Monobank co-founder Dmitry Dubilet joined the Finmap startup team. Adsider explains what the project is, why it is being restarted and what will change in the new version
Finmap. Who they are
The company was founded by entrepreneurs Ivan Kaunov and Alexander Solovey. Ivan is known for his work with the Pix startup, backpacks with LED screens producer. Alexander has in the past developed the company Drommel, which makes Scandinavian-style furniture.
In 2018, entrepreneurs launched Finmap. The service helps small and medium-sized businesses to simplify their financial accounting. According to the founders, the tool enables entrepreneurs to see the state of their business without special knowledge of finance and study of complex systems. In 2020, Finmap was included in the list of winners of the Pitch Day competition from the Ukrainian Startup Fund and received a grant of $50,000.
How Dubilet became a partner
On March 10, Monobank co-founder Dmitry Dubilet announced that he has joined the Finmap team. He also announced a product restart. The former banker did not tell about the terms of partnership with Kaunov and Solovey. The founders of the company also declined to comment on the matter. Dubilet added that the founders of Finmap approached him first.
“I liked the idea of the project, but the service itself seemed a bit complicated. I offered the guys a partnership, but on condition that we completely restart the service — we will make it simple and convenient, like Monobank. The guys agreed, and for the last six months our work has been in full swing,” Dubilet wrote on his Facebook page.
Alexander Solovey called the partnership with the co-founder of Monobank a logical step. According to him, Dmitry has extensive experience in building online products and the fintech vertical in general.
What will change now
The Finmap team believes that the main task of a startup today is to make the interface as simple and intuitive as possible without increasing the number of buttons, clicks and actions for the user. “As you know, the simpler the system, the harder it is to make,” says Solovey.
The company also shared some of the innovations that will now appear in the service:
- We left only the necessary fields for write-offs and receipts.
- The terminology became clear to non-financiers.
- Integration with Monobank and Privatbank.
- Simplified switching between companies within one account.
- We made the most flexible access settings.
- Increased the speed of work 20 times.
- Account balances have been added to the calendar.
- Added automatic charges, write-offs with the subsequent distribution of operations by types, categories, projects.
- The analytics of the service allows you to know exactly the amount of money in accounts, in an office safe, on a bank card, and the like.
- You can see all income and expenses by projects, customers, employees and tags.
- Employees can be given different access rights.
The service also has a Telegram bot. According to the founders, this will further simplify the work with reporting — it is enough to indicate the amount, type of operation, counterparty and category. Then the bot will automatically enter the information into the tool.
“Many people participated in the work, and we took into account the arguments of each of them. We could even discuss the color of the button for a very long time in order to arrive at a harmonious appearance,” Solovey says.
How to register
As of now, you can become a Finmap user after preliminary registration. To do this, you need to leave a request on the project website. In a few weeks, the first users will already receive invitations.
The process looks like this:
- You leave an e-mail address on the website where the access data for the beta version of the application is sent.
- Within 5 minutes, a confirmation comes that you are on the list.
- As soon as all service systems are ready, you will receive an invitation with access.