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bneDNeocvember2017 Companies&MarketsI21
bne:FinTech
Money lending startup CarMoney secures $10mn from local investors
bne IntelliNews
CarMoney, a Russian startup, which allows you to borrow money against your car, attracted a $10mn bridge round from Russian business angels, East-West Digital News reported on November 15.
The investors (the names of whom remain undisclosed) acquired a minority stake in the company.
The fresh capital will be used to develop in-house IT solutions, improve CarMoney’s scoring system, automate the decision- making system, and for marketing purposes.
bne:Deal
As of November 1, CarMoney’s loan portfolio amounts to nearly 1.3bn rubles (approximately $22mn at the current exchange rate), with the market value of securities reaching over RUB3.5bn (some $59mn).
The startup claims to have over 6,000 active users of its services in 59 Russian cities.
The company expects to raise the next round of funding in 2018.
Russian supermarket chain Lenta bought 22 supermarkets in Siberia
IntelliNews Pro
Russian supermarket chain Lenta, one of the largest retail chains in the country, signed an agreement with the Holiday Group to purchase 22 supermarkets in the Siberia region on November 7.
The 22 supermarkets currently operate under the “Holiday Classic”, “Kora” and “Holdy” brands. Of the stores, 11 are located in Novosibirsk region, 7 in Kemerovo and 4 in Barnaul.
A battle for supermarket supremacy has broken out as both Lenta and the X5 Group, currently the largest chain in terms of revenue, are assaulting previous market leader Magnit, which has seen its growth stall in the last two years.
The average selling space per store of Lenta’s acquisitions is around 800 square metres, giving total selling space of approximately 18,000 square metres. The stores are compatible with Lenta’s supermarket format in terms of size and layout, and the locations are complementary to Lenta’s existing stores in the regions.
Lenta’s Chief Executive Officer, Jan Dunning said: “Lenta is pleased to announce an agreement to acquire 22 supermarkets in Siberia from the Holiday Group. This transaction will significantly strengthen our network in Siberia, giving many more customers the opportunity to shop at a Lenta store close to their homes. The stores all have good urban locations and are complementary to Lenta’s existing network.”
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