Finance

Two startup entrepreneurs from Russia aim to “revolutionize SME finance” in Germany

March 18, 2021 March 22, 2021

Earlier this month in Germany, a Russian-founded startup launched a “4-in-1 finance platform” for SMBs — a solution that automates admin and accounting processes. The startup, dubbed Monite, also announced the completion of a €1.1 million pre-seed funding round, which involved no less than 10 investors. Among them are Berlin-based signals Venture Capital, Zurich-based Tomahawk VC, Turkish fund InVentures …

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Russian tip automation startup acquired by major bank 18 months after launch

March 17, 2021 March 17, 2021

Alfa-Bank is in the process of acquiring Netmonet, a startup that uses QR codes to automate tips in restaurants, cafés and beauty salons. In an agreement signed last month, the Russian lender is committed to acquire the company fully for an undisclosed amount. Forbes Russia has estimated Netmonet’s valuation at approximately $4 million — a sizeable amount …

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Backed by a software giant, this Russian smart transportation provider eyes foreign markets

March 16, 2021 March 19, 2021

Softline Venture Partners, the venture arm of Russian software giant Softline, has invested in T-1 Group, a provider of B2B and B2C telematics solutions and navigation technologies. No details of the transaction were disclosed. “The acquisition of a stake in T-1 Group is an investment in the rapid growth of the transport telematics market, which is simply …

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Russian direct sales giant Faberlic acquires Sports.ru to develop vertical communities

March 9, 2021 March 9, 2021

An investment fund controlled by Alexey Nechaev, the founder of Russian direct sales leader Faberlic, has acquired Sports.ru with affiliated blogging and marketing assets. The amount of the deal was not disclosed. Sports.ru is a leading Russian-language sports media and community platform. Founded by a journalist in 1998, the platform was sold in 2006 to Herman …

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Russian-founded micropodcasting startup receives funding from Peter Thiel and other prominent founders

March 4, 2021 March 8, 2021

A bevy of prominent business angels have backed Voices, a Russian-founded micropodcasting startup based in California. Two million US dollars were contributed by Signal founder Moxie Marlinspike, Tinder founder Justin Mateen, Shutterstock founder John Oringer, eBay founder Peter Thiel, MSQRD co-founders Sergey Gonchar, Evgeny Negen and Andrey Yanchurevich, alongside a few others. Voices co-founder Alexey …

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0100 Virtual CEE: Hundreds of PE/VC professionals to meet online (March 16-18)

March 3, 2021 March 10, 2021

More than 500 industry professionals, including 300+ investors interested in the CEE region, are expected to participate in the 2nd edition of 0100 Virtual CEE, a major PE/VC regional conference. The event will take place online from 16th to 18th March, 2021. Participants will include senior level General Partners from renowned PE/VC funds and Limited Partners — including pension funds, funds of funds, family …

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Russian online programming school attracts $10 million to pursue global expansion

February 24, 2021 February 25, 2021

Algorithmics (Algoritmika in Russia), a leading Russian online school of programming, has attracted $10 million in equity funding. Two major funds have backed the startup: Winter Capital and the Russian Chinese Technology Investment Fund. A previous investment came in 2019, when Mail.ru Group acquired a minority stake in the startup. Founded in 2016, Algorithmics offers …

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Dsight presents Russian VC trends for 2020 (online event, Feb. 25)

February 23, 2021 February 23, 2021

Dsight, with support from CrunchBase, EY, EWDN and other partners, will present its Russia venture report for 2020 and discuss the latest market trends and events. This online event will take place on Thursday, Feb. 23 at 6pm Moscow time (4pm CET). The program covers such topics as: Key venture facts and trends in Russia …

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Selectel makes bond debut in Moscow to raise $40 million

February 22, 2021 February 24, 2021

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 …

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Two months after its $1.2 billion IPO, Ozon prepares to issue $750 million worth of convertible bonds

February 19, 2021 February 19, 2021

Russian e-commerce major Ozon is to offer bonds worth $750 million (aggregate principal amount). These bonds will be issued “on or around Feb. 24, 2021,” with further listing on “an internationally recognized, regularly operating stock exchange.” The company provided the following details on the offer: These are senior unsecured convertible bonds, which will be convertible into American Depositary …

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Mail.ru Group, Alipay, USM, MegaFon and RDIF team up to develop payment and financial services

February 15, 2021 February 16, 2021

On Feb. 12 Alipay owner Ant Group, LSE-listed Mail.ru Group, mobile operator MegaFon, sovereign fund RDIF and Alisher Usmanov’s holding USM signed binding agreements to create a payments joint venture (PJV) and a financial services joint venture (FSJV). The deals, which follow an October 2019 non-binding agreement, are still subject to “a number of conditions including third …

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E-commerce provider secures $1.3 million from Russian business angel

February 5, 2021 February 5, 2021

As Russian e-commerce, boosted by the pandemic, is breaking records, service and solution provider PIM Solutions has just received a capital injection of 100 million rubles ($1.3 million at today’s exchange rate) from business angel Dmitry Zobnin. The valuation of the company has reached 2 billion rubles (around $26 million), as Zobnin received a 5.13% …

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