Ukrainian fintech company Activitis, a partner of Piraeus Bank, plans to raise $85mn to expand its WEAGRO and eDilo digital financial ecosystems, while contributing a further $15mn of its own funds, reported Ukraine Business News.

Over the next three years, Activitis expects to provide $582mn in financing to suppliers and buyers through its B2B Buy Now Pay Later and eInvoicing services. The programme is aimed at around 1mn micro, small and medium-sized enterprises (MSMEs) in Ukraine that have limited access to traditional bank lending.

The company also plans to attract 3,000 active users to WEAGROBANK and issue more than 10,000 business cards to small businesses. It aims to increase cross-border supply chain financing to 20% of its loan portfolio.

Activitis launched eDilo in March 2024 as a B2B Buy Now Pay Later platform for MSMEs. In the same month, it launched WEAGRO, an agricultural financing platform targeting farms with land banks of 50 to 750 hectares, as well as suppliers of agricultural inputs and technical resources.

WEAGROBANK, developed in partnership with Piraeus Bank, operates on the bank's infrastructure and forms part of the wider WEAGRO ecosystem. The platform combines banking services, financing and digital tools for agricultural producers in a single online environment.

Mykhailo Sergienko, head of digital banking and product development at Piraeus Bank, said partner financing would help accelerate the expansion of WEAGRO and WEAGROBANK by enabling the platforms to add new services and reach more agricultural businesses.