The Ukrainian-founded Fintech Farm has launched the beta test of its neobank Roarbank in India, according to a post on LinkedIn.
The company reports receiving over 100,000 registrations within a few days. A year ago, Fintech Farm raised $32 million to enter this market.
“We’ve now started onboarding our first customers in a closed beta. There are still some small bugs here and there but overall things are looking great. Early feedback from customers is very positive!,” the post says.
The startup’s partner in India is Unity Small Finance Bank. After launching the first version (MVP), the company has ambitious plans to introduce even more products and services for customers in the country.
The bank offers clients a credit limit of up to 150,000 Indian rupees, up to 62 days of interest-free period, up to 20% cashback on selected categories monthly, and up to 7.5% annual interest on savings accounts.
Let us recall that in the autumn of last year, Fintech Farm launched the neobank Simbank in Kyrgyzstan. The country became the startup’s fifth market. Previously, Fintech Farm had launched Leobank in Azerbaijan and Liobank in Vietnam.
“Vietnam or India are large and fairly developed markets that, in our view, have been waiting for our product,” noted Fintech Farm co-founder Mykola Bezkrovnyi last year.
