This Ukrainian fintech startup is providing free financial services to SMEs in the middle of a war
It's been working remotely from shelters or in the woods over these past two months.
Did you notice that The Draft, our weekly series has been on a hiatus since the disturbing news of the Russian invasion of Ukraine? 🥹
Well, we've been busy looking for ways to support the Ukrainian startup and tech ecosystem. Since then, we've reached out to some entrepreneurs to better understand the reality and how their startups are dealing with the situation.
So far, we've received a good number of emails from local entrepreneurs and founders to share their stories and experiences. One of the cool products we've learned about is Ukraine-based FuelFinance, a homegrown fintech startup that provides cloud-based financial services to businesses.
Basically, the startup helps businesses to prepare their spreadsheets, graphs, and automation, while they focus on running their business.
According to Alyona Mysko, its co-founder and CEO, the fintech startup is now providing small businesses in Ukraine its financial services for free to help them during this difficult period.
Through a first aid kit page, FuelFinance helps Ukrainian entrepreneurs to find all the information they need on how to reorganize and keep working during the war.
Another really cool initiative it has embarked on in the past two months is a platform that aggregates donations to physical-first businesses that take an active part in stopping Russian aggression in collaboration with Lift99.
The startup's mission is to save businesses from bankruptcies and unlock trillions of dollars in world GDP growth. Jane Davydiuk, the company's Chief Operating Officer told Techloy that "we started saving Ukrainian businesses and boosting Ukrainian GDP in order to win the economic war."
Indeed, "the Ukrainian spirit is very strong", and its tech community is "one of the pillars of Ukraine’s resistance", as Nataly Veremeeva, the Director of TechUkraine succinctly puts it.
There are other Ukrainian entrepreneurs and startup founders who have demonstrated resilience and have been working from shelters or in the woods over these past months.
Hopefully, we can share their stories and experiences in future articles on Techloy in order to inspire other entrepreneurs to make a difference despite political or economic challenges in their countries.
