The corporate venture fund of MTS, a leading Russian mobile operator, is investing 125 million rubles (around $1.7 million at the current exchange rate) in personal finance app Coinkeeper.
Coinkeeper claims 350,000 users all over the world whom it helps “make the right financial decisions” from expense forecasting, to advanced analytics, to the management of spending limits. The app features an “intuitive touch interface and gamification system” and “rewards responsible spending and savings.”
Launched in 2011, Coinkeeper is based in St. Petersburg. It is an alumnus of MTS Startup Hub, the company’s accelerator.
MTS launched its corporate venture fund in the spring of last year, expecting to invest around some $15 million at the seed and Series A stages in the course of two years. The fund targets companies from Russia and elsewhere operating in the fields of AI, ML and Big Data; IoT; fintech; cloud and SaaS; edtech; eSports and media.
Source: Rusven
