The board of directors of the parent company of fintech service CarMoney, PJSC SmartTechGroup (STG), decided to create an IT company within the group’s perimeter, the group said in a statement.

Parent structure of fintech service CarMoney will create IT company to increase revenue and profits

STG, in addition to focusing on its core business, reportedly plans to make money by selling software solutions and technologies to B2B clients. “This is a promising direction that promises significant growth in the group’s customer base, revenue and profits over the next three years,” the statement said.

The provisional name of the new structure is “Smart Horizon.” One of its tasks will be to prepare complex IT solutions for new fintech service partners based on the CarMoney IT platform, carry out adaptation and seamless integration into the software products of banks, microfinance organizations and leasing companies.

Smart Horizon will be registered in Russian jurisdiction. In the first quarter of 2024, the company expects to receive the status of an IT company at the Ministry of Digital Development and during this year it is planned to submit an application for residency in Skolkovo.

  • CarMoney was founded in 2016 by Anton Zinoviev and Konstantin Evdakov. The service provides services to grant loans to individuals, legal entities or entrepreneurs. With CarMoney, the user receives a loan guaranteed by their car. According to SPARK, CarMoney’s share of the auto loan market exceeds 55%.
  • According to the Expert RA rating agency, in 2023 the service was among the top 10 MFOs in terms of portfolio size and net profit.


Anastasia Marina

Source: RB

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