First Ukrainian neobank monobank is worth $1B, claims its co-founder

The co-founders of monobank value it at more than $1 billion, as one of the service’s co-founders, Oleg Gorokhovskyi, wrote on his Telegram channel.

  • Gorokhovskyi also added that “at this valuation, no Ukrainian bank would technically be able to acquire” monobank. Also, he said that such a deal would only be affordable to foreign investment firms.
  • The above is a reference to the unofficial news published at the beginning of August 2021 about the possible acquisition of monobank by Alfa-Bank. Both companies have denied this information.
  • monobank is the debut project of Fintech Band, which was launched by Dmitriy Dubilet, Oleg Gorokhovskyi, and Misha Rogalskiy after they left PrivatBank. monobank was made for Universal Bank. Previously, AIN.UA published a detailed history of the creation of the project.
  • For three years of work, this neobank has grown to almost four million clients, and in October 2020, it became the third largest bank by the number of cards, after PrivatBank and Oschadbank.