[TechUkraine news] Ukrainian Finmap raised $1.2 million from European and Ukrainian investors

Ukrainian Finmap raised $1.2 million from European and Ukrainian investors
  • Finmap, a cash flow management service for businesses, closed a new round of investments amounting to $1.2 million from Presto Ventures, Sturgeon Capital, SID Venture Partners, startup incubator Startup Wise Guys, as well as the investment companies BRISE Capital and TBI Bank CEO Petr Baron, all took part in the round.
  • The investment will be used to expand the team of developers, increase marketing, and extend service into Central and South Europe.
  • Finmap will continue to develop and adapt to meet the needs of users in these markets. Further integration with new banks and CRM systems, as well as adding an invoicing option, are also planned for 2022.
  • Finmap is a simple and convenient cash flow management service for modern businesses, with accessible functionality and a user-friendly interface.

“Cash flow management is an important part of the business for entrepreneurs from all over the world.  Understanding the amount of money that is generated and consumed is the only real way that you can see and understand the true state of your company in order to make critical growth and development decisions. Technological approaches in money management will help to effectively control and develop your company. Currently we are working with companies from 12 countries, with plans to expand into  Poland, the Czech Republic, Spain, and Turkey,”  report Finmap founders Alexander Solovey and Ivan Kaunov.

  • Finmap integrates with 2000+ European banks and PayPal, Wise, Revolut, ApiXDrive, Fondy services, as well as 1C and Western Bid data import. 
  • Integration with PrivatBank, monobank, PUMB, Alfa-Bank and Raiffeisen Bank Aval statements import is available for Ukrainian users. It is also possible to add accounts in more than 30 cryptocurrencies (BTC, ETH, LTC, ADA, BNB etc)

“Sturgeon Capital is excited to be participating in Finmap’s latest funding round. The product is elegant in its simplicity and powerful in its functionality, and clearly solves an acute pain point for SMEs. With a strong team and experienced investors on board, we believe that Finmap can consolidate its position in existing markets as well as enter new ones to drive growth, and we look forward to being part of that journey with them.” comments Robin Butler, Partner at Sturgeon Capital.

Finmap was founded in 2019 by serial entrepreneurs, Alexander Solovey and Ivan Ivan Kaunov. At the beginning of 2021, Dmytro Dubilet, who is also the co-founder of the fastest-growing non-bank in Europe Monobank, joined the team. In the same year the company attracted a round of investments from Ukrainian and European venture capitalists.