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Prostor and Flint invest $3m in Federal Finance Group

0 29 November 2013

Russian Funds Prostor Capital and Flint Capital have teamed up to invest $3 million in Federal Finance Group (FFG). How much each fund committed and the stakes they have taken in FFG have not been disclosed. 

The group currently manages three projects - CreditCardsOnline, Platiza.ru and the National Internet Passport Bureau (FF.ru) 

CreditCardsOnline is an online service offering detailed information about different credit card options. It includes credit options from 47 Russian banks, and has a monthly audience of 800,000. CreditCardsOnline can help credit organisations increase their user base, while internet users can benefit from a helpful online service where they can find all the information they need to make credit-related decisions without going to a bank. 

Platiza.ru is an online microloan service, offering instant 1-30 day loans of up to $500. On average, 80% of applications are approved. Platiza is the leading player in the Russian online microloans market - issuing $65,000 worth of loans daily. 

The National Internet Passport Bureau (FF.ru) seeks to solve the problem of online anonymity. It issues clients with a electronic identification document that they can use to gain access to many online services. FF’s video identification service allows the identity of individuals to be verified within 3 minutes. 


Aleksey Solovev - Managing Partner of Prostor Capital

“Distance financing services are one of the most promising consumer internet segments today. Experts reckon that in 2013 lead generation in the banking sector will be worth $16-21 million, with growth concentrated in credit-related service. Today more than 50% of credit applications are made online - via websites, lead generators or contextual advertising. It’s a win win situation - clients save time and have a greater range of choices, and banks reduce their expenses and gain new clients."

Oleg Seydak - Partner at Flint Capital

"The Federal Finance Group is a great example of a synergy of related business models. By applying their expertise to a range of problems, they have been able to come up with a diverse array of internet services. The team have proved themselves dependable and focussed as they pursue their chosen strategy. We are sure that in the medium term they will establish themselves as a significant player in the Russian internet sector." 

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