The Fintech Companies in Russia have recently been facing some regulatory challenges due to some economic, social and political factors. However, there are several notable players doing great in the Russian Fintech Industry. This random list of top 10 fintech companies in Russia will give you an understanding of how they are doing:
1) Double Data
Founded in 2012 by Pavel Shuvalov and Maxim Ginzhuk, Double Data targets financial institutions that need to increase their performance for various processes – from debt collection to customer acquisition and assessment. The Double Data software combines computer-aided learning methods, Big Data analysis tools, and data mining.
LifePay was founded by Viacheslav Semenchuk in 2012. Certified by Visa and MasterCard, LifePay is a mobile solution that allows credit card payments acceptance. With guaranteed transactional security, it allows credit card payments on smartphones. The company’s app offers transaction analytics with information for every payment or refund in the developed LifePay solution.
QIWI is a top provider of next-generation payment services in CIS and Russia. It boasts of an integrated proprietary network that allows payment services across a mobile, online and physical channel. The company has deployed more than 16.7 million virtual wallets, more than 149,000 kiosks and terminals. It also has over 57 million customers that use its network per month.
Since 1991, Diasoft has been offering cutting edge financial software solutions that support all aspects of, corporate, retail and universal banking, insurance business, and capital and treasury market services. America Banker lists the company among the top 100 companies in fintech. The company has estimated revenue of $80M.
5) Blackmoon Financial Group
Blackmoon is a technology platform that offers Marketplace Lending as a Service for balance sheet lenders. MPLaaS allows balance sheet lenders to get institutional funding through a marketplace approach. Recently, the company secured $2.5 Million in Equity Funding.
6) InVenture Partners
Founded by Sergey Azatyan and Anton Inshutin in 2012, InVenture Partners helps entrepreneurs start or grow disruptive technology business. The company helps entrepreneurs to solve real problems and back many ventures across technology industry especially those that focus on marketing, financial technology, marketplaces and online education segment. So far, the company’s raised fund is $283.35M.
7) Touch Bank
Touch Bank is an online banking start-up launched by the international project of OTP Group in Russia. Under OTP Bank’s license, the company has been operating since 2015. Beyond traditional brick-and-mortar limitations, the company has created a non-conventional bank. All the banking services are provided via smartphones app and over the internet with exceptional customer support, and strong digital support.
Founded in 2012, MILI is a financial company that provides services for microfinance. Its technology enables it to give loans to active users of social media networks. A credit decision is made on the website within few minutes with money transferred via one of major retail chain in Russia (more than 5,000 retails posts)
9) Russian Venture Company Seed Fund
Established in 2006, Russian Venture Company Seed Fund is a government initiative to support fledgling Russian ventures. The company’s main aim is to invest and boost innovative Russian start-ups that promise high growth opportunities. The company has a capital base of about US$ 1 billion.
10) Dengi Online
Dengi Online is a payment systems aggregator that offers payment services for websites. It implements a system of payments that accept payments made through bank cards, mobile phone operators, internet payment systems, and cash payments.