MODELS OF INVESTMENT SUPPORT FOR FINTECH COMPANY DEVELOPMENT: FOREIGN AND DOMESTIC EXPERIENCE

The article examines foreign and Ukrainian models of investment support for the development of FinTech companies. The main characteristics of these models are identified, including their systemic nature, diversity of capital sources, adaptability, strategic orientation, distribution of investment risks, and ecosystem interaction. The factors influencing their formation are analysed. Venture, corporate, bootstrapping, and alternative models are considered according to the priority source of capital and the specific interaction between participants in the FinTech ecosystem; their main advantages and disadvantages are determined. The models used in the United States, the United Kingdom, China, and Ukraine are analysed. It is established that their specific features depend on macroeconomic stability, financial market development, national innovation capacity, and investment culture. The US model is venture-based but has a hybrid nature, allowing investment sources to change at different stages of company development and ensuring investor participation throughout the innovation life cycle. The British model combines private venture and corporate capital with regulatory support for innovation and supports FinTech start-ups at both early and subsequent stages of development. The Chinese model is characterised by integration into large ecosystems. The Ukrainian model is hybrid and relies mainly on companies’ own funds, venture capital, international grants, state support, and donor financing. Its development is affected by the limited domestic capital market and regulatory risks, which confirms the expediency of Ukraine’s integration into the European financial area. The study proposes directions for improving investment support models for FinTech companies, including diversification of financing sources, wider use of hybrid approaches, stronger partnerships with financial institutions and international ecosystems, and an enhanced role of the state in creating favourable conditions for attracting private capital, and supporting their sustainable growth.