SaaS accounting startup Moe Delo secures $4 million
A leading player on Russia’s young but flourishing market of online accounting services, Moe Delo (pronounced ‘Moyo Dyelo’) announced last week it raised $4 million from Klever Internet Investments. The valuation of the company was not disclosed, but Moe Delo’s founders Sergey Panov and Maxim Yaremko kept a controlling stake, according to the press release.
Moe Delo claims to serve 170,000 registered users as of March 2012, made up of individual entrepreneurs and small businesses. Its software as a service accounting applications help them cope with tedious tasks and reduce the costs related to the Russian accounting system. Moe Delo’s fee plans range from 540 to 5,000 rubles per month, or about $18 to $166.
The startup had previously attracted $2.5 million since its foundation in 2009, the Russian busines daily Kommersant reported.
A branch of Klever Asset Management – which operates in real estate development – Klever Internet Investments seems to be a newcomer on the Russian innovation scene.
Moe Delo did not answer EWDN’s request for more precise information.