The invest abroad trend among Russian financial institutions was demonstrated again yesterday by a $7.5 million capital injection in Eccentex, a California-based cloud computing solutions provider for dynamic case management.
The round of financing was led by VTB Capital, the investment arm of VTB Group, a leading Russian state-controlled financial group. Neither the terms of the deal nor identity of the other investors were disclosed.
Eccentex will open a representative office in Russian in the nearest future, said Aidar Kaliev, Head of VTB Capital’s Venture Business, in an exchange with East-West Digital News. “This office will be responsible for running local R&D activities and cover CIS market in terms of sales and business development.”
“We see a lot of market opportunities here for Eccentex,” Kaliev added. “Among the most promising markets are financial services, insurance, and government organizations. Eccentex is already discussing several pilot projects with Russian clients.”
VTB Capital already owns stakes in such international companies as Returnil, an international provider of security solutions; Beau Laboratories, a developer of innovative 3D software; and AiHit, a London-based provider of company data to the business information, market research and lead generation industries.
Founded in 2006, Eccentex seeks to help organizations in banking, insurance, healthcare and government around the world to deploy solutions faster while reducing costs and improving critical customer service outcomes.
