InVenture Partners and Almaz Capital Partners backs Russian startup 2can

2can has raised $5 million in Series B financing. Investors were InVenture Partners, Almaz Capital Partners and ESN Group. 2can is a Russian mobile payments startup.

PRESS RELEASE

Russian market leader in mobile acquiring company “Smartfin” (trademark 2San) announces attracting investment volume of $ 5 million during the round B. investors were venture capital funds InVenture Partners and Almaz Capital Partners, as well as the ESN Group. Became a leading investor in round InVenture Partners. Total investment in the project to date was $ 7.3 million proceeds will be used to increase market share 2can under its own brand, integration with leading banks in the country under the direction of white label and the further technical development of the service.
Draft 2Can, became Russia’s first technological solution allowing any trade and service companies use a smartphone or tablet computer (an iOS or Android) as a secure mobile terminal for receiving card payments anywhere, anytime, was launched in September 2012. Over the last year the service has increased turnover by 500 times, and the number of transactions conducted increased 200 times. In addition, “Smartfin” became the first company in the Russian market, implement EMV-certified solution * for mobile acquiring that allows you to accept the card as on the magnetic strip and the chip.
“We went into the project 2Can year and a half ago, and for this period, the company has demonstrated tremendous growth dynamics. – Commented Sergey Azatian, Co-Founder and Managing Partner InVenture Partners. Today, the level of penetration of terminals for receiving credit cards in Russia 5 times lower than that in Europe and in the 7-fold lower than in the U.S.. 2can project aims to significantly reduce the gap. comparison, analog 2can – American company Square – during the last round of funding was estimated at $ 5 billion have mobile acquiring in Russia, where the decision is even more relevant, great prospects, and our investments are aimed at strengthening leadership 2can in this market. ”
“The new phase of investment gives us a tremendous opportunity. In early 2014 we launched customized solutions for insurance, catering, logistics business. Future plans – run customized payment solutions for other priority segments, the introduction of new features to expand partnerships with banks and payment services, continued active set customer base, – says Nikolay Zhmurenko, co-founder and CEO of “Smartfin.” – We thank the investors for their support in making possible such a rapid development of the project. ”
“It seems to me that the company overcome a critical point in the development of its business, and we are pleased to support 2San continued growth,” – says Alexander Galitsky, Co-Founder and Managing Partner Almaz Capital Partners. * Switching to EMV-decision due to the requirements of the international payment system Visa policy and the Central Bank to stop the production of non-chip cards in Russia from January 1, 2015. to reduce the risk of fraud. The solution includes a mobile application combined (dual) card reader and processing platform, has been certified by the standards of EMV Level 1, Level 2, Visa Ready and PCI DSS.
About “Smartfin”
JSC “Smartfin” (trademark 2san) – a leading developer of mobile service acquiring. 2can mobile app and card reader converted smartphone / tablet based on Android or iOS in the terminal for receiving payment cards Visa and MasterCard. 2can service was launched on the Russian market at the end of September 2012 and became the first Russian mobile service acquiring, to comply with the security of card payments imposed by international payment systems Visa and MasterCard. The first Russian party MasterCard mPOS Best Practices-program enabling technology development using mobile devices as terminals to receive bank cards and accumulating best practices, current knowledge and international experience in the industry. With service 2can compatible maximum amount of more than 200 mobile devices. Confidentiality of data provided through encryption at the card reader; 2can processing platform has a safety certificate PCI-DSS Level1. Smartfin/2can partners have become PSB, Russian Standard Bank, Raiffeisen Bank, Opening, Yandex.
About the Foundation “InVenture Partners” InVenture Partners – venture capital fund specializing in the financing of promising technology companies in the consumer sector. Established in early 2012, Sergei Azatyanom and Anton Inshutin with US $ 100 million of capital raised, InVenture Partners Fund aims to promote new progressive market models based on advanced technologies that are fundamentally changing the traditional sectors of the economy, make people’s lives easier and increase the transparency of economic relations. Among the industries that interest Fund: Consumer Services, Finteco, online marketing and advertising, travel services, business solutions and telecommunications. InVenture Partners investment portfolio now includes the following projects: service taxi GetTaxi, virtual mobile network data Fogg, travel agency OnlineTours unique loyalty program based on mobile technology from Starcard, online agency GetGoing, acquiring mobile service 2Can.

 

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