Fri, 09/11/2012 - 06:20
Private equity fund manager Horizon Capital has purchased four per cent of shares of Tinkoff Credit Systems (TCS Bank) for USD40m.
TCS is a credit card company and the first online bank in Russia.
It is controlled 100 per cent by Egidaco Investments.
The funding for this deal comes from Horizon Capital’s Emerging Europe Growth Fund II (EEGF II), which was raised in 2008.
Oleg Tinkov, founder of TCS Bank, says: “We are proud of the business we have built so far. Russia has a very large and growing credit card market, and we are very well positioned to capture this growth opportunity. Our branchless model and superb marketing and IT expertise allow us to provide the highest quality service to our customers. We welcome Horizon Capital as our new partner and look forward to working together.”
Mark Iwashko, founding partner and chief investment officer of Horizon Capital, says: “We are happy to partner with this outstanding serial entrepreneur who has a proven track record of building successful businesses. TCS Bank is a unique platform for the region with sustainable cost advantage, best-in-class management team, a large and growing base of clients, and tremendous prospects for the future.”
Following this equity transaction, alongside the founder of the bank and majority shareholder, Oleg Tinkov, there will now be four international investment institutions: Goldman Sachs, Vostok Nafta Investment, Baring Vostok Private Equity Fund IV and Horizon Capital.
Wed 17/12/2014 - 17:00
Tue 16/12/2014 - 11:00
Tue 16/12/2014 - 06:00
Mon 15/12/2014 - 13:45
Fri 19/12/2014 - 18:30
Fri 19/12/2014 - 09:15
Fri 19/12/2014 - 07:00
Thu 18/12/2014 - 12:30
Fri, 19/Dec/2014 - 22:00
Fri, 19/Dec/2014 - 17:15
Fri, 19/Dec/2014 - 16:30
Fri, 19/Dec/2014 - 13:00
Fri, 19/Dec/2014 - 11:30
Fri, 19/Dec/2014 - 11:23
Sat, 20 Dec 2014 00:00:00 GMTEntry Level Financial Software Developer
Sat, 20 Dec 2014 00:00:00 GMTC#.NET Developer – Quantitative Risk, Fixed Income
Sat, 20 Dec 2014 00:00:00 GMT