Lithuanian fintech company ZEN.com, which previously acquired insolvent PINbank from the Deposit Guarantee Fund for Individuals, has decided to inject an additional UAH 200 million into the bank. Information about the move appeared in Ukraine’s SMIDA disclosure system.
To carry out the recapitalization, the bank plans to increase its share capital through the issuance of 13.6 million new shares with a nominal value of UAH 14.7 each.
ZEN.com was founded by Polish entrepreneur Dawid Rozek, who is also a co-owner of gaming platform G2A, a marketplace for video game keys and software. The company’s CEO, Michal Boguslawski, previously said that ZEN.com sees Ukraine as a promising market for the development of financial services, and that PINbank was selected as a convenient platform for entering the Ukrainian banking market. The company plans to develop the bank in line with its own fintech model.
PINbank has a complicated history. Before its nationalization in 2023, it was owned by Yevgeny Giner, president of Moscow football club CSKA. After the bank came under state control, Ukrposhta showed interest in using it as the basis for its own banking business, but the deal was never completed.
In February 2026, the National Bank of Ukraine decided to close PINbank due to prolonged risky operations and violations of minimum regulatory capital requirements. Despite this, the new owner has decided to continue developing the bank and invest additional funds in its capitalization.
