Russia: 2can raises USD 5 mln in Series B funding

Tuesday 1 April 2014 11:20 CET | News

Smartfin, a provider of mobile payment solutions in Russia under the brand 2can, has completed a USD 5 million Series B round of financing with the participation of previous investors InVenture and Almaz Capital, two major Russian venture funds, as well as investment company ESN Group, East-West Digital News reports.

2can was launched in 2012 and its mobile terminals have processed RUB 300 million (almost USD 9 million) to date, with more than 13,000 card readers distributed; 6,000 of these have been activated.

Online stores and food delivery companies account for more than 50% of 2can’s operations.

Additional options by 2can include ERP integration, use of order number, bar code/QR-code scanning from the order form, integration with the mobile fiscal register and fiscal check print-out option.

The Series B round brings 2can’s total funding to USD 7.3 million, including an initial USD 300,000 from co-founders Yury Vladimirov and Nikolai Zhmurenko as well as USD 2 million raised in December 2012.

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Keywords: Russia, 2can, Series B funding, mobile payment, mobile terminals
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce