Ukrainian AI app studio Reface secures €15.2 million in non-dilutive user acquisition funding

Kyiv-based AI app studio Reface has secured €15.2 million ($18 million) in non-dilutive user acquisition funding from PvX Partners. This significant investment will fuel the growth of its AI-powered consumer apps, highlighting the continued potential of European AI innovation. The funding model, focused on revenue sharing, allows Reface to expand its user base without diluting existing equity. PvX Partners, a Singapore-based financial services and data intelligence platform, is providing the funding, co-investing in Reface's sales and marketing budget. This strategy involves PvX receiving a share of revenue from newly acquired users, capped at a predefined limit. Reface's product portfolio includes apps like Reface, which allows users to swap faces, Revive for image animation, and Restyle for style changes. The investment will facilitate the expansion of Reface's AI-driven apps across creativity, wellbeing, and health sectors. The company's products have garnered over 300 million downloads, and celebrity endorsements, including partnerships with major brands. The success of Reface, backed by notable investors and its Ukrainian roots, demonstrates the potential for European tech companies to compete on a global scale.