Ukrainian Reface raised $18 million from PvX Partners to expand its user audience.

Company Reface attracted $18 million to expand user base

Ukrainian tech company Reface received $18 million investment from PvX Partners, which will be directed towards marketing and attracting new users.

The Reface team noted that this funding will allow them to accelerate their development, increase the number of users, and speed up the implementation of new technologies. However, the funds will not be used to increase the company’s capital, but exclusively for user acquisition strategies, which has already become a popular trend in the Ukrainian market. Among the companies that used a similar funding model is Grammarly, which received $1 billion from General Catalyst.

PvX Partners fund specializes in supporting gaming companies and consumer app developers through unconventional financing methods that allow scaling through marketing. This is important for Reface as, after the previous financial round of $6.5 million from a16z, the company faced certain difficulties in attracting new investments and changing the development strategy.

A feature of the financial model from PvX Partners is that it does not pressure the company’s main operating budget, and profit can be achieved within 2-3 years without waiting for an IPO.