Oleg Gorokhovsky, co-founder of monobank, said that ₤14 million was invested in the British Koto project, which is now called The Credit Thing.
“This is our money with Mikhail Rogalsky, plus we have attracted several rounds of investments,” Gorokhovsky specified.
According to Oleg Gorokhovsky, now The Credit Thing in the UK is not engaged in lending, although it has a license to do so. The co-founder of monobank added that in order to form a portfolio that could be refinanced, it is necessary to issue about ₤20-30 million of a loan portfolio.
“With proper management, this ‘pot’ is capable of brewing on its own. So far, we are not able to reach such volumes, so we have switched the project to a debit mode,” Gorokhovsky said.
Oleg Gorokhovsky also noted that if the stereo project in Poland is successful, Koto/The Credit Thing will become part of it. Moreover, a lending license will be a good help.
On January 18, monobank announced its entry into the Polish market with a project called stereo. It is planned that Ukrainians in Poland will become clients. The official launch of stereo will take place at the end of the first quarter of 2023.
