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E-Commerce, Payments, Finance
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E-commerce Trends 2015, a major e-commerce event in Poland, will hold its 6th edition at the Businessmen Institute in Warsaw on September 22-23. Highlighting the most important aspects of e-trade including cross-border trade, mobile commerce, modern logistics, payment and marketing services, the event will bring together key players from Central and Eastern Europe off...
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27 July 2015
Yesterday CarPrice.ru, a major Russian online broker of used car, announced that it raised $40 million in a Series B funding round – a considerable amount in the context of contraction of the Russian venture market. The round was led by Baring Vostok Private Equity Fund V with the participation of Almaz Capital and other unnamed investors. No details of the transaction have been di...
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27 July 2015
Earlier this month BitFury, a major Bitcoin Blockchain infrastructure provider and transaction processing company, secured $20 million in funding from Russia’s iTech Capital, Georgian Co-Investment Fund and DRW Venture Capital....
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27 July 2015
Two Moscow entrepreneurs raise millions of dollars to “uberize” beauty industry in Russia and beyond
Inspired by the success of such apps as Gettaxi and Uber, two Moscow entrepreneurs have just launched GetNowBeauty, a mobile app that allows you to call to your home or office a hairdresser, facial aesthetic, hair removal or nail manicure specialist. To develop the service, former bank legal adviser and singer Anna Korona — whose real name is Anna Yapryntseva — and her h...
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21 July 2015
The grant committee of Skolkovo, the international high tech hub under completion on the outskirts of Moscow, has signed off on a 30-million ruble grant (approximately $500,000) for space and telecommunications cluster resident startup HelgiLab. An equal amount is being put up by the company’s founders....
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21 July 2015
iTech Capital, a fund with Russian origins now operating globally, has just invested $3 million in exchange for a minority stake in TradingView, a social fintech platform that unites traders and investors from around the world....
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21 July 2015
Maxfield Capital, a venture fund operating globally from its offices in Moscow, New York City and Tel Aviv, has invested “up to $500,000″ in OnFarm. This Fresno, California-based startup defines itself as an “Internet-of-Things platform that enables a comprehensive array of leading farm hardware technologies into a single grower-friendly management and decision platform.&rdq...
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14 July 2015
Last month RetailCRM secured $600,000 from Edison.VC, as reported by Russian tech blog Rusbase. This Series A round is intended to accelerate product development and commercial expansion, including in foreign market, the company announced....
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14 July 2015
In a new move to penetrate the Asian markets, Russian fintech fund Life.Sreda has inked a memorandum of understanding with Marvelstone Partners, a Seoul, South Korea-based investment group. The two partners intend to launch a $20 million fund targeting fintech startups in South Korea and other Asian countries....
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14 July 2015
Israeli startup Klear, formerly known as Twtrland, has raised $1.5 million in new funding from Altair and TMT Investments, two international venture funds with Russian backers....
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14 July 2015
Amid the economic turmoil of this and last year, the Russian online retail market is still appealing in many respects. This consensus emerged from the eDays e-commerce conference, an internationally-oriented event which was held for the second time in Moscow on June 4 and 5....
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22 June 2015
In its second edition on June 4 and 5, the eDays e-commerce attracted nearly 250 top executives and high-level professionals, some of them joining the event from as far as France, Estonia, Spain, Sweden, the UK and Ukraine....
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22 June 2015
KupiVIP, a major Russian online flash-sales company also operating in Kazakhstan, has extended its cross-border offer to this Central Asian country....
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22 June 2015
Qiwi Venture, the investment arm of Russian electronic payment giant QIWI Group, has committed itself to invest an estimated $150,000 in Krawlly, as reported by Russian tech blog Firrma. This Russian startup is developing an Android mobile app, christened “AnyBalance,” that displays in one interface the balances of a user’s bank, mobile or ISP accounts....
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27 May 2015
Selectel, a major commercial data center operator in Russia, has just launched the “Virtual Private Cloud” (VPC) — an offer that it says is new in Russia but inspired by the models of Amazon Web Services, Microsoft Azure and Rackspace....
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25 May 2015
As a result of the international tensions, Western venture capitalists that traditionally looked at Russia have found themselves in an uncomfortable position over the past year. The Russia label has become a stigma in the eyes of a large part of them, making international funding and development more difficult for local startups....
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25 May 2015
Yesterday Qiwi, a major, NASDAQ-listed Russian payment operator, announced the full acquisition of SAER, a holding company that owns the Contact money transfer system and the Rapida payment processing system. Under the terms of the agreement, QIWI will issue 5,593,041 class B shares to the current owner, Russian financial group Otkritie....
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18 May 2015
In a cross-border market that is still growing fast, reaching around $4 billion in 2014 for physical goods, the Russian payment issue is to be considered carefully by foreign online retailers. ...
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18 May 2015
East-West Digital News is proud to announce the upcoming e-Days E-Commerce Conference, Russia’s first internationally-oriented industry event. The second edition edition of this annual event will be held in Moscow on June 4 and 5, in association the chambers of commerce of France and Great Britain and online marketing agency BuzzFactory joining EWDN as co-organizers and partners....
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12 May 2015
Two initiatives that confirm the Russian government’s commitment to support the country’s high-tech industries were announced this month. The first was the creation of a 5 billion ruble (approximately $100 million) tech fund by RVC, the state-owned fund of funds dedicated to innovation, in partnership with Da Vinci Capital Management, a major internationally-oriente...
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12 May 2015
Over the past few weeks, AliExpress has multiplied initiatives to strengthen its leadership on the Russian e-commerce scene. The Chinese giant has teamed up with Russian online bank Tinkoff Bank to launch a co-branded loyalty program....
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12 May 2015
Moscow and Amsterdam, Netherlands – Yandex (NASDAQ: YNDX), one of Europe’s largest internet companies and the leading search provider in Russia, today announced its unaudited financial results for the first quarter ended March 31, 2015....
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12 May 2015
Founded by Russian businessmen, LSE-listed fund TMT Investments stands as one of the most active Russian-backed funds operating internationally....
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21 April 2015
East-West Digital News is proud to announce the upcoming e-Days E-Commerce Conference, Russia’s first internationally-oriented industry event. The second edition edition of this annual event will be held in Moscow on June 4 and 5, in association the chambers of commerce of France and Great Britain and online marketing agency BuzzFactory joining EWDN as co-organizers and partners....
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17 April 2015
eBay has become the first US company to say it will comply with the new Russian legislation requiring businesses to store Russian users’ personal data in Russia, business daily Kommersant reported earlier this week....
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13 April 2015
Russian Internet firm Yandex will reduce its staff by 3 percent and slash hiring as the country’s economic crisis forces the company to optimize its operations and expenses, a spokesperson for the company said earlier this month....
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13 April 2015
On April 1 Visa and MasterCard joined Russia’s newly-created National Card Payment System, which was launched in response to US sanctions against Moscow and can be considered the first step towards the creation of an autonomous financial system in Russia....
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9 April 2015
In a survey of its customers conducted in February, fashion flash sales site KupiVIP.ru found that new online consumer behavior is emerging in the current unstable economic context. No less than 83% of clothing and footwear buyers are looking primarily for discounted products — a proportion 1.5 times higher than in early 2014. The survey also found that 58% have...
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2 April 2015
Earlier this month Net Element, a NASDAQ-listed provider of mobile payment and value-added transactional service and solutions in Russia and in the United States, announced the acquisition of Russian Internet payment service provider (IPSP) PayOnline....
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2 April 2015
With a montly trading volume exceeding $2,2 billion in 2014, B2B-Center.ru, Russia’s main electronic trading platform, serves more than 200,000 clients from 120 countries....
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2 April 2015
In December last year Oktogo, a major Russian online travel agency and content portal, secured “more than $5 million” from a pool of investors which included essentially Poland’s MCI Management, Luxembourg’s Mangrove Capital Partners, France’s Ventech and Russia’s ABRT....
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18 March 2015
Goldman Sachs invested $8 million in Onetwotrip.com, a Moscow-based startup that sells air tickets and hotel bookings to users from Russia and several European countries....
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15 March 2015
Russian wedding startup Wedvice, a resident at the business incubator of the Naberezhnye Chelny IT park, in Tartarstan, has received 25 million rubles (a little more than $400,000 at the current exchange rate) in investment....
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15 March 2015
Russia’s biggest online retailer is now visiting the New York Stock Exchange and NASDAQ and plans to scout out Hong Kong and London in coming months as potential venues for an up to $1.5 billion IPO in 2016, the company’s spokesman Brian Kean told The Wall Street Journal....
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11 March 2015
Until recently, a number of Western online retailers of all sizes enjoyed growing popularity among Russian customers, who appreciated their diversified assortment and virtually tax-free purchases. Among the most popular product categories were clothing, consumer electronics and gadgets as well as automobile parts....
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9 March 2015
Russian company Wicron has attracted 5 million rubles (approximately $80,000 at the current exchange rate) of investment from Ashmanov & Partners, a leading Russian web and SEO agency. The transaction took place in December 2014, but was announced only last month....
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5 March 2015
Led by Alibaba’s B2C subsidiary AliExpress, Chinese online retailers have gained a significant share of the Russian e-commerce market over the past two years. Of the 70 million orders that were shipped by foreign online retailers to Russia last year, more than two-thirds came from China, according to estimates cited in EWDN’s lastmarket research....
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5 March 2015
Investors are ready to plow up to $20 million into joint startup projects between India and Russia, the Skolkovo Foundation reported last month....
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5 March 2015
Last week Runa Capital, a venture firm operating globally from its offices in Moscow and San Francisco, announced a €3 million investment in MariaDB Corporation, a global software vendor specializing in high availability, high performance and highly scalable open source database solutions....
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2 March 2015
Earlier this month SBT Venture Capital, the venture arm of Russia’s national savings bank Sberbank, led a $6.5 million investment round for Mobeewave, a Canadian startup that develops fast and secure NFC mobile payment acceptance services. Business angels also participated in the round, but their identity has not been disclosed....
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2 March 2015
Buran Venture Capital, a Moscow-based, internationally-oriented venture fund, appears to be among the backers of Shazam, which raised $30 million this past January in a funding round that valued it at over $1 billion....
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26 February 2015
According to new research conducted by Teleperformance, a global outsourcing specialist in segments such as customer service and technical support, complaints of Russian consumers towards cross-border e-commerce companies center primarily on failed marketing obligations, returns queries and currency conversion processes....
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26 February 2015
Overall, user queries for air tickets rose from 19% to 25%. Travel queries in Moscow are heavily dominated by air ticket queries. Meanwhile, in non-capital regions interest in hotels correlates with interest in package tours....
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25 February 2015
Ulmart, Russia’s leading e-commerce company, confirmed today its plan to go public next year in a yet-to-be-determined Western stock exchange, the company’s chairman and co-owner Dmitry Kostygin told Russian business daily RBC....
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20 January 2015
With e-commerce sales in Europe estimated at over £130 billion in 2014, one of the biggest challenges this fast growing sector is facing is how to adapt their e-commerce and omni-channel supply chain and fulfilment operations to meet rapidly changing customer delivery expectations....
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20 January 2015
Over the past few years Boxberry, a relatively new player on the Russian e-commerce shipment market, has been developing a competitive offer for deliveries and customs clearance from the USA and Europe to Russia. The company specializes in express cargo – sending packages worth up to 1,000 euros and weighing up to 31 kg. Part of the international delivery cycle is run out of the Bo...
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19 January 2015
MasterCard has agreed to transfer card processing inside Russia to the National System of Payment Cards (NSPC) while Visa is still discussing the matter with the authorities, Interfax.ru reported, citing the Central Bank’s press service....
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15 January 2015
The Russian telecommunications regulator Roskomnadzor has blocked access to five bitcoin-related websites because the cryptocurrency “contributes to the growth of the shadow economy.”...
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13 January 2015
Several changes in the Russian e-Commerce Fashion market have transpired over the past year. This 90-slide industry report prepared by Yandex analysts covers these changes in detail....
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22 December 2014
In line with the global trend, over the next few years the main driver of m-commerce in Russia will be the growing number of tablet and smartphone users. This is the primary thesis of the study “The Russian M-Commerce Market in 2014,” presented by the marketing agency RBC.research and reported by the e-commerce online portal Oborot.ru. The study defines m-commerce as the &ldq...
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19 December 2014