NovaPay Reaches 750,000+ Users — One of Ukraine’s Largest FinTech Players

As of July 7, 2025, the number of users of NovaPay, a financial service part of the NOVA group of companies, has grown to over 750,000, the company told Scroll.media. Here’s how the business has evolved.

500,000 New Clients in a Year

NovaPay launched its mobile application in December 2023, kicking off the beta phase of its service. It became the first non-banking financial institution in Ukraine to obtain an extended license from the National Bank of Ukraine — allowing it to open accounts and issue cards. While mobile banking was already familiar to Ukrainians thanks to Privat24 and Monobank, NovaPay was one of the first neobanks on the market.

The company quickly gained traction. By December 2024, it had approximately 500,000 individual and business clients, according based on data provided to Scroll.media. In November 2024, NovaPay opened its services to Individual entrepreneurs (FOPs).

Just six months later, its user base grew to 750,000. If the current pace continues, NovaPay may surpass 1 million users by the end of 2025.

This is one of the most successful growth stories in Ukraine’s FinTech sector. By comparison, Sportbank had 600,000 users by the time it shut down — a milestone that took nearly five years to reach. Competing neobanks like izi bank and Bank Vlasnyi Rakhunok reportedly serve fewer clients.

As of early July 2025, NovaPay has 695,000 private users and more than 62,000 Individual entrepreneurs (FOPs). Over 320 legal entities are also using its financial services.

Why NovaPay Is Growing So Quickly

One key factor behind NovaPay’s rapid growth is its partnership with Nova Poshta, Ukraine’s largest logistics operator. In addition to benefits for entrepreneurs and private clients, NovaPay essentially operates the largest physical branch network in Ukraine: customers can access services at more than 3,600 Nova Poshta locations.

As of today, Nova Poshta is the largest logistics operator in Ukraine, with thousands of branches and self-service delivery lockers across the country and hundreds of branches in Europe. Brand recognition and operational scale played a key role in driving growth.

Additionally, the public’s interest in new financial formats played a role.

“Ukrainians are actively exploring and integrating convenient digital solutions into their everyday lives,” NovaPay explained.

Users also have access to a full range of traditional banking services. When asked about lending activity, the company shared that nearly 58,000 unique users have used NovaPay’s credit products via the app.

Here’s how clients are using the credit offerings:

• Installment plans: used by 35,000 clients
• Credit cards: issued to nearly 24,000 users
• Early salary access: a special service for those receiving a reward through NovaPay, used by 1,600 clients
• “Parcel on credit”: a popular feature within the app, used by almost 26,000 users

Currently, 85% of NovaPay’s credit portfolio is consumer lending.

NovaPay is also one of the few Ukrainian companies whose bonds are available for purchase. The current yield is up to 18% annually, based on a 12-month term agreement.