Running a startup through war: lessons from a Ukrainian founder

Executive overview

Running a business during active conflict forces decisions that peacetime founders rarely face. Alyona Mysko, CEO of Fuel Finance, kept her B2B fintech startup operational through bomb sirens, team relocations, and an economy in freefall.

Her core tools: radical transparency with her team, a strong pre-existing mission, and financial reserves built before the war.

A clear mission — saving businesses from financial mistakes — gave her team a reason to keep working when everything else was uncertain.

Keeping the team operational

• Paid salaries on day one of the war to reduce financial anxiety
• Used Slack continuously for the first three to four days to maintain team cohesion
• Held one-on-ones with every team member to assess needs
• Relocated 90% of the team to Western Ukraine within days
• Executive team maintained visible positive attitude to lower fear for others
• One engineer covered for another who was in a more dangerous area
• One team member joined the military; no one was hurt

Managing clients and revenue

• Half the client base was US-based, which provided stability when Ukrainian clients paused
• Delivered results to US clients with only a few days' delay; clients were surprised
• Several US clients proactively offered additional payments and relocation help
• Fuel Finance was profitable before the war and held cash reserves — this bought time
• Shifted to break-even during the war; expected recovery month by month
• Launched on Product Hunt during the war while working from bomb shelters; won product of the day and generated 50+ leads

Building for the broader Ukrainian ecosystem

• Created a financial platform matching Ukrainian businesses with 80 local CFOs and financial managers
• Co-built a donation platform (with Lift 99) for businesses that pivoted to wartime production (e.g., shoe companies making military boots)
• Ukraine's Ministry of Digital Transformation assembled a 100,000-person IT Army coordinating digital support
• Starlink deployment — brokered in part through the digital ministry — became a critical communications lifeline
• The whole country shifted to a startup operating model: see a problem, act without waiting for top-down instruction

On western businesses and what listeners can do

• Businesses that exited Russia gained trust and affection in Ukraine; those that stayed are seen as financing the war
• SpendWithUkraine.com lists Ukrainian companies across fashion, tech, services, and entertainment
• Buying Ukrainian products is framed as a direct form of support alongside financial donations