Search Results for: tinkoff

Russian VC market in crisis: volumes and valuations fell sharply in 2022

January 31, 2023

Russia’s venture market, which hardly even reached $1 billion in pre-war years, is enduring hard times.  In the first half of 2022, it fell by almost 40% in volume, according to industry research agency DSight, cited by industry news site PlusWorld. Company valuations in the tech sector have fallen dramatically, according to a study from Skolkovo and Tinkoff Private. …

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Yandex could dismantle itself amid domestic and international pressure

November 26, 2022

Yandex, arguably the most successful and emblematic Russian digital company over the past 25 years, could be split amid the international and domestic tensions that have followed Russia’s attack on Ukraine on Feb. 24.  Confirming earlier media reports (FT, NYT, The Bell), Yandex announced Friday it had “commenced a strategic process to review options to restructure the …

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Russian owner of one of the world’s top digital banks says Kremlin forced sale of his stake

May 3, 2022

UK-sanctioned Russian businessman Oleg Tinkov said the Kremlin forced him to sell his stake in a major bank he had founded after he criticized the Ukraine war. Tinkoff Bank, one of Russia’s most impressive success stories in the tech field, has over 20 million customers — making it one of the world’s biggest digital banks. It is …

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Tinkoff introduces Russia’s first digital mortgage loans

February 17, 2022

Tinkoff’s mortgage loan offering is the first of its kind in Russia: the process will take place entirely online, from paperwork to credit issuance. Since Tinkoff has always been branchless, customers will not need to visit a brick-and-mortar location at any stage of the transaction, including when applying for electronic signatures.  First, Tinkoff customers will be …

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Russian banks begin testing digital ruble payments

January 27, 2022

While advocating a ban on crypto exchange, investment and mining in the country, Russia’s central bank has plans to launch its own digital currency. Having completed the prototype of the digital ruble platform in December, the monetary authority is now beginning to experiment with transactions. A dozen banks have been invited to join the first stage of …

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Russia’s e-commerce leader Wildberries bought a bank to launch virtual debit card and instant refund

January 27, 2022

Wildberries has just launched its first financial product — a virtual debit card that allows its customers to make purchases on the marketplace with a 2% discount. The news was reported earlier this week by RB.RU, which cited  the company’s press service.  Only users with a Wildberries account can get the ‘WB Card,’ which is provided at …

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From London, to Switzerland, to India, Russian entrepreneurs and investors push fintech innovation

February 11, 2022

Last week, as reported by Reuters, TCS Group — the owner of Russian digital banking giant Tinkoff — took control of Swiss crypto service company Aximetria as part of its international expansion strategy. Founded by Russian serial entrepreneur Alex Axelrod in 2018, this startup has developed a SaaS platform to provide “seamless interconnection for any form of money: fiat, crypto and …

From London, to Switzerland, to India, Russian entrepreneurs and investors push fintech innovation Read More

Russian digital banking giant Tinkoff acquires payment automation service Jump.Finance

November 26, 2021

Tinkoff, the Russian digital banking giant, has taken control of Just Look, the company behind the Jump.Finance payment automation service. Tinkoff purchased a 51% stake under undisclosed terms. Founded in 2017 by Anton Kirillov (CEO) and Mikhail Kirchenko (CTO), Jump.Finance has asserted itself as a major provider of payment automation software for taxi fleets, car dealers, delivery companies, scrap collector …

Russian digital banking giant Tinkoff acquires payment automation service Jump.Finance Read More

New fund launches in Russia: digital bank, mobile operator and alleged Putin daughter in the game

November 18, 2021

The ‘Fund for Technological Investments,’ a newly registered startup investment vehicle, made the news in Russia last week. This was due neither to any impressive investment capacity (just around 3 million rubles, or $40,000, per deal), nor to any special investment thesis. What is less common is the identity of one the instigators of this …

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Tinkoff enters e-commerce race as competition intensifies

October 21, 2021

Russian online bank Tinkoff has launched an e-commerce venture. The new platform, a constellation of services and tools designed to help entrepreneurs handle and boost their online sales, will cater to a rapidly expanding online economy in Russia, as well as to clients hoping to grow their international presence. Tinkoff has hired Ilya Kretov, formerly …

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Tinkoff named most innovative digital bank in Central and Eastern Europe at World’s Best Digital Bank Awards

August 27, 2021

Tinkoff has been recognised for its innovative banking solutions as the Most Innovative Digital Bank in Central and Eastern Europe at Global Finance magazine’s 2021 World’s Best Digital Banks awards. In 2020, Tinkoff unveiled its AI Banking strategy that aims to transform its customer offering through personalisation with the help of artificial intelligence across all products …

Tinkoff named most innovative digital bank in Central and Eastern Europe at World’s Best Digital Bank Awards Read More

Tinkoff offers virtual phone secretary to all Russian mobile phone users

June 19, 2021

In early June Tinkoff, the Russian digital banking giant, announced the beta version of its free voice assistant ‘Oleg,’ making it available to all mobile users in Russia. ‘Oleg’ is also unique in the world in that “it can be easily activated both in the Tinkoff super app and via popular messengers such as Telegram …

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