The Kaptoxa virus, which was used to steal more than 70 million credit card numbers in the United States, was “partly written in Russian”, according to a Wall Street Journal article published on January 17. The newspaper cited a report prepared by iSight Partners Inc. and the U.S. Department of Homeland Security. Kaptoxa, incidentally, is …
The Kartoxa virus: Blame corporate complacency, not Russian hackers Read More
Life.Sreda, a Russian VC fund, announced last week that it has invested $730,000 in myWishBoard.com, a platform enabling online private fundraising by friends and families for fulfilling personal wishes. With this P2P service, users can contribute to a present for someone, and when a required amount is collected it is wired to the beneficiary’s e-account. The …
Life Sreda invests $730,000 in P2P platform myWishBoard.com Read More
IQcard, a Moscow-based startup offering multifunction bank cards, has raised $3.7 million in a Series B round led by Kenges Rakishev, a prominent businessman from Kazakhstan. The startup’s valuation has not been disclosed. Existing shareholders Fastlane Ventures and Direct Group have also participated in the round along with an unnamed “prominent Russian IT entrepreneur,” Fastlane’s press …
Kazakhstani businessman Kenges Rakishev leads $3.7 million round in Moscow startup IQcard Read More
London/Moscow – RBK Money, a leading online payments provider in Russia, announced today that it has been granted the status of an Authorized Payment Institution by Financial Conduct Authority (FCA) in the UK. This enables RBK Money to offer its payment services across all the EU member states under the Payment Services Directive (PSD). This …
RBK Money gets payments services authorization in the UK, aims for EU expansion Read More
While PayPal is starting activities on the Russian market, two domestic e-currencies, Yandex.Money and Money Mail.ru, are introducing their own innovative features. Since late November, Yandex.Money has allowed its users to send money via email. To send a so-called ‘money letter’, a user only needs a Yandex.Mail account and a Yandex.Money e-wallet. The recipient can …
Prostor Capital and Flint Capital have invested $3 million in equal shares in Federal Finance Group, a group of companies developing online financial services. The terms of the deal have not been disclosed. The group, founded in October 2010, has been backed so far by Russian financial services company Finam, PR director Ekaterina Prikhodko told East-West …
Flint Capital and Prostor Capital invest $3 million in online financial services Read More
Cross-border sales operator ViPoint.ru has announced a partnership with Kupivkredit, a subsidiary of the Tinkoff Credit Systems bank, that will allow its Russian customers to purchase goods from US online retailers on credit. Credit amounts will range from 3,000 rubles (a little less than $100) to 200,000 rubles ($6,000). This initiative is presented as the first …
Tinkoff bank offers credits for Russians’ cross-border online purchases Read More
Last week, a team of four Russian programmers won the 2013 international PayPal Battle Hack, reported RIA Novosti. PayPal’s Battle Hack 2013 offered teams from Moscow, Berlin, Washington, London, New York, Tel Aviv, Seattle, Barcelona, Miami and Austin 24 hours to develop a completely new service that would be introduced by PayPal. The competition was held …
Russian team wins PayPal Battle Hack and a $100,000 prize Read More
LendingClub Corp., the largest U.S. peer-to-peer lender, received a $57 million investment from Yuri Milner’s DST Global and Coatue Management LLC as the company nears an initial public offering. The transaction values LendingClub at $2.3 billion, said two people with knowledge of the deal, who asked not to be identified because the valuation is private. …
US peer-to-peer lender LendingClub said to reach $2.3 billion valuation in DST funding Read More
The use of digital banking and electronic payments is expanding in many countries, as consumers embrace technology that facilitates financial services. Yet in Russia, people still cling to cash for most of their financial needs. In fact, more than 90 percent of all commodity purchases are in cash, according to the Bank of Russia, and …
Tele2 Russia, a former subsidiary of the Swedish telco Tele2 which was acquired earlier this year by Russian bank VTB, has issued a virtual international payment card for online shopping in partnership with MasterCard. Connected to a Tele2 subscriber’s mobile account, the new payment instrument, named “Tele2 MasterCard virtual card,” lets online shoppers spend up …
Tele2 Russia teams up with MasterCard to issue virtual international payment card Read More
Earlier this week RocketBank, a Moscow-based banking application startup, announced that it received $2 million in funding from Runa Capital, a Moscow-based fund operating internationally. RocketBank’s application, currently available only on iOS, allows users to complete money transfers that necessitate no bank details of a recipient, simply an e-mail address or e-wallet number – which the …
Runa Capital injects $2 million in mobile banking startup with global ambitions Read More
