce everything at the same time.<\/p>\n\n\n\n

The creation of a group is primarily a sign of business maturity. It doesn\u2019t directly affect our product initiatives, but it strengthens corporate governance, consolidates resources, and improves management efficiency.<\/p>\n\n\n\n

Combined with investments from UMAEF and a group of American private investors, the formation of the group has enhanced the companies\u2019 resilience, increased trust from international partners, and laid a foundation for scaling and potentially entering foreign markets.<\/p>\n\n\n\n

Before the UMAEF investment<\/a>, everyone knew monobank\u2019s developers under the Fintech Band brand. Now, the company is part of Fintech-IT Group. Which companies are included, how did they emerge, and what do they do today?<\/strong><\/p>\n\n\n\n

Fintech Band was the first company we established in 2017. We developed our first solution \u2014 the Monobank app for individuals at Universal Bank JSC. Subsequent companies emerged as a result of the development of new areas:<\/p>\n\n\n\n