Computer software developer Bongo R&D received minority shares in fintech company Dengi Vpered, according to the Unified State Register of Legal Entities. These are planned structural changes to facilitate management in a new stage of rapid growth, representatives of the service told RB.RU.

Software developer Bongo R&D bought the shares of minority shareholders of Dengi Vpered

The changes were registered on February 20. Now the shares owned by DV LLC are distributed as follows: 70.54% for Bongo RD LLC, 16.6% for Evgeniy Nekrasov, 12.8% for Pavel Guzhikov.

“This is not yet an agreement, it is a purchase of minority shareholders (the operational team) in connection with the fulfillment of the plans and their transfer to an expanded incentive program,” Guzhikov told RB.RU.

The founder of the analytical platform Dsight, Arseny Dabbakh, estimated the “Money Forward” at 925.4 million rubles. or 10 million dollars. In his opinion, Bongo RD increased its stake, probably at the cost of the company’s losses. “Since we do not know the losses in 2023, we take 2022, that is, between 120 and 140 million rubles,” the analyst noted.

The buyback could help the company break even to take advantage of the strong growth it experienced in 2022, he said. DSight suggested that it is possible that if the startup performs well and becomes profitable, Bongo RD will buy an even larger stake.

  • “Money Forward” is a request to pay wages to an employee at any time they request it. It was launched in December 2019 by the founder of job search service Worki, Pavel Guzhikov, and venture investor Konstantin Stiskin. The founders of the project invested 200 thousand dollars of their own funds in the development of the platform and application.
  • Bongo R&D is a technology company that helps put an online bank, Internet project or mobile application into commercial operation. It was founded in 2014 by Pavel Guzhikov.


Karina Pardaeva

Source: RB

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