I Built a €500K Neobank for Immigrants—It Didn't Go As Planned

Imagine moving to a new country with no local credit history, no proof of address, and no easy way to open a bank account. You have a job lined up, but no way to receive your salary. You need a permanent address to open a bank account, but you need a bank account to rent an apartment.That was my experience as an immigrant in Portugal. I thought, ‘This is a massive problem—I can fix it.’ Six months, €500K, and 5,000 users later, my neobank Relocare was dead.

Who am I

I’m Dmitry, a fintech entrepreneur with 13 years in the industry. My company, Finbox Solutions, helps startups scale financial platforms. With multiple fintech ventures under my belt, I thought I was ready to build a neobank. I was wrong.With multiple ...