The Internet Initiatives Development Fund (IIDF) invested 100 million rubles in the management accounting and business analysis service “Finansist”. IIDF portfolio manager Ilya Korolev told RB.RU.

IIDF invested 100 million rubles in the St. Petersburg “financier”, former top manager of General Motors
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“Before the current round, IIDF investments in the company amounted to 2.5 million rubles with a stake of 3.06%. In this round, the amount of financing amounted to 100 million rubles on the conditions of a convertible loan and an increase in IIDF’s participation to 12.75%,” Korolev said.

The IIDF’s stake in the company changed on October 16.

According to the portfolio manager, “Finansist” offers companies an effective tool to manage cash flows without routines or reporting errors, the company shows more than double annual growth. The company’s annual recurring revenue (ARR) is approaching 130 million rubles.

“At the same time, as investors, we see a number of additional business growth factors, in particular the increase in sales in the SME and Enterprise segments,” Korolev said.

The Financial service positions itself as an assistant to the financial director, which integrates with 1C and creates management reports itself. The company’s website states that its founder and CEO is Stanislav Kutuzov, former general director of the General Motors division in Russia.

The Finansist website claims that its services are used by Ulysse Nardin, Nissan, Renault, Birkenstock.

Where to get money to do business and how to manage finances? The experts at the educational platform for entrepreneurs “Curso” will tell you.

The Russian legal entity Financier LLC was founded in 2016 by Irina Kutuzova, Alexander Teshebaev, Nikita Sukhachev, Ksenia Parshina and Alexander Popov. The last two participants have already withdrawn from the capital of their company.

As of October 16, the largest participants were Irina Kutuzova with a share of 28.34%, Frii Invest LLC with a share of 12.75% and Denis Tsypulev with a share of 11.32%.

Fria Invest’s share increased against the background of an increase in the authorized capital from 25.2 thousand rubles to 28 thousand rubles.

  • In 2020, Financier raised 37 million rubles from five business angels, including the vice president of the Bank of St. Petersburg, Mikhail Gavrilov, the creator of the Dendy game console, Viktor Savyuk, and several other investors.
  • In 2022, Financier raised $1.8 million from several business angels: the founder of First BIT Anton Dolgov, the director of the First Bit Lab accelerator Roman Kalinkin, the general director of Corus Consulting Alexander Semenov and the general director of the company BFT software development » Alexandra Monosova.

Author:

Ekaterina Strukova

Source: RB

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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.

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