Stan Martynyuk

Major Russian bank to launch marketplace to sell seized assets

August 2, 2019 August 2, 2019

VTB, a major Russian state-owned bank, intends to launch a marketplace to sell such non-standard assets as seized apartments and cars from insolvent debtors, as reported by Russian business daily RBC. The marketplace will provide a wide range of services related to the purchase, registration, moving, repairs, and upkeeping of the purchased properties purchased. Scheduled for …

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Russian AR app FaceApp sparks international controversy over privacy concerns

July 22, 2019 July 24, 2019

FaceApp, a mobile application that can realistically transform the photo of a person’s face using artificial intelligence, has come under harsh attacks in international media under claims that users’ personal data could be misused. Launched in St Petersburg in 2017 by Wireless Lab (which is now a resident of Russia’s largest tech park Skolkovo), FaceApp has …

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Two acquisitions this week: Mail.ru Group gets “high spirits” in gaming and niche leader in adtech

July 20, 2019 July 20, 2019

This week Mail.ru Group, the LSE-listed Russian Internet giant, announced almost simultaneously two acquisitions: that of acquired Belarusian game studio Swag Masha through its gaming branch My.Games and that of Russian content & ad recommendation service Relap.io. Acquiring “an idea and high spirits” Founded in May 2018 and based in Minsk, Swag Masha is a small game …

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Russia’s largest housing developer acquires stake in Samokat e-grocery service

July 18, 2019 July 30, 2019

PIK Group, Russia’s largest residential property developer, has invested in the St Petersburg-based Samokat e-grocery service, Russian business daily RBC reported. The financial details of the deal were not disclosed. According to official company registers, PIK acquired 27% of Samokat through its Cyprus- and Russia-based mother companies. Among Samokat’s other major shareholders are Vladislav Bocharov (24%) and …

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Emerging Travel Group secures $10 million from Lev Leviev, Igor and Dmitri Bukhman

July 12, 2019 July 30, 2019

Earlier this month Emerging Travel Group, an international online travel group with Russian connections, announced it raised $10 million in a Series E funding round. The investors are Russian-Israeli tech investor Lev Leviev – through his investment company LVL1 Group – and Igor and Dmitri Bukhman. The company hopes the investment will help it accelerate the …

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Mail.ru Group acquires stake in Performance Food delivery service

July 10, 2019 January 14, 2020

Mail.ru Group, a leading, LSE-listed Russian Internet company, has acquired a minority stake in Performance Food, a Moscow-based food delivery service specializing in premium healthy nutrition programs. The financial details of the deal were not disclosed. As reported by business daily Kommersant, which cites official company registers, MGL Mail.ru Equity Ltd, a Cyprus-based subsidiary of Mail.ru …

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Rostec, Russian Railways committed to create $100 million venture fund to support IT, IoT projects

July 9, 2019 July 10, 2019

Russian state defense conglomerate Rostec and Russian Railways have pledged to create a joint R&D center for LPWAN XNB wireless network devices as well as Internet-of-Things (IoT) technologies to be used on transport. To support such activities, the parties are going to launch a $100 million venture fund, Russian industry resource CNews.ru reported. Last month as part of …

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Russian ticket marketplace Eticket4 secures funding from Hong Kong

July 4, 2019 November 8, 2019

The Russian p2p ticket marketplace Eticket4 has sold 13% of its stock to Hong Kong-based GTSystem International in exchange for a $325,000 capital injection. The whole project was estimated at $2.5 million, Russian business daily Kommersant reported, citing exchanges with company founder Daniil Kruchinin. According to the official company register, the deal took place on July 4. Kruchinin …

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Tealsy online food products platform attracts investment from Baring Vostok

July 4, 2019 July 30, 2019

Baring Vostok, a major Moscow-based international PE firm, has acquired 5% stake in Tealsy, Russian business daily Kommersant reported last week. The financial details of the deal were not disclosed. This Moscow-based startup brings together e-shoppers, retail networks and suppliers by proving a single online platform where they can meet one another to trade food products. Tealsy …

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SmartPrice attracts $2.5 million to sell used smartphones online

July 2, 2019 July 30, 2019

Russian private equity fund ExpoCapital and several foreign business angels have jointly invested $2.5 million in SmartPrice, a Moscow-based online store that trades in used smartphones, Forbes Russia reported.in late June. The exact amounts of investments by the parties were not been disclosed, but the founders of the project are said to have retained the majority stake. In …

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Marketplace project ‘Sputnik’ aims to bring cheap Asian goods to Russian regions

June 27, 2019 July 13, 2019

A new marketplace could emerge soon on the Russian cross-border e-commerce scene, offering Russian online consumers goods from China and Southeast Asia. Dubbed ‘Sputnik,’ the project is backed by Evgeniy Sobolev and Vladimir Stupnikov, co-owners of the iMars communications group, who own 66.7% and 33.3% shares of the company respectively, Kommersant business daily reported. The founders did not …

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Sberbank invests in PayZakat, a payment system that helps Muslims collect alms

June 26, 2019 November 12, 2020

Sberbank, the state-controlled financial giant in Russia, is going to acquire 25% stake in PayZakat, the bank stated without disclosing the financial details of the deal. This Moscow-based startup has developed a payment platform to help Muslim users collect obligatory and voluntary alms. With the help of PayZakat’s bots in social networks, Muslim users can calculate their …

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