Aequo acted as legal adviser on the WEAGROBANK project – an innovative digital banking service for farmers
Aequo acted as legal adviser to the fintech company Activitis and JSC “Piraeus Bank ICB” on the structuring and launch of the WEAGROBANK project – an innovative digital banking service for the agricultural sector.
WEAGROBANK* is one of the most innovative examples of banking platforms in Ukraine’s agricultural sector. The project has combined the capabilities of the bank with the WEAGRO digital agricultural ecosystem, developed by Activitis, to create a new model for accessing financial services, which has the potential to become a benchmark for the further development of sector-specific fintech solutions in the Ukrainian market. The launch of the service opens up new opportunities for Ukrainian farmers to manage their funds more effectively and for the further digital transformation of the agricultural sector.
The launch of WEAGROBANK required wide-ranging legal expertise on issues arising at the intersection of banking regulation, fintech and digital platforms. The Aequo team provided legal support for the project at all key stages of its development, including structuring the cooperation model between the bank and the fintech platform, drafting contractual documentation, and advising on tax, competition and certain intellectual property matters.
A multidisciplinary team from Aequo, led by Executive Partner Yulia Kyrpa and Counsel Oleg Krainsky, worked on the project. Senior Associate Dmytro Shudrenko, Associates Sofiia Voloshanivska, Kostiantyn Dovhan and Daryna Zhuravel (banking and finance law), Counsel Vasyl Mishchenko (tax law), Patent attorney Iryna Serdiuk (intellectual property law), as well as Counsel Oleksandr Diakulych and Associate Vitalii Savkov (competition law) were involved on the project.
“WEAGROBANK is one of those projects that demonstrate the evolution of financial services from traditional banking products to integrated digital solutions. Such partnerships between banks and technology platforms are setting new standards for customer access to financial services and creating added value for entire sectors of the economy,” commented Yulia Kyrpa, Executive Partner at Aequo.
Over the past five years, Aequo has supported a number of landmark fintech and embedded finance projects in Ukraine, including the launch of the FAIRO mobile app, developed by Raiffeisen Bank International and Creative Dock, as well as the Kasta SuperApp in partnership with Bank Credit Dnipro and the Kasta marketplace.
* WEAGROBANK is not a banking institution. Banking services within the platform are provided by JSC “Piraeus Bank ICB” under NBU banking licence No. 91 dated 17 October 2011.