Ukrainian AI App Reface Raises €15.2 Million In Non-Dilutive Funding

PvX Partners, a financial services and data intelligence platform for consumer apps, co-invests in companies’ sales and marketing budgets in exchange for a portion of revenue generated by newly acquired users, up to a predefined cap.

Kyiv-based Reface, co-CEO Anton Volovyk says, will use its recent €15.2 million ($18 million) non-dilutive funding from Singapore’s PvX Partners to accelerate growth for its AI-powered consumer apps across creativity, wellbeing, and health.

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Founded in 2018, Reface develops AI-native content creation and lifestyle tools. The company gained early attention when Elon Musk shared a face swap using “made with Reface” on X.com. Originally launched as Doublicat in 2022, the Reface app allows users to replace faces in photos and videos, create AI portraits from selfies and generate voice-over content.

Other apps include Revive, for animating and editing images, Restyle, for transforming styles of photos and videos, and products such as unboring.ai, Ink AI, Letsy, and Memomet. Collectively, Reface apps have been downloaded over 300 million times.

Reface’s apps have been used by celebrities including Britney Spears, Dua Lipa, Justin Bieber, and Snoop Dogg, and the company has partnered with brands like BMW, HALO, JBL, Prime Video, Toyota, and Universal.

Investors include Andreessen Horowitz, Supercell CEO Ilkka Paananen, Unity founder David Helgason, Scooter Braun (TQ Ventures), Adam Leber, and Kyiv-based AI-focused Roosh.

In May 2022, Reface launched the Reface Fund to support Ukrainian citizens and defenders donating €424.2k ($500k) to humanitarian causes.

About Reface

Reface is a Ukrainian company developing AI-powered tools that enable anyone to create engaging, high-quality content, including face swaps, AI portraits and creative media, empowering users and brands worldwide to enhance digital experiences.