Fintech company Fintech Farm, co-founded by Ukrainian entrepreneur Dmytro Dubilet, has raised $15 million in debt financing from international investment firm Flashpoint. The funds will be used to accelerate expansion in India and Vietnam, identified as key markets for the company’s next stage of growth.
According to Flashpoint, the financing takes the form of a $15 million growth debt facility designed to scale Fintech Farm’s digital banks in partnership with local financial institutions across emerging markets.
Fintech Farm currently operates in six countries — Azerbaijan, Vietnam, India, Uzbekistan, Kyrgyzstan, and Morocco — and builds digital banks, or neobanks, providing partners with a full technology stack ranging from the mobile application to core banking infrastructure, credit scoring systems, and customer lifecycle management.
The company also develops its own lending algorithms and AI-based risk assessment models, while applying a data-driven approach to customer acquisition and retention, with a focus on long-term user loyalty.
At present, Fintech Farm serves around 3.5 million customers and has built a loan portfolio of more than $200 million. Since its founding, the company has raised around $75 million from a number of funds, including Flyer One Ventures, Redseed, TA Ventures, and Nordstar.
According to Flashpoint Managing Partner Denis Mosolov, Fintech Farm’s business model has proven effective in countries with low penetration of traditional digital banking services and enables the company to serve underbanked population segments while maintaining low delinquency levels.
Founder and CEO Dmytro Dubilet said that debt financing allows the company to accelerate growth in India and Vietnam without further diluting shareholders and is the optimal instrument for its current stage of development.
Flashpoint’s financing will be directed specifically toward the company’s projects in India and Vietnam, which have been identified as the main drivers of Fintech Farm’s further international scaling.
