Tinkoff adds to business ecosystem with Jump.Finance
Tinkoff has acquired a 51% stake in Just Look, developer of Jump.Finance, a fintech that automates interactions with freelancers, including payments.
The deal was undertaken on behalf of Tinkoff Business, the branch of Tinkoff Group that services SMEs and large businesses.
Jump.Finance will be integrated into the Tinkoff Business ecosystem and retain its current team, including co-founders Mikhail Kirichenko and Anton Kirillov. The financial terms of the deal have not been disclosed.
Jump.Finance is a provider of payment automation software for taxi fleets, car dealers, scrap collectors, delivery companies and other businesses that work with self-employed contractors. The service also helps streamline paperwork, accounting and order management.
Jump.Finance customers will receive access to business finance products such as credit, identification, virtual card issuance and account management.
The service is currently used by over 3000 companies, making payments to over 500,000 individuals and self-employed persons.
The company expects to generate approximately RUB 200 million in revenue for 2021, up 200% year-on-year.
Stanislav Bliznyuk, Chairman of the Management Board at Tinkoff Bank, says: “Tinkoff Group aims to become a strategic investor in companies that demonstrate sustainable growth, and are able to strengthen our individual business lines, as well as the Tinkoff ecosystem as a whole.”