Horizon Capital has added to its financial sector portfolio after acquiring a significant share of Ukrainian collection agency UkrFinance. Horizon acquired UkrFinance through an investment from its Europe Growth Fund II. The fund’s extensive portfolio includes other financial sector companies including such well-known names as Fidem Life Insurance(Ukraine), MTBank (Belarus), Platinum Bank, Universalna Insurance, and Fincombank (Moldova).
The investment isn’t totally unexpected, as Horizon representatives made it known last year that they were interested in getting more involved in the highly fractured Ukrainian financial sector.
UkrFinance is one of the industry leaders in Ukraine’s debt collection market.
It is the country’s largest such business in terms of overall volume, buying up bad debt from utilities, telecoms, banks, and other businesses.
The company is active in every region throughout the Ukraine and utilizes modern technology by providing an automated process on both sides of the debt collection process. Furthermore, their platform has been designed to be highly scalable which makes it usable and efficient regardless of the size of an individual debt portfolio. Debtors have the option of making payments online with a debit or credit card, at an OSMP terminal, or at any Ukrainian bank that partners with the company.