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Interview with David Kikvidze from the FinTech Association of Georgia

David Kikvidze executive chairman

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Finnovating (F): Can you do brief introduction of your association?

David Kikvidze (DK): In recent years, the FinTech sector has been developing very actively in Georgia. In 2012 the first FinTech companies appeared in the country, since then they have been actively developing and today this field is represented by a variety of companies.

Development footprint on the agenda was the formation of an organization that would contribute to the development of this field and would act as an intermediary between the market players and regulators. Thus in 2020 the Georgian FinTech Association was established.

FinTech Association of Georgia is the first non-profit organization to protect the interests of FinTech companies in Georgia. Our goal is to create and develop the FinTech ecosystem, introduce technological innovations and help found and develop FinTech startups. Exchange and establish connections between companies, legislators and the wider public. Our founders are pioneers of the FinTech sphere of Georgia, the first persons who were started doing business in this sector in Georgia: Lasha Eredeli-Bzarashvili, Gia Tarieladze and Shota Kekelia. I am the Executive Chairman of the association.

 

(F): How’s your association organized? Who forms de directory board? 

(DK): The governing body of the association is the Supervisory Board, which includes three members of the board: Lasha Eredeli-Bzarashvili (the head of the board), Gia tarieladze, Shota Kekelia.

 

(F): How many members does it have? 

(DK): At this moment the association has 10 active members.

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(F): What advantages and benefits do you offer your members? 

(DK): We offer our members support, protection of interests and advocacy. We also offer several services: consulting services, legal advice, business modeling, market research, communication with international partners, trainings, field examination, management consulting and access to conferences.

 

(F): What would you like to say to your members about the partnership with Finnovating?

(DK): A partnership with Finnovating is an excellent opportunity to introduce yourself to the FinTech world, get new experience, get new knowledge, explore new possibilities, get new partners, clients and vendors and explore international markets.

 

(F): What would you say to other associations around the world about your partnership agreement with Finnovating?

(DK): A partnership with Finnovating opens the international gates for your members. Give them a chance to explore new challenges and cooperate with companies who have huge experience and whose activities can inspire them to reach their goals.

 

(F): Where do you see yourself in 10 years’ time? 

(DK): In 10 years, we want to see Georgia as a leading FinTech market in the region, in combination with the unified FinTech space of the world, which serves millions of customers and businesses worldwide. We basically want to be an international hub.

 

(F): How do you think Finnovating can help you to achieve that goal?  

(DK): I think it can help us, because as I mentioned before, your platform is the gateway to the international market, which we must definitely open to attract attention, use all the opportunities you offer and of course get the support that is so important for emerging markets like us.

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