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AEQUO Advises Raiffeisen Bank International and Creative Dock on the Launch of FAIRO Application

07/ 09/ 2020
  AEQUO advised Raiffeisen Bank International and Creative Dock, Austria on legal issues related to the development, launch and management of FAIRO, an all-in-one mobile app for freelancers and small and medium-sized business owners to control their business operations on the go. Currently available version provides users with invoicing and bookkeeping functions. Other essential services such as tax reporting will be available in September 2020. These will be combined with the most popular banking services by the end of the year. FAIRO is an innovative service developed by Creative Dock and powered by Raiffeisen Bank International. The project will be launched in Central and Eastern Europe, the first market chosen is Ukraine, and will be a groundbreaking service in the region. FAIRO provides Ukrainian freelancers with essential business functions. Simple full digital onboarding, creating professional invoices with a few clicks, tracking the payments, automatic notifications about the invoice status, sending tax reports and adding the bank details into the ledger is available on the go in one intuitive app. Due to complexity of the project AEQUO s dedicated team was comprised of fintech, tax, IP and IT law experts led by Yulia Kyrpa, partner and head of fintech practice group. The team also included Denys Kulgavyi, of counsel, Bohdan Dmukhovskyy, counsel, Mykyta Polatayko, Head of IT practice group, Vasyl Mischenko, senior associate, Olesia Mashtaler, Anna Potapova, associates and Olga Reznytska, patent and trademark manager. AEQUO advised the Clients on compliance of the apps features with Ukrainian financial, tax and data protection regulations, assisted with integration of third-party providers and banking functionality on FAIRO platform, participated in drafting and negotiating all underlying documentation with all parties involved and keeps providing legal assistance to release new services of FAIRO app. We are extremely happy to have assisted the Clients in the development and launch of this first-of-a-kind app in Ukraine designed to help entrepreneurs to easily manage their business, which is especially important in the middle of this pandemic time. I have no doubts that FAIRO will become popular among young Ukrainian entrepreneurs, who would save a lot of time on their daily administrative routine to focus on strategic goals and move the world forward, comments Yulia Kyrpa, partner and head of fintech in AEQUO.   About AEQUO AEQUO is an advanced industry-focused Ukrainian law firm made up of highly qualified, internationally recommended lawyers who work proactively to help their clients reach their business goals. Backed up by solid industry expertise and a thorough understanding of business we develop innovative strategies and provide efficient solutions to the most complex and challenging matters. AEQUO provides integrated legal support in areas such as antitrust and competition, banking and finance law, intellectual property, corporate and commercial law, mergers and acquisitions, taxation, litigation and international arbitration, and capital markets. The list of AEQUO’s representative clients includes leading Ukrainian and international companies and organizations, such as Agroprosperis, Apax Partners, Apollo, Bunge, DuPont, EBRD, European Commission, Google, Inditex Group, NCH Capital, Pioneer Hi-Bred International, Samsung Electronics, Sandvik, Synthon, Tetra Laval, Ukrainian Redevelopment Fund, UniCredit Group, Vodafone Ukraine etc. AEQUO has been named the Most Innovative Law Firm of the Year in Ukraine by IFLR Europe Awards 2018, Law Firm of the Year in Russia, Ukraine and the CIS by The Lawyer European Awards 2017 and one of the most innovative law firms in Europe according to the FT Innovative Lawyers 2015-2019. To find out more, visit https://aequo.ua/. For additional information please contact Tatiana Bogila Bogila@aequo.ua, +380 44 490 91 00 About FAIRO FAIRO, created by the Creative Dock Austria, is a new all-in-one mobile application for freelancers and small and medium-sized business owners to control their business operations on the go. To find out more, visit https://www.fairo.com.ua/. About Raiffeisen Bank International FAIRO is owned entirely by Raiffeisen Bank International, a leading corporate and investment bank in Austria, and Central and Eastern Europe (CEE). We are the most recommended financial services group, with around 46,000 employees servicing 16.7 million customers through 2,000 business outlets, by far the largest part thereof in CEE. We are focused on a mission to transform continuous innovation into superior customer experience as we want to enable our clients to achieve more in their lives and businesses. To find out more, visit https://www.rbinternational.com.

AEQUO advised Raiffeisen Bank International and Creative Dock, Austria on legal issues related to the development, launch and management of FAIRO, an all-in-one mobile app for freelancers and small and medium-sized business owners to control their business operations on the go. Currently available version provides users with invoicing and bookkeeping functions. Other essential services such as tax reporting will be available in September 2020. These will be combined with the most popular banking services by the end of the year.

FAIRO is an innovative service developed by Creative Dock and powered by Raiffeisen Bank International. The project will be launched in Central and Eastern Europe, the first market chosen is Ukraine, and will be a groundbreaking service in the region. FAIRO provides Ukrainian freelancers with essential business functions. Simple full digital onboarding, creating professional invoices with a few clicks, tracking the payments, automatic notifications about the invoice status, sending tax reports and adding the bank details into the ledger is available on the go in one intuitive app.

Due to complexity of the project AEQUO ‘s dedicated team was comprised of fintech, tax, IP and IT law experts led by Yulia Kyrpa, partner and head of fintech practice group. The team also included Denys Kulgavyi, of counsel, Bohdan Dmukhovskyy, counsel, Mykyta Polatayko, Head of IT practice group, Vasyl Mischenko, senior associate, Olesia Mashtaler, Anna Potapova, associates and Olga Reznytska, patent and trademark manager.

AEQUO advised the Clients on compliance of the app’s features with Ukrainian financial, tax and data protection regulations, assisted with integration of third-party providers and banking functionality on FAIRO platform, participated in drafting and negotiating all underlying documentation with all parties involved and keeps providing legal assistance to release new services of FAIRO app.

“We are extremely happy to have assisted the Clients in the development and launch of this first-of-a-kind app in Ukraine designed to help entrepreneurs to easily manage their business, which is especially important in the middle of this pandemic time. I have no doubts that FAIRO will become popular among young Ukrainian entrepreneurs, who would save a lot of time on their daily administrative routine to focus on strategic goals and move the world forward”, comments Yulia Kyrpa, partner and head of fintech in AEQUO.  

About AEQUO

AEQUO is an advanced industry-focused Ukrainian law firm made up of highly qualified, internationally recommended lawyers who work proactively to help their clients reach their business goals. Backed up by solid industry expertise and a thorough understanding of business we develop innovative strategies and provide efficient solutions to the most complex and challenging matters.

AEQUO provides integrated legal support in areas such as antitrust and competition, banking and finance law, intellectual property, corporate and commercial law, mergers and acquisitions, taxation, litigation and international arbitration, and capital markets.

The list of AEQUO’s representative clients includes leading Ukrainian and international companies and organizations, such as Agroprosperis, Apax Partners, Apollo, Bunge, DuPont, EBRD, European Commission, Google, Inditex Group, NCH Capital, Pioneer Hi-Bred International, Samsung Electronics, Sandvik, Synthon, Tetra Laval, Ukrainian Redevelopment Fund, UniCredit Group, Vodafone Ukraine etc.

AEQUO has been named the Most Innovative Law Firm of the Year in Ukraine by IFLR Europe Awards 2018, Law Firm of the Year in Russia, Ukraine and the CIS by The Lawyer European Awards 2017 and one of the most innovative law firms in Europe according to the FT Innovative Lawyers 2015-2019.

To find out more, visit https://aequo.ua/.

For additional information please contact Tatiana Bogila

Bogila@aequo.ua, +380 44 490 91 00

About FAIRO

FAIRO, created by the Creative Dock Austria, is a new all-in-one mobile application for freelancers and small and medium-sized business owners to control their business operations on the go. To find out more, visit https://www.fairo.com.ua/.

About Raiffeisen Bank International

FAIRO is owned entirely by Raiffeisen Bank International, a leading corporate and investment bank in Austria, and Central and Eastern Europe (CEE). We are the most recommended financial services group, with around 46,000 employees servicing 16.7 million customers through 2,000 business outlets, by far the largest part thereof in CEE. We are focused on a mission to transform continuous innovation into superior customer experience as we want to enable our clients to achieve more in their lives and businesses. To find out more, visit https://www.rbinternational.com.

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