Ukrainian AI fintech startup GRO moves to Doha after securing Qatari backing

Ukrainian AI fintech startup GRO, founded by Mariia Shevchenko together with Ukrainian and German co-founders, has chosen Doha as its headquarters after securing support from Qatari investors. The company first connected with local investors at Web Summit Qatar.

Shevchenko, who plans to relocate to Qatar full-time to lead the company's next growth phase, told Euronews: "We came here, met investors and started building relationships." The move will support the company's expansion across the Middle East.

The investment in GRO was announced on Thursday alongside the launch of GrowthX Capital, a new venture fund aiming to attract international founders to Qatar. The fund's founder, Snoonu CEO Hamad Al-Hajri, said it plans to invest QAR 500 million (€119mn) in startups over the next five years.

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 key priority. "It needs to be private for your finances," Shevchenko said, adding that the team is working on a closed-system architecture.

Ukraine's ambassador to Qatar, Andrii Kuzmenko, welcomed the investment, describing it as a sign of growing business ties between the two countries. Al-Hajri said he believes GRO has the potential to become a "unicorn" — a startup valued at over $1bn (€866mn).