22 September 2017
Find out more

Qiwi acquires fintech startup Plati Potom

06 October 2016  |  2937 views  |  0 Source: Qiwi

QIWI plc, (QIWI) (QIWI.ME) (“QIWI” or the “Company”) today announced that it had acquired a 100% ownership stake in fintech startup Plati Potom.

Plati Potom develops innovative post payment solutions for e-commerce and offline retailers as well as cutting-edge data analysis and credit risk management tools.

Core focus areas of Plati Potom include research and implementation of various technologies like data science in the fields of payments, e-commerce and credit risk management.

For QIWI this transaction is another step in implementing its M&A strategy of investing in promising teams and technologies in the fintech space. One of the main goals of this transaction is to acquire proprietary data analysis and scoring technologies as well as the team working on the products. We expect that the data science technology developed by Plati Potom can be applied to a wide range of QIWI products.

The Plati Potom team has already implemented several projects in cross-border e-commerce in partnership with QIWI including a “Payment-on-Delivery” project and several programs aimed at stimulating consumer demand for partner e-shops.

“Acquisition of Plati Potom is aimed at strengthening QIWI’s expertise and positions in the areas of e-commerce and data analysis,” said Yakov Barinskiy, Head of M&A and Business Development. “Apart from a strong technological base, Plati Potom appealed to us because of its good operational dynamics along with highly professional management and software development team that is currently integrating with QIWI.”

“Our team introduced several technological and financial products that are currently being adopted to the capabilities of QIWI infrastructure,” noted Stanislav Saveliev, CEO of Plati Potom. “For us QIWI is a strong and understanding strategic partner. Our collaboration creates many opportunities to develop ambitious projects with high potential in different markets including e-commerce.”

Comments: (0)

Comment on this story (membership required)

Related company news

 

Related blogs

Create a blog about this story (membership required)
visit www.capgemini.comvisit www.sibos.comvisit www.abe-eba.eu

Top topics

Most viewed Most shared
HSBC switches on selfie payments in ChinaHSBC switches on selfie payments in China
12386 views comments | 26 tweets | 41 linkedin
Equifax hack: Visa and Mastercard flag 200k compromised credit cardsEquifax hack: Visa and Mastercard flag 200...
10910 views comments | 6 tweets | 17 linkedin
Dutch bank sentences teenage DDoS culprit to community serviceDutch bank sentences teenage DDoS culprit...
9504 views comments | 6 tweets | 3 linkedin
Apple P2P payments service nears launchApple P2P payments service nears launch
8116 views comments | 18 tweets | 26 linkedin
UAE banks pool cyber security dataUAE banks pool cyber security data
8093 views comments | 5 tweets | 4 linkedin

Featured job

Competitive base + commission + benefits
Denmark, Finland, Iceland, Norway or Sweden

Find your next job