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Fintech Farm to launch neobanks in 8 countries

Friday 28 January 2022 14:01 CET | News

UK-based startup Fintech Farm has raised over USD 7 million to launch neobanks in eight countries until 2024.

The neobanks aim to attract large customer audiences thanks to their accessible credit products and user-friendly mobile apps.

Fintech Farm was launched in 2021 by Ukrainian investors and entered the Azerbaijan market in November 2021, under the name Leobank, where it already issued around 100,000 cards. It is currently looking to expand its reach in eight new markets from Africa and Asia, including Nigeria, by partnering with local banks.

As opposed to other competitor neobanks or digital banks like Revolut and Monzo, Fintech Farm prefers a different business model, and that is to launch its brand under a new name in each country they enter, while keeping the same design and mascot.

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Keywords: digital banking, online banking, mobile banking, mobile money, online bank
Categories: Banking & Fintech
Companies:
Countries: Africa, Asia
This article is part of category

Banking & Fintech






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