Five Ukrainian fintech startups have joined the Mastercard Start Path Ukraine programme. The participants will receive grants of USD 10,000, as well as access to resources, mentoring and networking with experts.

The key criteria for selecting participants are relevance to the Ukrainian market, innovation, potential for scaling and positive impact on the economy.

“Start Path Ukraine provides startups with support for rapid growth. The global programme has already been implemented in 42 countries, where it has proven to be a powerful tool for boosting the fintech sector. So I congratulate the winners and encourage them to use this opportunity to expand their activities and contribute to our country’s economy,” said Oleksandr Bornyakov, Deputy Minister of Digital Transformation.

The programme participants present the following solutions:

• AML Point – a turnkey solution for financial institutions and their anti-money laundering specialists that automates financial monitoring processes (data storage, analysis and reporting) in accordance with all current regulatory requirements;
• Electronic KYC – a SaaS solution that helps banks and fintech companies to rapidly expand their customer base by minimising the effort required for customers to open an account and fully automating the customer acquisition process;
• Neofin – a comprehensive solution for launching consumer lending, covering all stages of the loan product lifecycle, including onboarding, identification and verification, as well as a system for credit decisions, further accounting and loan servicing;
• RemOnline – a universal platform for small and medium-sized businesses that helps automate business processes, including order processing, sales, customer base management, inventory accounting, finance, payroll and analytics;
• Zhabka – an innovative payment solution for entrepreneurs that allows them to issue and pay invoices in various social networks and messengers without leaving the chat with the customer.

“Ukrainian fintechs remain unbreakable and progressive despite the challenges of today. We believe that fintech startups can make a significant contribution to the country’s recovery, and we are happy to support them in creating solutions for the development of the digital economy, financial inclusion and innovative customer experience,” said Inga Andreieva, CEO of Mastercard Ukraine and Moldova.

More than 350 startups from over 40 countries have received support under Start Path. Some of them have already entered public markets and become unicorns.

Start Path Ukraine is implemented at the initiative of Mastercard with the support of the Ministry of Digital Transformation and the National Bank of Ukraine.