Aequo advised Raiffeisen Bank International and Creative Dock, Austria, on legal issues related to the development, launch and management of Fairo, an all-in-one mobile app for freelancers and small and medium-sized business owners to control their business operations on the go. The app provides users with invoicing and bookkeeping functions, as well as tax reporting, and is combined with the most popular banking services.
The app is available for downloading in the App Store and Google Play.
Fairo is an innovative service developed by Creative Dock and powered by Raiffeisen Bank International. The project launched in Central and Eastern Europe, with Ukraine the first market chosen. Fairo provides Ukrainian freelancers with essential business functions. Simple full digital onboarding, creating professional invoices with a few clicks, tracking payments, automatic notifications about invoice status, sending tax reports and adding bank details into the ledger are all available on-the-go in one intuitive app.
Aequo advised the clients on compliance of the app's features with Ukrainian financial, tax and data protection regulations, assisted with the integration with third-party providers and banking functionality on the Fairo platform, participated in the drafting and negotiating of all underlying documentation with all parties involved, and continued providing legal assistance to release new services on the Fairo app.
“We are extremely happy to have assisted the clients in the development and launch of this first-of-a-kind app in Ukraine, which is designed to help entrepreneurs easily manage their business, which is especially important in the middle of this pandemic. I have no doubts that Fairo will become popular among young Ukrainian entrepreneurs, who could save a lot of time on their daily administrative routine, so they could focus on strategic goals and move the world forward,’’ said Yulia Kyrpa, Partner and Head of Fintech at Aequo.