In late June Kicksharing service Whoosh raised 13.5 billion rubles in bonds (around $17 million at the pre-war exchange rate), making its debut on the Moscow stock exchange. Launched in 2019, the company is a market leader in Russia with 8 million claimed users across 45 Russian cities. Among Whoosh’s backers are Ultimate Capital Fund, …
Russian kicksharing service Whoosh raises $17 million in bonds Read More
Russian e-commerce major Ozon plans to reach operational break-even in the next 12 months, the company’s finance chief Igor Gerasimov said on Tuesday. “We’ve started to improve the economy – you can see that in the first quarter of this year (…) In the next 12 months, we intend to reach operational break-even,” he said at the forum of entrepreneurs …
Just weeks after warning of a potential bond payment issue, Russian e-commerce major Ozon is now ruling out any default risk. Cited by news agency RIA, the company’s business development director Anna Karpova said Ozon had “113 billion rubles on its accounts,” which is enough to “cover [its] obligations.” “We see loyalty on the part of [securities …
Russia’s Nasdaq-listed e-commerce player Ozon on Friday said that holders of its bond maturing in 2026 may be entitled to redeem the principal and interest accrued if trading remains halted until March 8, but has the cash in its accounts to pay. Trading of Ozon’s shares on Nasdaq was suspended on Feb. 28 and if suspension …
Russia’s Ozon, following Yandex, warns of bond payment issue Read More
Yandex, arguably the most successful and emblematic Russian digital company over the past 25 years, could default in a matter of days. The company warned about this risk today even though none of its entities, main shareholders, directors or managers have been targeted by western sanctions. The threat originates in the fact that, this past Monday, the …
After Nasdaq stock suspension, Yandex could default on $1.25 billion convertible notes Read More
While asserting themselves as chief disruptors in the food delivery industry — fulfilling orders in 15 minutes in cities of Europe (e.g. Jiffy) and North America (e.g. Buyk) — Russian startup entrepreneurs are also penetrating neighboring segments. From urban delivery, to mobility, to local or international freight, some of them receive generous support from VCs, as illustrated by four recent deals. …
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 …
Tinkoff introduces Russia’s first digital mortgage loans Read More
August Meyer, co-owner of cosmetics chain Rive Gauche and former co-owner of now defunct online retail Ulmart — was arrested Wednesday last week in St. Petersburg. Meyer and his wife, Inna Meyer, are suspected of embezzling 2.4 billion rubles ($32.6 million at the current exchange rate) from state-owned bank Sberbank on the pretext of developing Ulmart shortly …
Former US citizen and Ulmart co-owner August Meyer arrested in St. Petersburg Read More
Earlier this month Rusnano, the state-owned investment corporation set-up in 2007 to nurture nanotechnologies and related innovation, admitted it had accumulated a “disproportionate debt,” reports TheBell.io. On Friday, Nov. 19, the Central Bank ordered the Moscow Stock Exchange to suspend trading of Rusnano’s bonds, while company management were reportedly locked in debt restructure negotiations. Unsurprisingly, …
State-owned investment corporation Rusnano struggles with “disproportionate debt” Read More
Last week two large financial institutions announced a 1.6 billion ruble ($22 million) investment in Eruditor, a group of online platforms for small businesses and freelancers providing home and local services. The funding is provided jointly by the Russian-Chinese Investment Fund, a vehicle created by Russia’s sovereign wealth fund RDIF and the Chinese Investment Corporation, and …
Russian service marketplace Eruditor secures $22 million venture loan to go global Read More
An e-scooter startup called Urent has raised 1.2 billion rubles (nearly $16 million at the current exchange rate) in equity funding and loans. The investor pool includes Citimobil, a Russian ride-sharing company, Sber, the state-controlled digital and finance giant, and Sistema SmartTech, a new venture vehicle of the Sistema conglomerate. The latter contributed 200 million rubles …
Russian e-scooter startup raises $16 million to become regional leader Read More
Last week Selectel a leading Russian data center and related service provider, made a bond placement debut on the Moscow exchange, aiming to raise 3 billion rubles (around $40 million at the current exchange rate). Bond trading is scheduled for start on February 25. The coupon rate is set at 8.5% per annum — which corresponds …
Selectel makes bond debut in Moscow to raise $40 million Read More
