Last week the Internet Initiatives Development Fund (IIDF, or FRII in Russian), Russia’s biggest fund for early-stage startups, announced that it invested 200 million rubles (around $3.1 million at the current exchange rate) in the microcredit and factoring startup PimPay.
The fund has received a minority share; no other details of the deals have been disclosed.
The PimPay SaaS solution includes a variety of modules for e-commerce companies to analyze, control or enhance their logistics and financial processes.
PimPay claims to have served more than 2,500 Internet stores since company launch in 2013. Its platform, which is connected to those of 27 logistic service providers, processes some 700,000 parcels and packages every month for a value of more than 3 billion rubles (around $45 million).
PimPay now employs 20 IT developers. The new funding will help the startup develop and promote its products, and enlarge its team.
Source: Oborot.ru
