Ukrainian fintech startup MyCredit raises $3 million valued at over $20 million

Ukrainian startup MyCredit has raised $3 million in its latest funding round, led by TAS financial group that announced the news.

MyCreditis valued at over $20 million.

What is MyCredit

MyCredit is a fast loan service that transfers money to your card online. The project kicked off in 2016 and within three years managed to rise to the top and become one of the top three online loan market leaders of Ukraine.

MyCreditis available as a mobile application for Android. iOS version is still being developed.

Startup performance results

More than 500,000 customers used the services of the company since its founding.

“In the environment of tough market competition, MyCredit demonstrates impressive growth and high quality of its loan portfolio,” says Anton Kernasovsky, investment director at TAS Group.

Where funds raised will go

The funds raised during the funding round will be directed towards attracting new customers, increasing the loan portfolio, and further product development.

“For us, it is a strategic partnership. It took us a while to pick not merely a financial investor, but “smart money” investor who will be able to strengthen our expertise in the financial sector, and who also has experience of growth in competitive markets,” commented MyCredit CEO Dmitry Stenzya.