ESN Group, venture funds invest $5 mln in 2Can mobile acquisition service
MOSCOW. March 28 (Interfax) - The venture funds InVenture Partners and Almaz Capital Partners as well as Group ESN have invested $5 million in Smartfin, a company that provides the 2Can service for accepting payments from mobile devices (mobile acquiring), InVenture Partners said in a statement.
"We entered the 2Can project 18 months ago. In that time the company has demonstrated astounding growth," InVenture Partners co-founder Sergei Azatyan is quoted in the statement as saying. "The penetration level of bank card terminals in Russia is 80% lower than in Europe and 86% lower than in the U.S. 2Can's goal is to substantially narrow that gap," he said.
Smartfin will use the new investment to increase 2Can's market share, integrate with Russia's leading banks in the white label terminal segment and continue the service's technical development.
"In the beginning of 2014 we launched customized solutions in the insurance, restaurant and logistics business," Smartfin co-founder and CEO Nikolai Zhmurenko said. "Future plans include launch of customized payment solutions for other priority segments, introduction of new functions, expansion of partnership with banks and payment services and continuing intensive expansion of the client base," he said.
