Leading Russian consumer lender TCS Group, which operates Russia’s only pure online bank Tinkoff, will invest in the fintech project launched in Europe by two of its managers.
As reported by bne IntelliNews, the capitalisation of TCS topped $5 billion in London this week. The bank’s investment case is seen as solid, as it has transformed from credit card monoliner into an ecosystem of financial and lifestyle services.
Now TCS will be the key investor in the fintech company founded by current managers Artem Yamanov and Alexander Emeshev (business development and new products development, respectively), who will also act as co-investors in the project. The company is planned to be launched this year and will be providing non-credit financial products to European retail clients.
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