Finance

Yandex to buy Tinkoff: Deal parameters and implications

September 25, 2020

By Mikhail Terentiev, CFA, Head of Research; Oksana Mustiatsa, CFA, Analyst; and Andrey Mikhailov, Senior analyst We believe the proposed acquisition of Tinkoff (TCS) by Yandex (YNDX) is a win-win for both companies. From YNDX’s perspective, TCS’ valuation looks reasonable, and its takeover should create a vast scope for synergies, cross-selling and product bundling, solidifying the …

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After parting ways with Sberbank, Yandex plans to buy Russia’s leading online bank

September 24, 2020

Yandex, the NASDAQ-listed Russian Internet giant, has agreed in principle with TCS group – controlled by Russian billionaire Oleg Tinkov – the acquisition of its online banking and financial services company Tinkoff. “The parties have come to an agreement in principle on a transaction that would consist of cash and share consideration worth approximately $5.48 …

After parting ways with Sberbank, Yandex plans to buy Russia’s leading online bank Read More

My.Games invests in Russian-founded studio Hypemasters

September 22, 2020

My.Games Venture Capital (MGVC), an investment firm affiliated to Mail.ru Group, and Aii Corporation, a Finnish VC firm, have teamed up to invest in a US-headquartered mobile games studio called Hypemasters.   “Under the new partnership, MGVC will provide marketing, HR, operations, and financial support to Hypemasters to drive the development of current and future titles,” …

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The rise of Russia’s giant digital ecosystems

September 21, 2020

Over the past few years, large ecosystems emerged around Mail.ru Group, Sberbank and Yandex, with both competition and cooperation intensifying between them.   ICT.Moscow, a media initiative from the Moscow government, has analyzed the variety of services provided by the three companies and the underlying business logic. It has compiled industry news from November 2019 to August 2020, aiming …

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Fort Ross Ventures aims to invest $100 million across Russia and Eastern Europe

September 18, 2020

Just weeks after The Untitled announced plans to launch a new venture fund for Russia and Eastern Europe, Fort Ross Ventures, another Russia-connected VC firm, shared news about a similar initiative.  Dubbed ‘Fort Ross Seed Fund,’ the new venture vehicle is the third fund managed by Fort Ross, following SBT Ventures I and II. It …

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Swedish, Malaysian and French investors back Russian startups

September 20, 2020

Russian startup NaPopravku (“for cure”), an online service for medical appointments, has raised $2.25 million for further domestic expansion and mobile developments, reported industry publication Rusbase.  The investor pool includes the Russian investment holding Avenir, which has a variety of tech companies in its portfolio; the Swedish VC fund VNV, which is renowned for its …

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Russian venture trends: The impact of Covid-19 and the rise of open innovation (online event, Sept. 23)

September 17, 2020

On Sept. 23, venture analytics agency Dsight will hold an online event to present its latest report on Russian venture activity and discuss industry trends. Special attention will be brought to such topics as: The rise of open innovation and corporate tech scouting in Russia; The implications of COVID-19 for the venture capital industry in …

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MTS corporate fund invests in financial app Coinkeeper

September 14, 2020

The corporate venture fund of MTS, a leading Russian mobile operator, is investing 125 million rubles (around $1.7 million at the current exchange rate) in personal finance app Coinkeeper. Coinkeeper claims 350,000 users all over the world whom it helps “make the right financial decisions” from expense forecasting, to advanced analytics, to the management of …

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Russian e-commerce major Ozon posts record turnover growth as pandemic fuelled online shopping in Q2 2020

September 14, 2020

Last week Russia’s leading multi-category e-commerce platform, Ozon Group, announced its turnover rose to a record in the second quarter, as the global pandemic spurred more people to shop online. Turnover, or gross merchandise value (GMV), surged 188% year on year to 45.8 billion rubles ($611 million) in Q2 2020, Ozon said in a statement. In …

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The Untitled aims to raise €50 million to bridge Eastern European startups with Western Europe

July 14, 2021

The Untitled, a Russian venture firm established in 2013, is raising a new vehicle to invest across Eastern Europe with a focus on the former Soviet Union. With a €50 million target, the new fund will seek to invest at the seed and pre-Series A stages in such segments as B2B software, robotics, artificial intelligence, …

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Mail.ru Group and Sberbank invest again in food delivery

November 12, 2020

Mail.ru Group and Sberbank are increasing their stake in food delivery service Local Kitchen (‘Kukhnya na rayone’) through their joint venture O2O. After the acquisition of a 30% share in May for nearly $3.9 million, O2O is to own 84.7% of the company after deal completion scheduled for Q4 2020. Some of Local Kitchen’ services are …

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Target Global bets on Russo-Estonian startup “to disrupt crypto payments”

September 8, 2020

Last week Mercuryo.io, a Russian-founded startup based in Estonia, announced the completion of its first round of funding, having received €2.5 million from Target Global.  Mercuryo.io has built a cross-border cryptocurrency payment network for businesses – allowing for transactions from and to anywhere in the world. This infrastructure offers solutions for virtual accounts, business payments, …

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