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About Finstella

Finstella Ltd is a financial company, licensed to operate as a Credit Acquiring Company. Finstella has obtained the license from the Central Bank of Cyprus in July 2022. 

Who we are

Our core business currently is the management of a portfolio of credit facilities under the Credit Acquiring Company license. Finstella Ltd is managing its own assets only in the interests of shareholders. The company is managing only its own portfolio in the interests of shareholders and does not manage credit facilities in the interest of third parties.   

The company does not attract any customer funds to carry out its activities.


The shareholders' structure has been approved by the Central Bank of Cyprus under the license granted on 6 July 2022.

The share capital of Finstella Ltd consists of 10.801.469 ordinary shares

Crendaro Investments Limited (a company registered and based in Cyprus) holds 7.889.933 ordinary shares in Finstella Ltd, 73,04% of its share capital.

Mitarva Limited (a company registered and based in Cyprus) holds 2.911.536 ordinary shares in Finstella Ltd, 26,96% of its share capital.

Both the above companies belong to individuals, citizens of the Republic of Cyprus.

Members of the Board of Directors

Dmitry Chudakov holds a degree in International Economics and a Master Degree in International Business Administration. He held managerial positions in the Financial Services Practice Group of Roland Berger Strategy Consultants. Since 2010, he has been serving in various senior management positions in financial sector of Cyprus.

Dr. Czurda holds a Master of Business Administration and a Doctor of Philosophy (Ph.D.). He has more than 30 years of experience in the financial sector and has served in senior management positions including as Managing Director of Raiffeisen Bank International and CEO of Amsterdam Trade Bank and Austrian Anadi Bank AG. He also served as a Board Member for Austrian Hypo Association and Valartis Bank (Austria) AG. In the period 2017-2021 he held the position of Chief Executive Officer of the Hellenic Financial Stability Fund.

Irena Georgiadou holds a BSc in Economics and Politics and is an Associate of the Institute of Chartered Accountants. She worked for a big 4 firm audit firm prior to taking positions in the industry, including  as CFO. She was appointed Chairwoman of the Board of Directors of Hellenic Bank in 2014 until 2016, and thereafter served as a member of the Board until 2020. She has held consulting and board level positions in the financial industry for many years.

Sergey Kovtun holds a degree in International Relations.  Over the past 15 years, he has held several senior positions in the financial industry in different countries, including banks and insurance companies.

Michalis Maratheftis holds a BA on Accounting and Banking and an MA on International Business Management. He held managerial positions in public relations and communications for 17 years in the financial and tourism sectors. Michalis Maratheftis joined the Cyprus Broadcasting Corporation as Director General where he worked until 2020. He then served in senior managerial positions in the financial industry.

After receiving degree in Economics, Dr. Zimarin continued his academic studies to obtain a PhD in 1996 and, later, a Doctorate in Economics in 2015. Dr. Zimarin is the author of several academic publications, including books in topics such as the European economy and European financial system. At the start of his career, he also held several positions with mid-sized banks on various managerial levels. He has held leading managerial positions in the banking industry for a great number of years. Since 2005, Dr Zimarin has been permanently living and working in Cyprus.