Glovo Ukraine Startup Lab boosts FinTech, grants €35,000 to top three startups

Glovo Ukraine Startup Lab boosts FinTech, grants €35,000 to top three startups

Glovo, the Barcelona-founded global technology platform, recently hosted the Glovo Ukraine Startup Lab competition in partnership with the Ukrainian Startup Fund.

The company, which operates in over 2,000 cities across 25 countries, boasts more than 5 million active monthly users and a partner network of around 180,000 entities.

During the event held in Kyiv on May 16, an investment total of €35,000 was split among three winning startups. Selected from a field of 20 teams and over 70 applications, the winners showcased innovation in the areas of mobility, logistics, food technology, FinTech, and lifestyle.

Glovo is a pioneering tech platform, allowing users to purchase, deliver, and transfer any item within a city’s limits. Since its inception in Barcelona, the company has expanded to serve millions of customers in 2,000 cities spanning Europe, Central Asia, and Africa. Notably, Glovo has been operating in Ukraine since October 2018 and is currently accessible in 35 cities across the country.

The newly raised funding will provide the startups with a launchpad to further develop and internationalise their projects. Revisior, a comprehensive feedback and NPS service utilising artificial intelligence and machine learning, clinched the top spot and €20,000. Following closely, DEEPLOYALTY, a digital platform enabling retailers and banks to issue loyalty cards and display transaction receipts, secured €10,000. Spendbase, a unified platform for company cost optimisation that integrates virtual banking systems, cost control systems, and SaaS management, took home the remaining €5,000.

In a statement, Sasha Micho, co-founder of Glovo, said, “Ukraine has huge potential to become a regional technology hub, as it has a unique combination of talent and startup culture. We at Glovo strive not only to create innovative solutions that connect couriers, users, and institutions, but also to expand the capabilities of local technological ecosystems. That’s why we launched the Glovo Ukraine Startup Lab to support Ukrainian startups that want to raise funds and go international. This will become a regular initiative”.

There was no mention of previous investment rounds in the press release.

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