Tech
Russian e-commerce continued fast growth in H1 2019, Wildberries stronger than ever
Russian e-commerce kept growing fast in the first half of this year, reaching 725bn rubles (slightly more than $11bn), up 26% from H1 2018. And market leader Wildberries is growing even faster than the rest of the sector
Russian digital major Yandex launches an investment portal with VTB Bank
Yandex has announced that it is getting into bed with the state’s second biggest bank VTB bank to create a fintech service to sell equities and funds to retail investors.
Romanian private equity fund Morphosis buys stake in IT startup DocProcess
Investment will allow family owned DocProcess to expand in Romania and in the wider European market.
Czech energy giant CEZ buys a stake in German solar start-up Zolar
CEZ executive calls Zolar the "pioneer of an innovative, decentralised model for purchasing rooftop solar systems".
Sberbank and Trafigura of Singapore make pilot blockchain transaction securing West Siberian oil sales
Pilot blockchain transaction during Russia’s Eastern Economic Forum is an early foray into a technology that is popular with Russians.
“Airbnb for boats” GetMyBoat reports surge in Southeast European business
GetMyBoat, which describes itself as the world’s largest “Airbnb (or Uber) for boats” has seen a dramatic surge in business in Central, Eastern and especially Southeast Europe this summer.
Porsche boosts stake in Croatia’s Rimac to 15.5%
Porsche is strengthening its existing partnership with Rimac Automobili after it bought a 10% stake in the Croatian electric super sports car maker last year.
German IoT company Aconno enters Croatian market
Talented IT experts and proximity to European markets drew Aconno to Croatia, despite concerns over bureaucracy, founder says.
Russia's Sberbank completes acquisition of Rambler online media group
Russia's largest bank state-controlled Sberbank announced the completion of acquisition of a 46.5% stake in Rambler Group, an online media and entertainment major, secured by approval of the antimonopoly authorities
Electronic payments used overwhelmingly in Russia; contactless payments increasingly popular
Virtually everyone uses electronic payment means in Russia, with 91% to 96% of respondents, depending on the region, having used them at least once per year.
Russian food delivery company secures $5mn from international marketplace Joom
iGooods, a major product delivery company in Russia, has agreed a “strategic partnership” with Joom. This Russian-founded international marketplace has disbursed 325mn rubles ($4.9mn) in exchange for a 10% stake in iGoods
Maximum Education secures $6.2mn from major Russian funds
In late July Skolkovo Digital, a tech investment fund managed by Skolkovo Ventures and iTech Capital, led a $6.2mn Series B round in Maximum Education
US digital media company acquires Russian AI-driven content personalization technology
US digital media company PressReader has acquired News360, a Russian-founded, California-based provider of content personalization and publisher analytics tools. The amount of the deal, announced last week, has not been disclosed, reports East-West D
Russian e-commerce market grows 26% in 1H19
Russian e-commerce market in 1H19 expanded by 26% year-on-year to RUB725bn ($11bn). The number of purchases online was 191mn in the reporting period, up by record-high 44%.
Slovenia’s Eligma receives €4mn investment from Bitcoin.com and Pangea Blockchain Fund
Investment to fund global expansion for Eligma, which aims to make cryptocurrencies part of daily life and shopping.
Czechs show their back to Europeans in e-commerce via mobiles, according to JP Morgan
The Czech Republic is most perspective European country for the development of e-commerce among the frequent users of mobile phones for online shopping, according to a study by US bank JP Morgan. Czechs make half their purchases using a phone
Austria’s S&T takes over Moldovan IT company Bass Systems
Bass Systems won large contracts with the state during the Democratic Party's rule that abruptly came to an end in June.
Czech hospitality start-up raises $33mn in funding
Battery Ventures’ Series B investment pushed hotel reservation management platform Mews’ value up over $200mn.
Telegram messenger could test crypto platform in September
Telegram messenger of Russian self-exiled digital entrepreneur Pavel Durov could start testing its blockchain network TON (Telegram Open Network) on September 1, Vedomosti daily reported on August 28 citing unnamed investors in TON.
Chinese online retailer Joom buys into Russia's iGooods delivery service
iGooods is the largest Russian delivery service for groceries from food retailers, servicing such chains as Lenta, Karusel, Magnit, Globus, and Metro Cash & Carry.