18 August 2017
Find out more

Sberbank invests $500 million in e-commerce joint venture

09 August 2017  |  5123 views  |  0 Woman figure shopping on top of keyboard

Sberbank is to spend $500 million to take a 50% stake in Yandex.Market, the e-commerce venture operated by the Russian search engine.

The companies will own equal stakes in the joint venture, which will combine the online savvy of Yandex with Sberbank's digital payments and fulfillment capabilities.

“Sberbank’s banking and payments infrastructure will help us develop simple and secure payment solutions on the Yandex.Market platform and will allow us to introduce new features, such as consumer lending,” says Maxim Grishakov, CEO of Yandex.Market. “The proposed investment will strengthen Yandex.Market’s position in the eCommerce segment allowing us improve our logistics capabilities, accelerate the wide-scale introduction of “Checkout on Yandex.Market” and enhance our value proposition to domestic and international merchants.”

Yandex.Market is one of the largest players in the Russian eCommerce market, providing access to over 20,000 domestic and international merchants and 150 million product offerings to an audience of 20 million users.

Sberbank already has a close relationship with Yandex through previous money transfer joint joint venture Yandex.Money.

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

Singapore to let banks move into e-commerce

Singapore to let banks move into e-commerce

28 June 2017  |  10221 views  |  2 comments | 19 tweets | 38 linkedin
Emirates NBD opens online shopping mall

Emirates NBD opens online shopping mall

26 May 2017  |  6733 views  |  0 comments | 7 tweets | 7 linkedin
Yandex.Money joins mobile messaging revolution

Yandex.Money joins mobile messaging revolution

06 October 2016  |  4420 views  |  0 comments | 5 tweets | 3 linkedin
Sberbank experiments with conversational commerce

Sberbank experiments with conversational commerce

12 May 2016  |  8936 views  |  0 comments | 8 tweets | 9 linkedin
Sberbank takes majority stake in Yandex.Money

Sberbank takes majority stake in Yandex.Money

19 December 2012  |  8681 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  |  15672 views  |  0 comments | 3 tweets | 1 linkedin

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.dorsum.euvisit www.abe-eba.eudownload the paper now

Who is commenting?

Top topics

Most viewed Most shared
China preps central clearing house for mobile payments providersChina preps central clearing house for mob...
10136 views comments | 8 tweets | 16 linkedin
Monzo appoints Curve co-founder Foster-Carter COOMonzo appoints Curve co-founder Foster-Car...
8404 views comments | 1 tweets | 3 linkedin
hands typing furiouslyCompliance: Overcome the data deficit
7844 views 0 | 1 tweets | 9 linkedin
Uneasy sits the crown as cash use continues declineUneasy sits the crown as cash use continue...
7767 views comments | 3 tweets | 7 linkedin