Yandex consolidates eCredit B2B car loan platform

MOSCOW. June 4 (Interfax) - Yandex has increased its ownership stake in the eCredit B2B car loan platform (Creditit LLC) to 100%, the company said in a statement.

The platform team will join Avto.ru (part of the company's Verticals business unit).

"The combined team will improve existing, and introduce new, digital solutions for the auto business, while the eCredit brand will be preserved," the statement said.

Yandex's Yandex.Verticals LLC division invested in the platform for the first time in 2021, receiving 25% of the company. It increased its share to 30.18% in May 2024.

Creditit LLC tripled its revenue in 2023 to 343 million rubles, while net profit reached 68 million rubles.