Fintech

Smart bank card provider IQcard raises $2.5 million from Russian and Ukrainian funds

March 13, 2013

IQcard, a Moscow-based startup offering multifunction bank cards, has raised “more than $2.5 million” in a Series A round from Paradigm Investments and TA Venture, as well as from existing investors Fastlane Ventures and Direct Group. Neither the exact amount of investment nor the startup’s valuation were disclosed. Launched in March 2012, IQcard offers a prepaid bank …

Smart bank card provider IQcard raises $2.5 million from Russian and Ukrainian funds Read More

St. Petersburg regional fund supports innovative payment solution developer

March 7, 2013

A state-supported venture fund in St. Petersburg (“The St. Petersburg regional venture fund for investment in small businesses in the scientific and technical sphere,” in Russian officialese) has announced an investment of an undisclosed amount in Breeze Technology, a startup developing innovative payment methods for public transportation. Breeze Technology has provided St. Petersburg and Moscow …

St. Petersburg regional fund supports innovative payment solution developer Read More

Yandex.Money enables users to replenish virtual wallets from bank accounts

March 7, 2013

Yandex.Money, one of Russia’s leading virtual currencies – in Russian: Yandex.Dengi – announced last month a new step toward integrating its electronic currency with bank systems. Users can now replenish their virtual currency accounts using bank cards issued by Russian banks. To add funds to a virtual account, they only need to indicate their bank …

Yandex.Money enables users to replenish virtual wallets from bank accounts Read More

Leading Russian mobile operators to pool efforts for NFC promotion

November 19, 2014

Russia’s leading mobile operators are considering jointly promoting the Near Field Communication (NFC) standards in Russia. To support the effort, the mobile giants envision establishing an alliance similar to such international NFC-focused industry unions as Oscar in the UK or ISIS in the U.S. In an interview with the Russian business daily Vedomosti, Alexander Popovsky, …

Leading Russian mobile operators to pool efforts for NFC promotion Read More

Brilliant mobile payment startup raises $8 million but faces many unknowns

March 1, 2013

uBank, a mobile payment startup launched in late 2011, announced earlier this week an $8 million capital injection – its first round of funding – from Runa Capital, a Moscow-based venture fund that operates internationally. uBank’s valuation has not been disclosed, but its CMO Evgeniy Kozlov told East-West Digital News that the founders have kept a …

Brilliant mobile payment startup raises $8 million but faces many unknowns Read More

From a cash economy to digital payments: Russia at the crossroads

October 7, 2015

Russia’s readiness for mobile commerce and the speed with which its mobile payments market has been developing have been hot topics for discussion of late. While optimists speak of the cell phone becoming an all-purpose payment terminal as a near-term prospect, skeptics point to Russians’ near-total mistrust of cashless transactions, the low accessibility of banking …

From a cash economy to digital payments: Russia at the crossroads Read More

Payment operator Qiwi to invest up to $1 million in Russian and foreign startups

January 23, 2013

Qiwi, a leading operator of cash payment terminals and electronic wallets operating in Russia and internationally, intends to invest in startups whose solutions could help the group develop its own offers. ‘Qiwi Venture’ will stand as a branch of the company, not a separate investment vehicle, Qiwi’s PR Director Alexandra Vysochkina said in an exchange …

Payment operator Qiwi to invest up to $1 million in Russian and foreign startups Read More

Online matchmaking industry consolidates: Teamo acquires Monamour

January 14, 2013

Matchmaking site Teamo.ru has taken full ownership of its main competitor, Monamour.ru, gaining undisputed leadership of this market segment in Russia. The transaction, which took place in December, was confirmed to East-West Digital News by Teamo Managing Director Vladimir Schmidt. Schmidt said it was a cash transaction, but declined to disclose further financial information.

InVenture and Almaz inject $2 million into Square clone 2can

December 31, 2012

Smartfin, a provider of mobile payment solutions in Russia, completed its $2 million Series A round of financing in mid-December. The startup, which operates under the brand ‘2can,’ has enjoyed the participation of Almaz Capital and InVenture, two major Russian venture funds, as well as of Cisco VP Bob Agee and other unnamed business angels. …

InVenture and Almaz inject $2 million into Square clone 2can Read More

Qiwi prepares for IPO

December 14, 2012

Qiwi, a leading Russian payment operator, has picked Credit Suisse and JPMorgan for a New York IPO which it plans for the middle of next year, Reuters learned from “three sources familiar with the matter.” The company plans to float between 25 and 30% of its shares while the IPO would value it at $1 …

Qiwi prepares for IPO Read More

Square-like startup Life-Pay raises $2.6 million from Life.Sreda

December 11, 2012

Life-Pay, a startup that is developing smartphone-based bank card payment terminals, has secured $2.6 million from Life.Sreda at an undisclosed valuation. The news was reported yesterday by Unova.ru, a website covering startup and venture news. The funds will be used to reinforce the startup’s team, develop new products and penetrate new markets in the former …

Square-like startup Life-Pay raises $2.6 million from Life.Sreda Read More

Scroll to Top

This site is under maintenance. Sorry for the inconvenience.

This site is under maintenance. Sorry for the inconvenience.