Investor Profile: Flyer One Ventures — Thesis, Cheque Size & How to Apply

Flyer One Ventures funding, often shortened to F1V, is one of the most founder-friendly routes to capital for software startups from Ukraine and Central and Eastern Europe. This guide explains how to get funding from Flyer One Ventures and what its thesis demands. Flyer One Ventures invests only in purely software companies, with an explicit traction bar: an MVP and at least $10,000 in monthly recurring revenue, or other solid proof of product-market fit.

Thesis and investment focus

Flyer One Ventures funds startups with founders from Europe and North America building global companies at pre-seed, seed and Series A stages, with most portfolio companies at seed stage. It focuses on business-to-business SaaS, edtech, mobile apps and foodtech, avoiding hardware, crypto and gaming. Companies must have a minimum viable product, at least $10,000 in monthly recurring revenue or equivalent product-market-fit proof, and full-time co-founders. Launched in 2018, its team sits in Kyiv, London and Warsaw.

Sectors, stages and cheque size

Flyer One Ventures invests at pre-seed and seed stages, with some Series A participation, and invests up to $1.5 million in software startups at those stages. Its average cheque has been reported at between $150,000 and $500,000. In 2023 it reviewed 1,012 startups and backed 15; in 2024 it spoke with 1,052 and backed nine, about a 1% conversion rate.

Fund size and track record

Flyer One Ventures announced its new €50 million Fund V in July 2025, backed by the International Finance Corporation (IFC) and the European Bank for Reconstruction and Development (EBRD), which committed €5 million and €6.5 million respectively to the first closing, the EBRD commitment potentially rising to €10 million. To date it has invested nearly $45 million across more than 90 startups, valued at $4.4 billion by end-2024. Exits include VOCHI, acquired by Pinterest, and Greenscreens, acquired by Triumph Financial.

Notable portfolio

Flyer One Ventures' portfolio includes Fintech Farm, building neobanks in emerging markets, Liki24, improving last-mile delivery of health products, Jome, an AI platform simplifying new-home buying, and Mate academy, training people for technology jobs globally. In November 2023 it co-led Scalestack's $1 million round. Its 2023 deals included Filmustage and AiSDR; 2024 deals included RemotePass and Tilta.

Partners and programmes

Flyer One Ventures is led by general partner Vital Laptenok, a partner at Genesis Tech and co-founder of BetterMe, co-founder and partner Oleksii Yermolenko, formerly of Deloitte and KPMG in audit and mergers and acquisitions, and partner Elena Mazhuha, previously at Citibank Ukraine, TA Ventures and Startup Wise Guys. It runs an internal platform for portfolio companies with memos and checklists on models, unit economics and pitch decks.

How to apply for funding from Flyer One Ventures

To apply, founders can email [email protected] or fill in the firm's pitch form, and the firm stresses reading its thesis first and explaining in a cold outreach why you are a good fit. Warm introductions from friendly venture funds or portfolio founders are the most efficient route, since prescreening is omitted then. Before writing, check the bar: a working MVP, at least $10,000 in monthly recurring revenue or equivalent product-market-fit proof, full-time co-founders, and a purely software business. If you clear it, lead with traction, not vision.