Finance

Tealsy online food products platform attracts investment from Baring Vostok

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 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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Russian e-commerce is entering accelerated development cycle, says new EWDN report

July 30, 2019

Addressing the lack of internationally-available information on Russian e-commerce, East-West Digital News has just released an in-depth study on this market. Among EWDN’s partners in this initiative are Data Insight, Russia’s leading data provider in this field, the E-Commerce Russia Association (NAMO), Ecommerce Foundation, an international expertise center based in the Netherlands as well as such …

Russian e-commerce is entering accelerated development cycle, says new EWDN report Read More

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

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

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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Gazprom Media acquires stake in major Russian influencer marketing agency

June 25, 2019

Gazprom Media, Russia’s largest media holding and a subsidiary of Gazprom, has invested an undisclosed amount of money in St Petersburg-based Happy Monday Family group of companies (HPMD) that deals in online advertising and influencer marketing, business daily Kommersant reported. This is the first deal of the media holding in the influencer marketing segment in …

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State fund Veb Ventures to provide $31 million to Russian startups this year

June 24, 2019

Veb Ventures (formerly VEB Innovations), a venture fund launched by state development agency VEB.RF (Vnesheconombank) in 2011, is confirming its commitment to support Russia’s tech startups. The fund has pledged to invest 2 billion rubles (more than $31 million at the current exchange rate) in seven companies by the end of 2019.  The move follows …

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Almaz Capital and Runa Capital exit from US cloud ERP Acumatica

June 20, 2019

Almaz Capital and Runa Capital, two international VCs with roots in Eastern Europe, exited from Acumatica. This US-based provider of cloud-based ERP software systems has been fully acquired by a leading PE firm EQT. The terms of the deal have not been disclosed. Almaz was the first investor in the company as early as 2009; Runa joined …

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Russian money fuels UK sharing economy startups

June 20, 2019

While the UK has traditionally been a key destination for Russian tech entrepreneurs and investors, two recent deals involving sharing-economy startups are confirming that even Brexit uncertainties are not stopping the trend. Thus, Impulse VC has just led a $6 million Series A round for London-based GuestReady. This three-year-old service lets shared-economy hosts manage their business …

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Yandex acquires e-ticketing system to double its market share

July 30, 2019

In a move to increase its share of the Russian e-ticketing market, Yandex, the NASDAQ-listed Russian Internet giant, has acquired the exclusive rights to the e-ticketing system called TicketSteam. The financial details of the deal,  reported by business daily Kommersant, were not disclosed. According to InterMedia news agency director Yevgeny Safronov, Yandex’s share of the e-ticketing market …

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E-grocery service Golama to receive $7.7 million from state investor

November 12, 2020

Golama, a leading e-grocery delivery service based in Moscow, will receive 500 million rubles (about $7.7 million at the current exchange rate) from a state investor after just one year of operations. The investment will be provided by Veb Ventures (previously known as VEB Innovations), a venture fund launched by Vnesheconombank in 2011 to support innovative …

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Russian state to put more than $100 million in edtech fund

June 14, 2019

The Russian Ministry of Economic Development and RVC, the Russian state fund-of-funds dedicated to innovation, have inked an agreement to create a new venture fund dedicated to IT innovation in the field of education. The fund will target projects using the latest word of IT technologies on the global market. The parties are committed to provide …

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