Description
Detailed analytical M&A report on the FinTech sector in Ukraine
The Ukrainian fintech market doubled from $600 million in 2020 to $1 billion in 2024
– The number of deals grew steadily, and 2024 was a record year: from 3 deals in 2020, it increased to 9 in the first three quarters of 2024, reaching a total value of $61.75 million. – After a sharp drop in 2022 due to the war, the market recovered in 2023 with three large deals: Fintech Farm ($22 million), CastAI ($20 million), and Carmoola ($10 million). – Despite the fact that global fintech is facing a downturn, Ukrainian fintech has demonstrated resilience, growing from $18.57 million in 2022 to $61.75 million in 2024. – The market doubled from 180 companies in 2020 to 256 in 2024, with 75% of firms reaching profitability. – Financial management, digital payments, and cryptocurrencies are among the sub-sectors that are of the greatest interest to investors. After the adoption of the Law on Virtual Assets in 2022, the number of deals in the cryptocurrency and DeFi segments has been steadily growing. – The average deal size increased significantly in 2023-2024. Large funding rounds, such as Fintech Farm ($32 million) and CAST AI ($20 million), highlight this shift toward larger, later-stage investments.
