Finance

Global Fashion Group raises €120 million on German stock exchange; Lamoda expects capital injections

November 24, 2020

Last week Global Fashion Group (GFG), an international online fashion group focusing on growth markets – including Russia and neighboring countries where the group is represented by Lamoda – raised some €120 million in gross proceeds. The group issued new shares on the Frankfurt Stock Exchange, where it is has been listed since July 2019. These 16.5 million shares were placed with institutional …

Global Fashion Group raises €120 million on German stock exchange; Lamoda expects capital injections Read More

Russian corporate fund Sistema_VC backs again UK agritech startup KisanHub

November 23, 2020

For the second time in less than 18 months, Sistema_VC, one of the venture investment vehicles of Russian conglomerate Sistema, has backed UK agrotech startup KisanHub. The latest round, announced last week, provided £1.12 million ($1.49 million) to the Cambridge-headquartered startup. The round was led by Low Carbon Innovation Fund II (LCIF2) with co-investment matching coming from …

Russian corporate fund Sistema_VC backs again UK agritech startup KisanHub Read More

The alliance between Mail.ru Group and Sber is not stable, say media reports

November 22, 2020

According to media reports last week, the alliance of Sber (the state-controlled financial and technology giant previously known as Sberbank) and Mail.ru Group (an LSE-listed Russian Internet major) is not stabilized yet.  Financial Times reported the two companies are yet to align their strategic visions of the ecosystem they are building jointly. Sber sees its …

The alliance between Mail.ru Group and Sber is not stable, say media reports Read More

Now fully owned by Sber, Yandex.Checkout rebrands to ‘YooMoney’

November 19, 2020

Yandex.Checkout, a leading Russian payment service provider, is going to run its international operations – essentially in cross-border B2C payment operations – under a new brand, ‘YooMoney.’ The company says the transition will be completed by mid-December, 2020.  As for domestic operations, they are now run under brand of ‘YooKassa.’ These changes are coming as …

Now fully owned by Sber, Yandex.Checkout rebrands to ‘YooMoney’ Read More

Rostelecom to take control of waste management solution provider for $16.7 million

November 20, 2020

Rostelecom, Russia’s national telecom operator, is in the process of acquiring a 51% stake in Bolshaya Troika (Big 3), a provider of waste processing automation solutions. The transaction, which amounts to 1.275 billion rubles ($16.7 billion at the current exchange rate), will be completed in the first half of 2021 “after successful launch of a …

Rostelecom to take control of waste management solution provider for $16.7 million Read More

New Russian AI and cloud investment firm backs 3D rendering company Megarender

November 19, 2020

Russian 3D rendering company Megarender has secured $3 million from Scalo Technologies, a firm launched earlier this year to invest in artificial intelligence and B2B cloud services. Megarender facilitates access to powerful servers to increase considerably the speed of 3D rendering. Customers may thus use such software as 3ds MAX, Arnold, Blender, Cinema 4D, Corona Renderer, …

New Russian AI and cloud investment firm backs 3D rendering company Megarender Read More

Amid strong investor demand, Ozon hopes to raise up to $1 billion in US IPO

November 18, 2020

Ozon, the leading multi-category e-commerce platform in Russia, filed today an amended version of the SEC registration statement for its NASDAQ IPO. The company will go public at a valuation of $4.6 billion to $5.6 billion, Financial Times reports from unnamed sources “familiar with the plans.” This is is more twice as high as the underwriters’ initial highest estimates, …

Amid strong investor demand, Ozon hopes to raise up to $1 billion in US IPO Read More

Michael Calvey freed from house arrest weeks after settlement of civil claims

November 13, 2020

American investor Michael Calvey and six other defendants in the Baring Vostok case have been released from house arrest, Russia’s Supreme Court ruled Thursday. This is the latest breakthrough in one of the most high-profile cases in the Putin era involving foreign businessmen. Their private equity fund, Baring Vostok, has been an investor in some of Russia’s …

Michael Calvey freed from house arrest weeks after settlement of civil claims Read More

After raising $2.1 million, this Russian truck driving startup wants to become a unicorn

November 12, 2020

Fura, a Moscow-based startup offering high-tech services to truck drivers, has raised 160 million rubles ($2.1 million at the current exchange rate) in a Series A round led by an unnamed Swiss-Russian fund. Alexander Popov, Svyatoslav Vilde and other individual investors also took part in the round. The fresh funding will be used to strengthen the …

After raising $2.1 million, this Russian truck driving startup wants to become a unicorn Read More

OKS Group to invest $2.2 million in marketplace support service Upmarket

November 10, 2020

Upmarket, a service that helps e-merchants trade on marketplace, has agreed a 170 million ruble ($2.2 million) investment plan with OKS Group. The investor may get a 31% stake in the company by mid-2021, reports business daily Kommersant.  From content creation, to marketing strategy, to logistic support, Upmarket helps merchants place goods on three of Russia’s …

OKS Group to invest $2.2 million in marketplace support service Upmarket Read More

Banki.ru founders sell their stake to settle conflict with US investor

November 24, 2020

An investor consortium led by Russian private equity firms Elbrus Capital and Winter Capital (the latter has Russian billionaire Vladimir Potanin among its limited partners) has acquired 60% of Banki.ru, a leading bank and insurance marketplace. The investors are buying all the shares of company founders Philipp and Kirill Ilyin-Adaev and Elena Ishcheeva for an undisclosed amount. Russia Partners, an …

Banki.ru founders sell their stake to settle conflict with US investor Read More

Russian sovereign fund RDIF invests in telemedicine platform, targets 100 million potential users

January 20, 2021

The Russian Direct Investment Fund (RDIF, Russia’s sovereign wealth fund) is investing in a telemedicine platform developed by Digital Medical Services (a subsidiary of state corporations Rostelecom and Rostec) and online consultation provider Doctis.  While Digital Medical Services will provide expert and methodological support to meet public healthcare standards, Doctis will contribute its information system to the joint …

Russian sovereign fund RDIF invests in telemedicine platform, targets 100 million potential users Read More

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