Fintech Association of Georgia

What Fintech Association of Georgia does

Fintech Association of Georgia (FIA) is a non-profit industry association founded in 2020 and headquartered at 10 Asatiani Street in Tbilisi, Georgia. It functions as the unified representative body for the Georgian fintech sector, serving approximately 30 member companies through licensing mediation, regulatory advocacy, training, and international engagement. The association is led by Chairman David Kikvidze and operates with a small core team of 5 employees.

FIA's core offering is a portfolio of regulatory support and professional development services rather than a unified technology product. Its principal line is licensing mediation with the National Bank of Georgia, covering virtual assets service provider licensing, open banking permissions, and tax service provider licensing — services that manage the full cycle from project development to regulatory approval. Complementary offerings include AML training, Open Banking Workshops, educational programs on payments, banking, and cryptocurrency delivered in partnership with the Soltesz Institute (launched September 2024), and large-scale hackathons organized with Alte University, the Estonian Embassy, and GITA. FIA also convenes an Annual Offsite with the National Bank of Georgia, the Banking Association of Georgia, the Ministry of Economy, and USAID, and has been represented at international fintech events including UK Fintech Week, Dubai FinTech Summit, Istanbul Fintech Week, FINTEX Summit Baku, and Warsaw Finance Week.

FIA's revenue model mirrors a professional services and membership association: monetization comes from licensing mediation fees (quote-based), event participation fees, training programs, and membership contributions, with no publicly disclosed pricing. The go-to-market is community-led, primarily executed through direct engagement with member fintech companies in Tbilisi and event-driven international outreach. Recent strategic momentum in 2024–2025 includes progress on the National Fintech Development Strategy, the launch of Crowdfunding and AI Sandbox pilots, and a joint policy document with USAID and ISET on bank-fintech cooperation — positioning FIA as the central convening interlocutor between Georgian fintech and both domestic and international stakeholders.

Name

Fintech Association of Georgia

Legal name

Fintech Association of Georgia

Website

https://fintechs.ge

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

Fintech Association of Georgia (FIA) is a non-profit industry association founded in 2020 in Tbilisi, serving as the unified voice for around 30 Georgian fintech member companies through licensing mediation with the National Bank of Georgia, regulatory advocacy, training, and international ecosystem engagement.

Ownership category

akta.pro rank

Product category

Industry Association Services

NAICS

Depository Credit Intermediation (5221)

SIC

International Affairs (9721)

akta.pro primary industry

SME, Microfinance & Financial Inclusion Facilities (BPADACAI)

akta.pro secondary industries

Financial Services Regulators (Banking, Securities, Insurance) (BPAIAOAK), Account Aggregation & Connectivity (Multi-bank linking) (FSAGACAA)

Keywords

• Fintech industry association
• Regulatory licensing services
• Fintech advocacy
• Fintech education programs
• Industry networking events

Headquarters

HQ city

Tbilisi

HQ country

Georgia

HQ region

Asia

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Membership Services and Licensing Mediation: FIA generates revenue through licensing mediation services for fintech companies seeking various licenses from the National Bank of Georgia, including virtual assets service provider licensing, open banking permissions, and tax service provider licensing. Additional revenue streams include event participation fees, training programs, and membership contributions.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

Fintech Association of Georgia is a non-profit industry association that mediates licensing between fintech companies and the National Bank of Georgia for virtual assets, open banking, and tax service provider licenses, and delivers educational programs, AML training, open banking workshops, and hackathons in partnership with organizations such as the Soltesz Institute and Alte University. Its core function is sector representation, regulatory navigation support, and ecosystem building for fintech companies operating in Georgia.

Product overview

The Fintech Association of Georgia (FIA) is a non-profit industry association that serves as the united voice of fintech companies in Georgia. Rather than offering a unified software product, FIA provides a portfolio of regulatory support and professional development services including licensing mediation for virtual assets, open banking, and tax service providers with the National Bank of Georgia; educational programs on payments, banking, and cryptocurrency developed with the Soltesz Institute; AML training; Open Banking Workshops; and organizes fintech hackathons and industry events. These services function as a support ecosystem for fintech companies rather than a technology platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Licensing Services for Virtual Assets Service Providers

Quantifiable outcome

• Expanded international engagement through partnerships in UK Fintech Week, Dubai FinTech Summit, Istanbul Fintech Week, and FINTEX Summit Baku
• +2 more outcomes

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Ten partnerships are on record, tiered core, flagship and minor.

• Soltesz InstitutecoreStrategic or Co-development Partner · 1 September 2024Strategic partnership aimed at enhancing educational resources in payments, banking, and cryptocurrency. The collaboration officially launched in September 2024, offering both online and onsite learning opportunities to individuals and businesses across Georgia. Combines Soltesz Institute's international banking expertise with FIA's local insight and network.
• National Bank of GeorgiaflagshipStrategic or Co-development PartnerPrimary regulatory partner for the fintech sector. The National Bank collaborates with FIA on the Annual Offsite, regulatory advancements, and licensing processes. FIA works closely with the regulator on the National Fintech Development Strategy, Crowdfunding Sandbox, and AI Sandbox pilot projects.
• US Aid (USAID)coreStrategic or Co-development PartnerUSAID, through the USAID Financial Innovation Program, participates in FIA events and initiatives. Joint cooperation on policy documents addressing challenges in the fintech sector and prospects for cooperation between commercial banks and fintech companies.
• ISET (International School of Economics)minorStrategic or Co-development PartnerCollaborated with FIA and USAID on a policy document presenting challenges in the fintech sector and prospects for cooperation between commercial banks and fintech companies.
• Alte UniversitycoreStrategic or Co-development PartnerPartnership to organize large-scale fintech hackathons, including one in October with a prize fund of 30,000 GEL targeting bachelor's and master's students aged 18-28.
• Estonian EmbassyminorStrategic or Co-development PartnerProvides financial support for FIA-organized hackathons as part of Estonia's development cooperation with Georgia's fintech ecosystem.
• GITA (Georgian Innovation and Technology Agency)coreStrategic or Co-development PartnerGovernment innovation agency providing financial support for fintech hackathons organized by FIA, promoting technological innovation and talent development in Georgia.
• Banking Association of GeorgiacoreStrategic or Co-development PartnerAttends FIA Annual Offsite meetings and participates in discussions on fintech sector challenges and opportunities for strengthening the sector.
• Ministry of Economy of GeorgiacoreStrategic or Co-development PartnerGovernment ministry participates in FIA Annual Offsite, contributing to discussions on regulatory and business promotion programs for the fintech sector.
• TresconminorGTM or Marketing PartnerInternational event organizer cooperation for FIA representation at the Dubai FinTech Summit, providing access to over 20 regulatory authorities, 10+ banks, 40+ fintechs, and 20+ blockchain organizations.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Emerging players

• Africa Fintech Network: Pan-African network of national fintech associations. Comparable to FIA in its association-of-associations model and mission to support emerging-market fintech development, though broader in geographic scope.

Regional players

• FinTech Association of Japan: Japan's national fintech industry body, representing members to regulators and fostering ecosystem growth. Comparable to FIA in structure and advocacy role, with a similarly formal relationship with domestic financial regulators.
• Fintech Valley Switzerland: Swiss industry association for fintech, supporting ecosystem development and policy advocacy. Comparable to FIA in its role as a national fintech convener with regulatory access.
• Azerbaijan Fintech Center (or Azerbaijan Fintech Association equivalents): Fintech industry body in Azerbaijan, a regional peer that FIA engages with directly through FINTEX Summit Baku. Comparable to FIA as a neighboring Caucasus/Caspian fintech ecosystem convener.
• Australia FinTech: Industry association representing Australian fintechs to government, regulators, and international partners. Comparable to FIA in mission and member-services model, operating in a different but analogous developed fintech market.
• Netherlands Fintech Association: Dutch industry body for fintech, focused on connecting members with regulators, banks, and international partners. Comparable to FIA in its trade-association function and ecosystem-building approach.
• Turkish Fintech Association (Fintek Girişim ve Birliktelik Platformu): Turkish fintech industry platform connecting members with regulators and international partners. Comparable to FIA in mission and in being a regional fintech association that FIA engages with at Istanbul Fintech Week.

Direct peers

• Innovate Finance (UK): UK-based fintech industry association representing the British fintech sector with the government and regulators. Directly comparable to FIA as a national fintech trade body focused on advocacy, regulatory engagement, and ecosystem development.
• Singapore FinTech Association: National fintech industry association in Singapore serving as the unified voice for fintech firms. Comparable to FIA in mission, membership model, and role bridging members with regulators and international partners.
• Estonian Fintech Association (Estonia FinTech): National fintech industry association in Estonia, a key reference ecosystem for Georgia given the Estonian Embassy's active support of FIA hackathons. Comparable as a small-country fintech trade body with strong regulator alignment.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/fintech-association-of-georgia

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Fintech Association of Georgia