Yandex has consolidated the eCredit car loan platform. Previously, in 2021, the company acquired 25% of the service. Now it is planned to develop the platform together with Avto.ru, owned by Yandex. The press service of the technology company reported on the agreement.
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“eCredit” unites car dealers and banks. The service was founded in 2016. Founder Kirill Larin was the sole beneficiary until 2021, when Yandex first became interested in the business. Then, the Russian company bought 25% of Creditit LLC (the platform’s legal entity). In May 2024, Yandex increased its share to 30%.
It should be noted that the employees of the platform will develop it together with the Avto.ru team. The eCredit brand will remain, but in the future the services will operate through a single personal account.
According to Alexander Zverev, director of business development at Yandex, by combining both services the company will be able to offer the market more tools for selling cars.
“Also in the future and with a certain vector of market development, the automobile business and banks will be able to count on obtaining online loans on Avto.ru,” Zverev noted.
For his part, Kirill Larin, founder of eCredit, noted that Yandex’s investments made it possible to attract new customers and expand its presence in the regions. The company has also developed new products.
“By becoming part of Avto.ru, we will be able to accelerate the pace of development. This, in turn, will open new perspectives for our partners: merchants, banks, insurers and distributors,” said Larin.
Author:
Natalia Gormaleva
Source: RB
I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.
