Ukrainian AI fintech startup chooses Doha as base after securing Qatari backing
The startup GRO, founded by Mariia Shevchenko and a team of Ukrainian and German co-founders, is relocating to Doha with support from a new Qatari venture fund.
Ukrainian AI-powered financial technology startup GRO has announced its decision to establish its headquarters in Doha, Qatar, after securing investment from local investors. The company, founded by Mariia Shevchenko together with Ukrainian and German co-founders, first connected with potential investors at the Web Summit Qatar event. Shevchenko, who plans to relocate to Qatar full-time to lead the company's next growth phase, noted that building relationships with investors was crucial. The move will support GRO's expansion across the Middle East.
The investment was announced alongside the launch of a new venture capital fund, GrowthX Capital, founded by Snoonu CEO Hamad Al-Hajri. The fund plans to invest QAR 500 million (€119 million) in startups over the next five years. The launch event was held at the Qatar Chamber and attended by Qatar Financial Centre CEO Mansoor Rashid Al-Khater and Dr. Olga Rivina, co-founder and chairperson of the Ukrainian Business Forum in Qatar.
GRO is developing an AI-powered financial assistant that helps users manage spending, make financial decisions, and improve financial literacy while keeping personal financial data private. The platform is aimed at both adults and families, with parental control features also under development. Privacy remains a priority for the company; Shevchenko emphasized that the system is built as a closed system to ensure financial privacy. Members of the German team bring expertise in privacy and parental control systems.
Ukraine's ambassador to Qatar, Andrii Kuzmenko, welcomed the investment, calling it a sign of growing business ties between the two countries. Al-Hajri expressed confidence that GRO has the potential to become a future "unicorn" — a startup valued at over $1 billion (€866 million).
