Portal, a startup founded by Ukrainian, closes $350k angel round

Portal, an international startup with Ukrainian founder Andrew Bondarenko, has closed a $350,000 angel funding round, as reported to AIN.UA by representatives of the company.

Portal is a platform that helps companies with remote employees to simplify administrative work, make international payments, and reduce legal risks. As it was noted in the company, it does not have Ukrainian clients yet. Portal is focused on the American market.

Andrew Bondarenko. Photo: Portal

It is reported that the angel round was closed by a group of investors from the Netherlands. Among them were ex-VP of Software Engineering at Oracle and Adriaan Kolff, MatcHR founder. According to Andrew Bondarenko, the founder and CEO of Portal, the company will use the raised funds for a more aggressive growth strategy, as well as to speed up product development and expand the team.

“We managed to close the round under COVID-19 conditions and completely remotely just in a month. It was an extremely interesting experience. We have a strong team and mentors from Revolut, Transferwise, and Google,” Bondarenko commented.

As noted in Portal, Andrew Bondarenko began working on the idea in April 2020. The investment was raised in August 2020, and the round was closed in September, along with the launch of the service. The $350,000 round was the first funding in the company.