Kismet Capital buys Russian fintech firm from Fleetcor

MOSCOW. Aug 16 (Interfax) - Kismet Capital Group, the investment group of Russian businessman Ivan Tavrin, has acquired 100% of shares in Advanced Payment Solutions LLC (APS), a fintech company that services fuel cards at Russian filling stations, from U.S. company Fleetcor Technologies .

The transaction was approved by the Federal Antimonopoly Service, the Russian government commission for control over foreign investment, and the U.S. Office of Foreign Assets Control, APS said in a press release. The financial details of the deal were not disclosed.

APS closed 2022 with a net profit of 2 billion rubles on revenue up 20% to over 115 billion rubles, the SPARK-Interfax system showed.

APS, which became the first Russian division of Fleetcor in 2008, operates on the market of processing technologies for corporate payments for fuel and in associated segments such as payments for parking, carwashes, business trips and hotels. The company's customers include more than 70,000 businesses and individual entrepreneurs.

Fleetcor Technologies provides payment solutions for businesses, the main one being a fuel card, an analog of a bank card used for cashless payments for fuel at filling stations.