ZEN.COM has finalized the acquisition of PINbank, thereby entering the Ukrainian market and expanding its operations with local banking infrastructure. The company has announced an investment of over EUR 20 million in developing its activities in Ukraine. This marks another step in building the company’s international financial ecosystem and its expansion across the Central and Eastern European region.
The transaction was carried out through a competitive process led by the Deposit Guarantee Fund (DGF), in which ZEN.COM was selected as the investor offering the most comprehensive plan for the bank’s development and the protection of its customers’ interests. As a result, the company has gained access to local banking infrastructure, which will serve as the foundation for further growth in the market.
“The agreement with ZEN.COM confirms the effectiveness of our bank restructuring process and the continued interest of international investors in the Ukrainian banking sector,” said Olga Bilai, Managing Director of the Deposit Guarantee Fund. “We expect that the entry of a global fintech player will increase competition in Ukraine’s financial services market and improve access for customers.”
Entering Ukraine is part of ZEN.COM’s long-term strategy, focused on developing technology-driven financial services and connecting local markets with the global financial system. For the company, this is one of the key directions for growth in the region.
“Ukraine has significant growth potential and is a strategically important market for us,” said Michał Bogusławski, CEO Europe, ZEN.COM. “The acquisition of PINbank is a natural step in executing our strategy to build a modern, pan-European financial platform based on digital payments and cross-border services.”
In practice, this means transforming PINbank into a modern, technology-driven financial institution that integrates local operations with ZEN.COM’s global infrastructure. The company plans to develop digital banking, modern payment solutions, and cross-border services, with a particular focus on multi-currency solutions, including development based on the Ukrainian hryvnia (UAH).
A key element of this strategy is leveraging ZEN.COM’s experience in handling international financial flows and building products for both individual and business customers. This will allow the bank to gradually expand its offering while maintaining operational stability.
From the customers’ perspective, the acquisition does not involve any operational changes. The company emphasizes that all deposits and funds remain fully secure, and continuity of operations is an absolute priority.
“The protection of depositors and customers remains our top priority. This transaction ensures the bank’s continuity and the safety of funds,” said Viktoriia Stepanets, Deputy Managing Director of the Deposit Guarantee Fund. PINbank customers do not need to take any action, and all existing agreements remain in force.
ZEN.COM also plans to invest over EUR 20 million in developing its operations in the Ukrainian market. The funds will be allocated to infrastructure modernization, technology implementation, and the development of digital banking and payment services.
The investment supports the integration of Ukraine’s financial sector with European markets and strengthens ZEN.COM’s presence in Central and Eastern Europe.
