23 October 2017

Russian mobile payments outfit uBank raises $8m

25 February 2013  |  5492 views  |  0 Fingers on smartphone keypad

Russian mobile payments start-up uBank has raised $8 million in series a funding from Runa Capital as it prepares to expand outside of its home market.

UBank's mobile payments app enables users to attach credit cards from various banks so they can pay bills and transfer funds from their handsets or PCs.

With the app preinstalled on all Samsung and Fly smartphones selling in Russia, the firm has racked up more than 250,000 Android and iOS downloads since launching at the end of 2012.

The Runa Capital investment will be used to extend the service to CIS countries and beyond, as well as to develop new features such as restaurant bill payment and peer-to-peer money loans. BlackBerry and Windows Phone apps are also in the pipeline.

Laura Ashizheva, CEO, uBank, says: "With investments, which we received from Runa Capital, our company is going to develop more co-operations with regular payment receivers to accept uBank. Therefore, we will out-compete current players on payment transaction quantity using mobile application."
KeywordsFINDEX

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Sberbank takes majority stake in Yandex.Money

Sberbank takes majority stake in Yandex.Money

19 December 2012  |  8741 views  |  0 comments | 5 tweets | 2 linkedin
Sberbank sets up $100 million fintech start-up fund

Sberbank sets up $100 million fintech start-up fund

19 October 2012  |  15893 views  |  0 comments | 3 tweets | 1 linkedin
Russian bank issues Angry Birds card

Russian bank issues Angry Birds card

30 May 2012  |  7411 views  |  0 comments

Related blogs

Create a blog about this story (membership required)
visit www.atos.netvisit www.niceactimize.com

Top topics

Most viewed Most shared
Mastercard to roll out blockchain APIMastercard to roll out blockchain API
19191 views comments | 28 tweets | 41 linkedin
HSBC partners Bud for open banking trialHSBC partners Bud for open banking trial
15131 views comments | 23 tweets | 32 linkedin
Sibos 2017: API or the highwaySibos 2017: API or the highway
10948 views comments | 12 tweets | 23 linkedin
Eight banks form joint venture to launch blockchain trade platformEight banks form joint venture to launch b...
8984 views comments | 14 tweets | 28 linkedin

Featured job

circa £250K total package
London

Find your next job