Fuelfinance, a Kyiv-based fintech that develops financial management and planning software for startups, has raised $1 million, mostly from angel investors in the U.S.
The company is helping other startups and established companies deal with what founder and CEO Alyona Mysko calls wartime financial management.
“Wartime financial management is like financial management during any crisis,” Mysko said in an interview. “So you simply predict different risks and try to optimize your expenses, be more efficient, spend less and have a higher runway. And still understand what expenses you should decrease, but you still should grow. You need to understand and have specific budgets for unpredictable situations.” About half of Fuelfinance’s customers are Series A or Series B startups.
The fundraise comes toward the end of a tough year for fintechs and for everyone in Ukraine since Russia invaded…