10 Fintech Companies Outsourcing to Ukrainian Developers

10 Fintech Companies Outsourcing to Ukrainian Developers

Financial technology (Fintech) domain is getting extremely hot both for investors and for entrepreneurs. According to Accenture recent report, global investment in financial technology has more than tripled during the last five years.

New technologies and increasing demand for financial services helped private fintech companies to raise nearly $3 billion in 2014. Since peer-to-peer money transfer service TransferWise was valuated at almost $1 billion, startups addressing payments, lending services, money transfers and crypto currencies are among the most desirable goals for venture investors.

To keep up with the increasing demand for their services, sprouting fintech companies often access additional pools of developers in other countries to extend their in-house R&D, such as Ukrainian developers market. In this article we shortlisted ten fintech firms that have industry recognition, substantial funding (not less than $7 million), over 50 employees and can be identified as companies that work with Ukrainian outsourcing contractors.

1. Currency Cloud

Currency cloud

Currency Cloud is a B2B company that delivers cross-border payments as a service. Its platform leverages the Cloud to provide access to and optimise across a multitude of payment networks and exchange rate providers, provide comprehensive administration and control features and fully automate the entire payments lifecycle from pricing and beneficiary management, through execution and receipt to settlement and reporting.

Recently Currency Cloud was nominated for FinTech Innovation Awards 2015 as FinTech Start-up of the Year

Founded in: 2012

Location: UK

Company size: 51-200 employees

Funding: $17 Mln

Outsourcing partner: N-iX

2. Yapital


Yapital is a wholly owned subsidiary of the Otto Group which provides cashless cross-channel payment solution operating in-store, on mobile devices, online and by invoice.

Yapital is easy, fast and secure: following online registration, users can immediately pay, send and receive money with Yapital across all channels. For business customers, Yapital is a guaranteed means of payment – this provides process security and reduces administrative costs. In addition, Yapital enables the conversion of marketing channels into sales channels, which opens up new revenue potential. After registering with Yapital, customers can pay cashless using the Yapital Smartphone App (available for iOS, Android and Windows smartphones) online, in-store and on invoice.

In 2014 Yapital was shortlisted as CMA 2014: Mobile Payment finalist.

Founded in: 2011

Location: Luxembourg

Company size: 51-200 employees

Outsourcing partner: Ciklum

3. Expensify


Expensify is a financial services startup that provides an online expense management service for customers worldwide. Expensify’s expense management service does expense reports by importing expenses and receipts from credit cards and emails in conjunction with the Expensify mobile app to take pictures of receipts. Expense reimbursement can be done in-product through ACH Direct Deposit or by exporting reports to a payroll solution. Expensify’s patented SmartScan technology reads receipts and automatically creates expenses or matches them to transactions imported from a credit card.

Currently, over 2 million users and more than 300,000 companies use Expensify.

Founded in: 2008

Location: USA

Company size: 51-200 employees

Funding: $10,2 Mln

Outsourcing partner: Cogniance

4. Salsa Labs

Salsa Labs

Salsa Labs provides management software that helps nonprofit organizations succeed with tools like online fundraising, communications and social media. Its products, Solis and Cosm, support online donations and facilitate interaction with the nonprofits` supporters.

Salsa Labs solutions allow customers to create an account, launch a donation page, and accept donations in 30 minutes or less.

The company currently empowers more than 2,000 organizations and their more than 75 million donors, members, activists and fans across the globe.

Founded in: 2003

Location: USA

Company size: 51-200 employees

Funding: $12 Mln

Outsourcing partner: Insart

5. Prosper


Prosper is America’s first peer-to-peer lending marketplace, with more than 2.2 million members and over $2,000,000,000 in funded loans.

Prosper allows people to invest in each other in a way that is financially and socially rewarding. On Prosper, borrowers list loan requests between $2,000 and $35,000 and individual lenders invest as little as $25 in each loan listing they select. In addition to credit scores, ratings, and histories, investors can consider borrowers’ personal loan descriptions, endorsements from friends, and community affiliations. Prosper handles the servicing of the loan on behalf of the matched borrowers and investors.

Prosper was included as #61 in America`s Most Promising Companies list in 2015.

Founded in: 2005

Location: USA

Company size: 201-500 employees

Funding: $189,9 Mln

Outsourcing partner: Perfectial

6. Leverate


Leverate is a premium broker solutions provider, dedicated to delivering a wide array of innovative products and services that enable Forex brokers and financial institutions to minimize risk and maximize profit. Leverate has perfected the concept of a “brokerage in a box” with the release of LXSuite, containing all of the platforms and software needed to successfully manage a Forex brokerage.

At the heart of the LXSuite solutions package lies Sirix, HTML5 social trading platform. Sirix features an intuitive user interface designed to make trading easy, and is built to work in multiple trading environments.

In 2014, Leverate was selected for Deloitte’s Technology Fast 50, a list of Israel’s fastest growing technology companies.

Founded in: 2008

Location: Cyprus

Company size: 51-200 employees

Funding: $12,5 Mln

Outsourcing partner: Ciklum

7. Kyriba


Proactive Treasury Management (PTM) is Kyriba’s innovative approach to treasury. It combines our true cloud, software-as-a-service (SaaS) technology platform with best treasury practices taken from some of the world’s most successful and admired companies.

Kyriba delivers a new set of solutions and methodology for treasury departments to better anticipate and plan for market volatility, regulation, fraud as well as leverage opportunities for growth. By implementing PTM, organizations optimize their cash, manage their risk and work their capital more successfully.

Kyriba was named one of The World’s Best Treasury & Cash Management Providers 2015 by Global Finance magazine.

Founded in: 2000

Location: USA

Company size: 201-500 employees

Funding: $50,2 Mln

Outsourcing partner: Infopulse

8. Kreditech


The Kreditech Group uses big data, complex algorithms and automated workflows to serve a simple mission: “Better banking for everyone”. Based on 20,000 dynamic data points, the unique technology is capable of scoring everyone worldwide, including the 4bn individuals without credit score. Deploying the technology makes physical contact and paper exchange redundant. Funds can be paid out within seconds to a credit card, bank account or NFC wallet, 24/7.

The Kreditech Group’s subsidiaries currently operate in nine countries, at least one will be added each quarter.

Founded in: 2012

Location: Germany

Company size: 201-500 employees

Funding: $263 Mln

Outsourcing partner: X1 Group

9. Five Degrees

Five degrees

Five Degrees is the first provider of next generation banking software. Modern banks have selected Five Degrees to implement a truly customer centric strategy and maintain high levels of efficiency and cost control at the same time. Five Degrees’ product Matrix consists of a flexible and integrated banking platform with back-office, mid-office and customer interfaces. Five Degrees software offers unequalled user experience for any device, including smartphones and tablets.

In 2014 Five Degrees was chosen one of the TOP 50 FinTech companies in Europe with the most potential to transform the industry.

Founded in: 2009

Location: Netherlands

Company size: 51-200 employees

Funding: $7,3 Mln

Outsourcing partner: Levi9

10. Misys


Misys is a big company that provides the broadest and deepest portfolio of financial services software on the market. Company`s solutions cover retail and corporate banking, lending, treasury, capital markets, investment management and enterprise risk. Misys has more than 2,000 customers across 130 countries and a team of domain experts and partners that provides an ability to address industry requirements at both a global and local level.

Recently Misys FusionBanking Essence Personal Financial Management solution was nominated for FinTech Innovation Awards 2015.

Founded in: 1979

Location: UK

Company size: 5001-10,000 employees

Outsourcing partner: Data Art

Source: N-iX
CATEGORY: Global News

    Popular posts

    Related posts