The analytical agency Smart Ranking conducted a study of the Russian financial technology market in the third quarter of 2024 and the results showed that revenue from this segment of the domestic business reached 57.2 billion rubles, 5.9% more than the results of the second quarter. of this year.
Author:
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According to the study cited by TASS, “this figure is 1.73% higher than the figures for the same period in 2023.” The top three in terms of revenue were:
- electronic payment service “UMoney” (5.7 billion rubles),
- online cash register operator “Evotor” (4 billion rubles),
- Tensor, federal IT holding (3.9 billion rubles).
The leading segment within the fintech market in terms of quarterly growth was the lending segment (+11.7%), while the worst performance was recorded by B2B services (-0.3%).
The experts and authors of the study attribute the relatively small figures of both growth and losses to the general market situation, when players adopt a wait-and-see attitude:
“The Russian fintech market is going through a phase of challenges: they relate to both changes in monetary policy and a decline in venture capital investments in startups. Until the period of volatility passes, companies are more focused on maintaining current performance.”
Author:
Ekaterina Alipova
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.
