Sep 19, 2022
Bank4.Me: Success story
Bank4.Me is an online platform that enables installments from many banks in one intercountry service.
The team has recently raised $300,000 from MyVentures on the VRE platform.
How is a fintech startup from Belarus developing within the Kazakhstani market? And what can the Bank4.Me users expect on the platform in the near future?
We have conducted an interview with the CEO of Bank4.Me, Andrey Antropov, to learn the startup’s success story.
– How did it all start?
The idea of the platform was born in 2014. At that time, we were building online lending products for various fintech companies. It was our team that launched the first online loans in Belarus. Having gained experience, we decided we were ready to build our own product. That’s how the success story of Bank4.Me began.
– Why did you choose Kazakhstan?
We considered different markets: the Baltic region, whose market seemed kind of small to us; Ukraine – a rather complex market with many fintech players; and finally Kazakhstan. The country’s flexible regulation and a sufficient level of freedom in the market have made us choose to build our product in Kazakhstan.
– How did you get to know VRE? What was the collaboration with the team like?
We got acquainted with VRE’s CEO, Arslan Kudiyar, on LinkedIn. Cooperation with the VRE team turned out to be even more fruitful than we expected. The guys helped us not only connect with the needed investor, but also supported the deal end-to-end. The team was in charge of the deal structuring, as well as advised and assisted a lot in legal matters.
– What was Bank4.Me’s traction before registering on VRE? Did you experience any difficulties in finding investors?
We conducted about 20,000 transactions per month in Belarus. There were no big difficulties in finding investors. It was more about finding the right synergy. Before receiving investments from MyVentures, we managed to close a pre-seed investment round with the help of Quest Ventures’ acceleration program. With MyVentures, communication was very easy and fast from the very beginning and turned into an interesting and win-win collaboration.
– Tell us about your progress and plans after receiving the investments
We’ve already spent a part of the investments to develop a car loan module supporting big-size loans. This is something that was not available on the Bank4.Me platform before. By the way, the first product testing is planned for this week. 🙂 We are also going to pilot the product in auto shows and enter the Southeast Asian market in the near future.
Are you a tech startup with an MVP and traction in place?
Register on VentureRocket Eurasia here – https://company.venturerocket.vc/
* This publication does not mean a call-to-action to invest in the startup. In considering investments, you should inform yourself and be aware of the risks.
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