Not Only Horokhovskyi: Who Else Owns Monobank and Controls Its Operations

Monobank is not only associated with Oleh Horokhovskyi, who regularly communicates with clients and presents new features of the service. However, behind the popular banking app lies several companies and co-owners—who really owns Monobank and how is control over the business distributed.

Who really owns Monobank

The popular mobile banking service is not a standalone banking institution, but operates under a license of JSC Universal Bank, which is part of the TAS financial-industrial group of Serhiy Tihipko. The Monobank brand itself is jointly owned by the TAS group and the LLC Fintech Bend, which is fully responsible for development, software, and technical support, as evidenced by YouControl data. All financial operations are backed by the official National Bank of Ukraine banking license No. 92 dated 20, of January 1994, which guarantees client funds in accordance with state standards.

Who controls the technological operator Fintech Bend

The Anti-Monopoly Committee of Ukraine (AMCU) granted official permission to the Cypriot company Crestline Limited to acquire control over LLC Fintech Bend, which acts as the key service operator of the project, according to the AMCU decision. This company creates the functionality that users rely on daily on their smartphones.

According to YouControl analytical data, the main holders of shares in Fintech Bend LLC are former managers of PrivatBank—Oleh Horokhovskyi and Mykhailo Rohalsky. Each directly owns 31,96% of the capital, and also holds an additional 5,24% through intermediary companies. Among other project co-owners are Yevheniia Kryvenko and a Cyprus-registered company Nisets Limited (owning 14%), as well as Daria Bukreyeva with a stake of 8%.

Crestline Limited also controls 2,784% of the shares of another Dnipro-based enterprise—LLC ESI DSI Processing, in which 93,351% is owned directly by Fintech Bend. Minority participants in this processing center are Horokhovskyi, Rohalsky, and Kryvenko (each 1,082%), and Bukreyeva’s share amounts to 0,618%. The main beneficial owners of this structure are recognized as Oleh Horokhovskyi and Mykhailo Rohalsky, whose indirect control amounts to 36,13% each.

Why the bank brand is associated with Oleh Horokhovskyi

Although a whole group of investors stands behind the business, in the media space the most visible is co-founder Oleh Horokhovskyi. He regularly appears in direct communication with customers on social networks, presents updates such as the savings “Bank,” children’s cards, or investment tools, and promptly comments on disruptions and crises. Transparency, fast responsiveness, and a branded sense of humor have made the entrepreneur the principal ideational leader of the team and a key factor in the audience’s trust.

How the service was created and what it means for the safety of funds

The story of Monobank began with its official market launch on 22 of November, 2017, and as of 12 July, 2023, the neobank had already attracted more than 7,4 million active clients. Since the service does not have its own separate banking structure, all user funds are recorded on the balance sheet of Universal Bank under number 226 in the state register of banks.

By the way, Monobank recently launched a new feature that allows children to earn money for doing chores. The idea is that parents set rewards for completed tasks and transfer this reward directly to the children’s cards. In addition to tasks, you can also set a deadline for completion. Tasks appear in the child’s app, and after completion you need to press the “Mission accomplished” button.