Wallets/monobank
monobank (Ukraine)
0 standards supported
Overview
monobank is Ukraine's largest commercial digital bank + Ukraine's first mobile-only bank [1, 2, ua-cro]. January 1, 2025 baseline: 9.77 million active cards per NBU (National Bank of Ukraine) — second-place among Ukrainian banks by active cards for 2nd consecutive year. 2025 latest: 10.3+ million Ukrainians chose monobank.
Distinctive monobank positioning [3]:
- Fintech-IT Group $1B+ valuation — Ukrainian fintech-IT-Group monobank developer.
- Mobile-only banking — Ukraine's first mobile-only bank.
- Operates via Universal Bank partner banking license (Universal Bank holds full NBU banking license).
- Total deposits: 108 billion hryvnias (~$2.5 billion USD) — third place among Ukrainian banks by attracted deposits.
- Top-35 global neobank per CNBC — distinctive Ukrainian fintech international recognition.
History
November 2017 — monobank launches [2] as Ukraine's first mobile-only bank by Fintech-IT Group (operating via Universal Bank partner banking license).
Co-founders: Oleg Gorokhovskyy + Mykhailo Rogalsky + Dmytro Dubilet — former PrivatBank executives.
2018-2024 — Mass Ukrainian adoption [1]: Multi-million-user growth despite war-related challenges from Feb 2022 Russian invasion.
September 2023 — monobank reached 2nd place among Ukrainian banks by active cards + maintained position 2024-2025.
January 1, 2025 — 9.77M active cards (NBU) + 2025: 10.3M+ Ukrainians [1].
November 2025 — Fintech-IT Group $1B+ valuation disclosure [3].
Ownership & operator
Operating entity: Universal Bank (Ukrainian banking license partner; holds NBU banking license).
Co-founders / Fintech-IT Group monobank developer: Oleg Gorokhovskyy (CEO) + Mykhailo Rogalsky + Dmytro Dubilet — former PrivatBank executives.
Fintech-IT Group valuation: $1B+ (November 2025 disclosure).
Regulators: NBU (National Bank of Ukraine) (via Universal Bank partner banking license).
Technical integration
| Layer | Description |
|---|---|
| Channels | monobank mobile app (iOS + Android) + monobank cards |
| Identifiers | Phone + email + Ukrainian ID + card number |
| License | Bank (via Universal Bank partner banking license; NBU regulated) |
| Sub-products | monobank Account + monobank Cards (Visa + Mastercard) + monobank Credit + monobank Savings + monobank Investments + monobank Insurance + monobank for Business |
| Distinctive UA positioning | Ukraine's first + largest mobile-only digital bank |
| Top-35 global neobank per CNBC |
Users & growth
January 1, 2025 + 2025 trajectory [1]:
- Active cards (Jan 1, 2025; NBU data): 9.77 million
- Ukrainians using monobank (2025 latest): 10.3+ million
- Total deposits: 108 billion hryvnias (~$2.5 billion USD)
- Rank by active cards: 2nd among Ukrainian banks (2 consecutive years; since Sep 2023)
- Rank by attracted deposits: 3rd among Ukrainian banks
- Fintech-IT Group monobank developer: $1B+ valuation (Nov 2025 disclosure)
- Top-35 global neobank per CNBC
Use cases
Ukrainian retail mobile-only digital banking; monobank Account + monobank Cards (Visa + Mastercard) + monobank Credit + monobank Savings + monobank Investments + monobank Insurance + monobank for Business; Ukrainian wartime banking continuity (since Feb 2022 Russian invasion).
Implementations & partners
Operator: Universal Bank (Ukrainian banking license partner) — operating monobank.
Fintech-IT Group monobank developer: Oleg Gorokhovskyy (CEO) + Mykhailo Rogalsky + Dmytro Dubilet — former PrivatBank executives.
Major Ukrainian banking competitors:
- [[privatbank]] (Ukraine's largest bank; 19M+ active customers; state-owned post-2016 nationalization)
- Oschadbank (Ukrainian state savings bank)
- Ukrgasbank + PUMB (First Ukrainian International Bank) + Raiffeisen Bank Ukraine + Credit Agricole Ukraine (Ukrainian commercial banks)
- Sense Bank (formerly Alfa-Bank Ukraine; renamed post-2022 sanctions)
Regulator: NBU (National Bank of Ukraine).
Fun facts
- Ukraine's largest commercial digital bank + Ukraine's first mobile-only bank (Nov 2017).
- Jan 1, 2025 — 9.77M active cards (NBU) + 2025: 10.3M+ Ukrainians.
- Total deposits 108 billion hryvnias (~$2.5B USD).
- 2nd among Ukrainian banks by active cards (2 consecutive years; since Sep 2023).
- 3rd among Ukrainian banks by attracted deposits.
- Co-founders Oleg Gorokhovskyy + Mykhailo Rogalsky + Dmytro Dubilet — former PrivatBank executives.
- Fintech-IT Group monobank developer: $1B+ valuation (Nov 2025 disclosure).
- Top-35 global neobank per CNBC.
- Operates via Universal Bank partner banking license — distinctive Ukrainian banking-as-a-service model.
- Ukrainian wartime banking continuity (since Feb 2022 Russian invasion).
Comparison
| Feature | monobank | [[privatbank]] (Ukraine's largest bank rival) | Sense Bank (formerly Alfa-Bank Ukraine; renamed post-2022) | Raiffeisen Bank Ukraine | [[revolut]] (UK global expansion with UA presence) |
|---|---|---|---|---|---|
| Operator | Universal Bank (Ukrainian banking license partner; Fintech-IT Group monobank developer $1B+ valuation Nov 2025; co-founders Oleg Gorokhovskyy + Mykhailo Rogalsky + Dmytro Dubilet ex-PrivatBank executives) | PrivatBank (Ukraine's largest bank; state-owned post-2016) | Sense Bank (formerly Alfa-Bank Ukraine; renamed post-2022 sanctions) | Raiffeisen Bank Ukraine (Raiffeisen Group Austria affiliate) | Revolut Group |
| Type | Ukraine's first + largest mobile-only digital bank; banking-as-a-service via Universal Bank partner license | Ukraine's largest bank (19M+ active customers) | Ukrainian commercial bank | Ukrainian Austrian-Raiffeisen affiliate | UK global multi-currency digital bank |
| Country | Ukraine | Ukraine | Ukraine | Ukraine | Global |
| Users | 9.77M active cards Jan 1 2025 + 10.3M+ Ukrainians 2025 + 108B hryvnias deposits (~$2.5B USD) | 19M+ active customers (2024) | Major UA | Major UA | 50M+ |
| Distinctive | Ukraine's first mobile-only bank (Nov 2017); 2nd by active cards 2 consecutive years; 3rd by attracted deposits; Top-35 global neobank per CNBC; Fintech-IT Group $1B+ valuation; co-founders ex-PrivatBank executives | Ukraine's largest bank by customers; nearly every second adult Ukrainian uses Privat24 | Renamed post-2022 sanctions (Alfa Group divestment) | Austrian Raiffeisen Group affiliate | Global multi-currency Borderless |
Status
Active, Ukraine's largest commercial digital bank + first mobile-only bank [1, 3]:
- Universal Bank operating monobank since November 2017 (Fintech-IT Group monobank developer; co-founders Oleg Gorokhovskyy + Mykhailo Rogalsky + Dmytro Dubilet ex-PrivatBank executives).
- Jan 1, 2025 — 9.77M active cards (NBU) + 2025: 10.3M+ Ukrainians + 108B hryvnias deposits (~$2.5B USD).
- 2nd among Ukrainian banks by active cards (2 consecutive years).
- Top-35 global neobank per CNBC.
- Fintech-IT Group $1B+ valuation (Nov 2025).
- NBU regulated via Universal Bank partner banking license.
Sources
- 1 monobank (Ukraine) — Wikipedia
- 2 monobank UA first mobile-only bank — TechUkraine
- 3 Fintech-IT Group monobank $1B+ valuation Nov 2025 — Scroll Media
- 4 monobank vs PrivatBank Ukraine — TopTonApp
- ua-cro In-corpus:
reports/countries/UA-ukraine.md
Source
Biography extracted from monobank.md. See matrix.md for standards-support matrix if present.