28/02/2023
First Ukrainian project in the portfolio: Finmap raised investments from Uber and Stripe shareholder
Finmap raised €1 million of investments in a new round. This financing will be aimed at marketing and locating the service in the countries of expansion – Poland and Turkey, strengthening its presence in English- and Spanish-speaking countries, and expanding the team.
The Polish-American venture fund, SMOK Ventures, became the lead investor. Co-founder and general partner, Paul Bragiel, has invested in over 400 companies in his career, including “unicorns” like UBER, Stripe, Niantic, Unity, and Zappos. This is the first time the fund is investing in a Ukrainian project.
The investment round was also joined by its previous lead investor, the Czech investment fund Presto Ventures, investment company Capital Genetics, and the CEO of tbi bank, Petr Baron.
“Despite constant challenges, we continue to develop our company and scale in new countries. Our mission is to help entrepreneurs better understand their businesses, by means of an “easygoing” product. In the past year, we managed to double the number of our users” – stated Finmap’s co-founder, Oleksandr Solovei.
Borys Musielak, founding partner at SMOK Ventures, commented: “I believe that what Finmap offers is especially important now in this time of recession when every small and medium company across the globe worries about cash flow. At SMOK.vc we are working hard to support Ukrainian entrepreneurs by bridging CEE to Silicon Valley, and I'm very proud to be leading the investment round of Finmap as part of that mission.”
“Despite all the challenges that our country and our business have to overcome, we continue to work and grow. I am incredibly proud of my business partner and our team, their zeal and support, that they inspire me with every day”.
Today, Finmap remains an example of the indomitability of Ukrainian business, that continues to grow and develop.