On Feb. 12 Alipay owner Ant Group, LSE-listed Mail.ru Group, mobile operator MegaFon, sovereign fund RDIF and Alisher Usmanov’s holding USM signed binding agreements to create a payments joint venture (PJV) and a financial services joint venture (FSJV). The deals, which follow an October 2019 non-binding agreement, are still subject to “a number of conditions including third …
Did you know Lithuania ranks #4 in the world for its fintech ecosystem; #11 for ease of doing business; and #1 for the speed of its public Wi-Fi? No wonder why this country is attracting a growing number of startups from across the world, including Eastern Europe. Its high quality of life, low cost of living and …
Lithuania, Europe’s new startup hotspot, welcomes globally-minded entrepreneurs Read More
The Russian steel and mining giant Severstal plans to invest no less than 9.1 billion rubles ($122 million at the current exchange rate) “in IT and digital projects” this year. This year will see “a significant change [in] the company’s IT process model and organizational structure,” following the creation of “four new client teams responsible …
Yandex plans to launch a contactless payment service, challenging Apple Pay, the leader on the Russian market in this segment, as reported by VTimes. According to an internal document seen by VTimes, the users of ‘Yandex Pay’ will be able to save their bank details in the system to settle purchases. In an exchange with …
A challenge to Apple Pay: Yandex reportedly developing contactless payment service Read More
For sad as a pandemic can be to many, Covid-19 has generated a variety of opportunities in Russia for international businesses. Many of them may be seized remotely. To start with, here are a few remarks about the current trends in Russia’s digital sphere: According to Boston Consulting Group, Russia is among the four world …
How to seize digital business opportunities in Russia in pandemic times Read More
StartupBlink has just ranked cities of the world by the number and quality of anti-covid innovative solutions. In the list, which includes 80 cities from 31 countries, Moscow ranks third — behind San Francisco and New York City, but ahead of such major cities as Toronto, Tel Aviv, London, Taipei and Paris. Among Moscow’s innovative …
Moscow ranks #3 among cities of the world for anti-Covid innovations Read More
After Russian social network aficionados, including millions of teenagers, transformed TikTok into a digital rebellion hotspot, the Russian Foreign Affairs ministry opened an account on the Chinese platform late last week. The first videos displayed in the ministry’s account are meant to mock opposition figure Alexey Navalny, refuting his last year’s claims that the Russian anti-covid …
As Russian e-commerce, boosted by the pandemic, is breaking records, service and solution provider PIM Solutions has just received a capital injection of 100 million rubles ($1.3 million at today’s exchange rate) from business angel Dmitry Zobnin. The valuation of the company has reached 2 billion rubles (around $26 million), as Zobnin received a 5.13% …
E-commerce provider secures $1.3 million from Russian business angel Read More
Yandex.Taxi, the taxi-hailing and food delivery joint venture of Yandex and Uber (formally called ‘MLU’), has completed the acquisition of the call centers and cargo business of Vezet Group. ‘Vezet’ means “it’s giving a ride” or “to be in luck” in Russian. Established in May 2017 (resulting from the merger of two local companies), Vezet Group provides ride-hailing, cargo …
Yandex.Taxi acquires assets in the taxi industry in spite of Mail.Ru’s veto Read More
Last month Russoft, a major Russian IT association, released its 17th “Annual survey of the software development Industry.” Even though its data relate mostly to 2019 — not 2020, — this report offers a variety of interesting market insights. Some of them may be summarized as follows: Sales volumes: The Russian software industry (including both software …
Report: Russian software companies generate growing sales in emerging markets Read More
As more and more global companies adopt corporate blockchain solutions, Norilsk Nickel (NorNickel), the world’s largest producer of palladium and high-grade nickel and a major producer of platinum and copper, has announced it is joining the Responsible Sourcing Blockchain Network (RSBN), a network aimed at supporting responsible sourcing and production practices from mine to market. According to NorNickel, the move …
NorNickel adopts blockchain for a more responsible supply chain management Read More
Last week, a sizable deal in the field of neurosciences was announced in Russia. Maxim Basov, an executive from the agro industry, has invested in Wikium, an award-winning startup offering brain productivity exercises for office staff and students. Basov took control of the company, acquiring a 66% stake, Rusbase reported. The amount of the deal was not disclosed, but Rusbase noted …
