Qiwi, a leading operator of cash payment terminals and electronic wallets operating in Russia and internationally, intends to invest in startups whose solutions could help the group develop its own offers.
‘Qiwi Venture’ will stand as a branch of the company, not a separate investment vehicle, Qiwi’s PR Director Alexandra Vysochkina said in an exchange with East-West Digital News.
“We’ll pay no attention to where the startup is from or to the nationality or faith of its founder. We’ll consider all interesting projects as long as they have at least a working prototype,” Vysochkina explained.
Qiwi will invest up to $1 million in each startup. The overall amount of capital it will dedicate to this venture activity, however, has not yet been determined.
