Neobanks (online, virtual banks) are confidently conquering the Ukrainian market. Due to their technological effectiveness, convenience, lack of bureaucracy, they are deservedly popular with Ukrainian users. One of the most successful examples of such a dynamically developing financial institution is sportbank managed by Nykyta Izmaylov and Serhiy Tihipko. Obviously, one of the secrets of the sportbank’s success is synergy of Izmaylov’s youth and activity and Tihipko’s huge experience.
To date, the sportbank has attracted almost 500 thousand costumers. According to Nykyta Izmaylov, the potential is currently used only by 30%. The bank is part of the Izmaylov Fund No. 1 specializing in investing in technology startups.
Nykyta Izmaylov began his career at KPMG, after which he became the CFO of the Parimatch betting company. His interests as an investor are not limited to the sportbank. Besides the neobank, the Fund’s portfolio includes the Asquad payment system, a startup with the Tap to Phone technology of Transenix and other fintech projects.
Serhiy Tihipko’s Tascombank has long planned to become a platform for one of the neobanks, while Nykyta Izmaylov was attracted by Tihipko’s expertise and extensive banking experience as the startup has long been looking for such a serious authoritative partner. Tight cooperation between the two financial institutions began in the summer of 2020 and in December, the first cards were released.
The sportbank mainly specializes in issuing credit cards. The grace period is up to 4 months, one of the best offers on the market.
The sportbank’s special feature is that every month new services are launched here, each of which is monitored and tested before launch. The partnership between Nykyta Izmaylov and Serhiy Tihipko was clearly successful. Both partners are actively involved in the project. Tihipko personally holds meetings with the sportbank team.
Serhiy Tihipko’s daughter, Anna Tihipko, has launched her own neobank – izibank. She acknowledges that the competing sportbank differs from other market players by its market niche selected. In turn, Nykyta Izmaylov considers izibank a competitor, but they have no ‘insults’ on Tascombank. According to Izmaylov, the platform gives both neobanks the same access to resources without giving anyone an advantage. Therefore, the competition between them is fair and transparent.
As a result of a reasonable strategy and successful partnership, the sportbank is flourishing: all declared plans are fulfilled, and the share of unpaid loans does not exceed the planned 10%. Moreover, the neobank has developed an effective mechanism for preventing such troubles: three times a month, the bank’s client receives a notification about the amount to be paid and methods of payment.
Currently, Nykyta Izmaylov estimates the sportbank at $60 million. Foreign investors have already become interested in this successfully developing startup. Israeli billionaire Teddy Saggy offered $35 million for a controlling share in the bank. However, the founders of the sportbank are still in no hurry to sell anything. Firstly, there are agreements with Tihipko not to conclude any transactions until the business begins to bring sustainable profits, and secondly, simply selling a controlling share is too small for ambitious Izmaylov.
Meanwhile, the founders of the sportbank are really ambitious. In the near future, they are planning to win a million customers and become one of the leading banks in the sports ecosystem. Especially interesting for the founders of the sportbank are e-sports events, the broadcasts of which are watched by millions of viewers. After all, these fans are potential customers of their bank. So, Nykyta Izmaylov is ready to provide payment infrastructure for the events that will be interesting for both organizers and e-sports athletes and fans.
Original source: https://apostrophe.ua/en/news/business/2021-11-11/sergej-tigipko-vmeste-s-nikitoj-izmajlovym-razvivayut-neobank-sportbank/279027
