Fintech Holdings

History

2022: Immigrants from Tinkoff Bank launched a fintech startup in the Philippines

On October 24, 2022, it became known about the launch in the Philippines of a new fintech company - Fintech Holdings. We are talking about a project of immigrants from Tinkoff Bank Georgy Chesakov, Pavel Fedorov and Raffi Montemayor.

According to Interfax, citing a statement by Fintech Holdings, the startup raised $16 million from a number of investors to develop its business in Southeast Asia. In particular, the funds received will be used to increase the company's operating activities, acquire a bank in the Philippines (if approved by the local regulator) and launch services.

Immigrants from Tinkoff launched a fintech startup in the Philippines

Despite the "difficult situation" to attract investments, the startup received support from venture investors, including the Disrupt AD fund from, UAE as well as an unnamed investor from Europe and a group of investors from the Philippines, the report said.

{{quote 'We will bring best global fintech experience to the Philippines, and we are inspired by the idea of ​ ​ improving the lives of millions of Filipinos and making financial services simple, convenient and truly accessible, "said Raffi Montemayor, co-founder and business leader in the Philippines, adding that the startup's key team consists of more than 30 people. }} Former top managers of Tinkoff Bank, after leaving the group in the second quarter of 2022, decided to create a new business in the field of financial technology. The Philippines will be the first market planned to bring new business.

The agency recalls that earlier the Tinkoff group itself hoped to enter the markets of Southeast Asia. She also planned to obtain a banking license in the Philippines, but the development of events since the beginning of 2022 has pushed international expansion plans far into the background, Interfax adds^[1]

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