bill_line’s 2023 Mid-Year Update

bill_line’s 2023 Mid-Year Update: A Tale of Growth Amid Global Trends

The global fintech landscape has been the vanguard of the technological revolution, unlocking economic potentials across borders. Within this global scenario, Ukraine’s fintech market emerged as an early trailblazer. One success story to highlight is bill_line with CEO Artsiom Liashanau, a Ukrainian fintech company founded in 2019, whose unique expertise has positioned it as an influential player in the industry. Before delving into their groundbreaking results in 2023, let’s revisit their previous success and why bill_line stands out as a remarkable case study.

A tale of continuous growth

Last year, during one of the most complex periods for businesses in Ukraine, bill_line underwent a rebranding and revamped their business strategy. These changes have now yielded tangible results:

• A 27% increase in total transactions compared to H1 2022.
• A stable median conversion rate of 92% throughout 2022.
• A 14% growth in the average check on partner projects compared to Q1 2022.

CEO Artsiom Liashanau reflects on the company’s growth strategy: “Every business found ways to adapt in 2022. Some focused on mere survival, but bill_line chose growth through market diversification. We see great prospects in South America. This direction requires significant efforts but such conditions forge strong teams and brands.”

International reach: The South American front

In 2022 and early 2023, bill_line significantly bolstered its Internet-acquiring capabilities in global currencies. They admit that achieving a high conversion rate is a complex task for payment providers, requiring a nuanced understanding of each country’s payment habits.

Liashanau acknowledges the challenges presented by the varying stages of economic development across South American nations, but he sees a reflection of Ukraine’s own fintech growth 8-10 years ago. This shared experience provides bill_line with valuable insights and a relatable perspective.

Strength in unity

bill_line continues to grow in 2023, aiming to solidify positions in new markets. Human Resource Director Oksana Kireeva emphasizes the importance of not only retaining jobs but also strengthening the team with new members. “The Ukrainian labour market since the full-scale invasion has been saturated with job-seeking candidates. We’re proud to not only have preserved jobs but also to have reinforced our team with new talents.”

Navigating the future

bill_line’s achievements in the first half of 2023 must be viewed within the broader context of Latin America’s fintech evolution. Over the past decade, this region has witnessed remarkable innovations in financial technologies that have revolutionized lending, payments, insurance, and compliance. What bill_line embodies is part of a larger trend that has fostered increased competition in the banking sector and financial inclusion. Their expansion and diversification strategy, particularly into South America, aligns with the region’s robust growth in fintech, even amid global challenges such as the pandemic.

bill_line’s venture into these vibrant markets serves as a testament to their vision and adaptability. The lessons they have learned and shared resonate beyond their immediate business context, shedding light on how fintech firms can thrive through innovation, cultural understanding, and strong team dynamics. As regulators in the region continue to adapt and respond to these financial technologies, companies like bill_line are poised to lead and contribute to the flourishing fintech ecosystem in Latin America, enriching both the industry and the communities they serve.