In a new illustration of the internationalization of Russia’s venture capital, SBT Venture Capital, the venture arm of the national savings bank Sberbank, has led a $12 million round to fund Sequent Software, a California-based provider of trusted service manager (TSM) and mobile commerce software and services.

Sequent’s existing US investors Opus Capital and Jado Investments also participated in the deal.

Sequent’s software and service platform enables consumers to easily and securely download payment cards and other credentials to their mobile devices. Consumers use these credentials to make payments and access information and offers from mobile operators, retailers, and financial institutions.

This NFC-based solution is aimed at “unlocking new revenue potential for service providers, creating choice for consumers, and empowering mobile network operators to monetize these new benefits,” Sequent stated.

The present investment represents the first for SBT Venture Capital, a $100 million venture fund established in early 2012, targeting technologies that may have a significant impact on the financial service industry.

SBT Venture Capital’s Mircea Mihaescu will join the company’s board. “We evaluated several opportunities and concluded that the Sequent team has created the best solution in both breadth and depth for service providers as well as secure element owners,” he stated.

Not only does Sberbank expect financial benefits from the operation but also considers using Sequent’s solutions to develop its own security and mobile applications, notes

You may also like

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 […]
Read More
Berlin-based web hosting startup has raised €1.5 million from Runa Capital, a Moscow-based venture fund operating internationally. This Series A round – the terms of which have not been disclosed – will help the company provide managed services from infrastructure based entirely in Germany. With the many privacy concerns raised after the extent of the US government’s international espionage operations became known, […]
Read More
The Russian mobile operator MTS is considering selling a stake of its online paid video site, the operator’s VP of Marketing Vasily Latsanich announced earlier this week at a press conference. “A content business should be separated from a mobile operator’s business, and we are not the only ones on the market to believe so,” […]
Read More


  1. […] in Russian and foreign startups and created SBT Venture as its investment-vehicle. Last summer, SBT participated in a $12 million Series B for Sequent Software, a California-based firm specializing in the […]