The Ukrainian startup Finmap, is a cash flow management tool aimed at small businesses. In the new round of investor search carried out by the company, it managed to raise an amount of one million euros with the aim of further developing it. Among the investors were the Polish-American business fund SMOK Ventures, the CEO of tbi bank, Petr Baron, the Czech investment fund Presto Ventures and the investment firm Capital Genetics.
This funding is aimed at expanding the service to Poland and Turkey, strengthening its presence in English- and Spanish-speaking countries and expanding the team. At the same time, the company is considering the possibility of entering Romania and Greece.
Finmap’s main product is a cloud solution for iOS browsers and apps that offers business owners easy management of their finances, both at the company and personal level. Finmap’s solution works with more than 2,800 European banks, as well as services such as PayPal, Wise, Revolut, ApiXDrive, or Fondy, and allows clients to manage cryptocurrency portfolios.
Petr Baron, has been an active investor for many years and his portfolio includes companies with high growth margins including: FintechOS, Swipe, Releva, Eg Lili, 3S Money, Silverbird, ANNA Money and Myos.
“The creativity that characterizes the founders, Alex and Ivan, at every stage of their business development and the way they face new challenges is an inspiration to me. They are evolving with their work and they are not going to stop achieving even greater goals. Over the past year, Finmap has seen significant growth, while its product has shown that it can adapt to changes in the industry, which confirms the value of financial management and its importance for European businesses,” said Petr Baron, CEO of tbi bank.
“Despite the constant challenges, we continue to grow our company and expand our presence in new countries. Our mission is to help entrepreneurs better understand their businesses, through a “simple” system that will solve daily cash flow management issues more efficiently. We are seeing a positive trend in terms of increasing Finmap’s presence in Central Europe and strengthening our partner network by integrating local banks. It is worth noting that last year, we managed to double the number of our users,” said Oleksandr Solovei, Co-founder of Finmap.