As Forbes has learned, Dmitry Dubilet's British startup Fintech Farm has signed a contract with an Indian partner bank and plans to officially launch in this country in the summer of 2024
Fintech Farm co-founder Nikolay Beskrovny said that investments in the Indian market at the first stage will amount to $5 million and “this is until there is a full-fledged product and the first 50 thousand-100 thousand customers.”
Fintech Farm does not disclose the name of the local partner bank in India.
India will become the fourth market for Fintech Farm after Azerbaijan, Vietnam and Nigeria, where the project was recently decided to be closed.
The total volume of investments in the company since its launch at the end of 2021, taking into account follow-ons (additional financing outside rounds) is already $35 million.
Fintech Farm is a serial manufacturer of neobanks, cooperating with banks in different countries, developing and supporting fintech services for them. Monobank operates according to a similar model in Ukraine, co-founded by Fintech Farm founder Dmitry Dubilet.
