Admitad, an international affiliate network with Russian roots, announced two acquisitions this month, targeting Russian startups CheckScan and Pampadu.
The previous has developed a QR code scanner for receipts that allows customers to analyze their spending and compare prices across various outlets. CheckScan claims to processes over 2 million receipts a day, serving “hundreds of thousands of consumers” across the country.
Available in Russia only, this startup partners with big names of the local retail scene: Auchan, Krasnoye & Beloye, Metro Cash & Carry, Sbermarket, VkusVill, X5 Group, and more. Admitad initially onboarded CheckScan to its affiliate platform; then, in 2019, acquired a 25% stake in it. The details of the latest deal — a full acquisition — were not disclosed.
“Consumers now search out top-quality products and are ready to spend money they’ve set aside especially for those purchases. CheckScan and its growth strategy will allow us to help end-users make purchases with maximum efficiency,” stated Alexander Bachmann, Admitad’s founder and CEO.
“The smart shopping trend is developing at a breakneck pace both in Russia and around the world. This is less a result of post-pandemic economic turbulence than a sustainable change in consumer behavior. Consumer consciousness and, accordingly, behavior are becoming more rational,” he added.
From Holland, to Hungary, to the USA
Insuretech startup Pampadu, launched in 2019, has also become part of the Admitad family. Thanks to Pampadu’s platform, any Russian small business, web site, or even an individual, can act as insurance intermediaries and issue electronic insurance policies remotely.
Admitad reportedly paid $2 million to acquire the startup — less than one year after investing $400,000 in it. Under plans, following the acquisition, Pampadu will use Admitad’s legal and financial infrastructure in Germany, the Netherlands, the USA, the UAE, India and other countries.
Admitad’s other recent acquisitions included:
- Tapfiliate, a Dutch subscription-based Saas-platform where advertisers can manage their affiliate programs on their own (January 2021)
- LetyShops, a cashback service company founded in Ukraine and headquartered in Hungary, for which Admitad disbursed $3 million (July 2020)
In September 2021, Admitad announced an office in the US “to aggressively expand in the local market.”
Admitad has its headquarters in Heilbronn, Germany.
