Participated · Series B · Aug 2021

Aviasales is a travel metasearch platform led by CEO Max Kraynov and based in Moscow, Russia. It attracts a monthly audience exceeding 15 million users and reported an estimated gross merchandise sales volume in 2021 of more than $1.6 billion. The company operates Travelpayouts, a global travel affiliate marketing platform with over 300,000 affiliate partners and more than 90 travel advertisers, including Booking.com, BlaBlaCar, GetYourGuide, Viator, and Agoda. Aviasales intends to use the new funding to launch new products and accelerate growth across international and domestic markets. It also plans to further develop its corporate travel service and expand Travelpayouts. The article frames these moves as part of a growth and product-expansion strategy supported by the raise. Aviasales is a travel metasearch service that lets users compare flight and hotel offers across many sources; it operates in Russia under Aviasales and internationally as JetRadar. The company also runs the Hotellook hotel price comparison product and the Travelpayouts affiliate network. Aviasales' travel metasearch gets more than 4 million monthly unique visitors and handles over 500,000 ticket search queries per day; it compares prices across more than 100 ticket agencies and more than 60 airline carriers. JetRadar claims more than one billion fliers use the service annually, with key markets including the U.K., Germany and Australia. In Russia the company competes with and reportedly outperforms services such as Skyscanner, Kayak and Momondo. Reported growth exceeds 100% a year.

Participated · Equity · Nov 2018

The Bitfury Group is a full-service blockchain technology company that builds hardware, security and software solutions for governments, corporations and the Bitcoin network. Its products include custom semiconductor chips, mobile datacenters, the private blockchain framework Exonum, analytics platform Crystal Blockchain and Lightning Network engineering (LightningPeach). Founded in 2011, the company employs about 700 people across 15 countries and operates five data centers in Iceland, Canada, Georgia and Norway. Bitfury reported triple-digit growth and more than half a billion dollars in revenues. The company says it will use proceeds from the placement to support growth and expand into adjacent market segments such as AI. Management retains control of the company. BitFury Group is a Bitcoin and private blockchain infrastructure provider and transaction processing company headquartered in Amsterdam, The Netherlands. Led by CEO and founder Valery Vavilov, BitFury develops and delivers both the software and the hardware solutions necessary for businesses, governments, organizations and individuals to securely move an asset across the Blockchain. The company's core offerings combine hardware and software infrastructure for blockchain transactions. In January 2017 BitFury received a US$30m investment from Credit China FinTech. The investor signed a deal with BitFury to establish a joint venture focusing on the China market. The collaboration will assist Credit China FinTech in maximising the adoption of the Bitcoin Blockchain and private Blockchains into its various platforms. BitFury builds Bitcoin blockchain infrastructure and transaction-processing hardware and services. Its product lineup includes the HexFury USB mining rig (six ASICs) and a recently rolled-out 28 nm chip. The company acquired immersion-cooling startup Allied Control and is building a 'Techno Park' to host a new 100 MW data center in the Republic of Georgia. It secured $20 million in funding to bolster its blockchain infrastructure. Founded in 2011 by Valery Vavilov and Valery Nebesny, BitFury has offices in San Francisco, Washington, D.C., and Amsterdam, and data centers in Iceland and the Republic of Georgia.

Led · Series A · Jul 2015

TradingView provides freemium SaaS charting and social networking tools for traders, centered on its proprietary JavaScript-based PineScript language that enables custom financial analysis. The platform lets users build and share analysis and grew by offering charting to partners such as SeekingAlpha, Bitfinex and the Nasdaq. It offers three paid subscription tiers at $15, $30, and $60 per month and had about 8 million monthly active users as of March, with roughly 61% coming from direct traffic. Nearly 75% of the company’s revenue is derived from individual monthly subscription plans. Executives say TradingView has enjoyed consistent growth for the past seven years. Management also says it plans to continue expanding among retail traders while pushing to serve more institutional clients. TradingView is a social FinTech platform launched in 2012 in Chicago that offers real-time financial charts and a community where amateur and professional investors and traders share insights and ideas free of charge. The site reports over 500,000 monthly active users across 100 countries and its charting/data feeds are used by more than 4,000 financial portals and websites. The company produces embeddable financial charts and data that power sites such as Investopedia, InstaForex and DailyFX. TradingView plans to use new funding to develop and launch additional services, including localization, and to expand sales and marketing to enhance customer acquisition. It also intends to implement new data feeds to broaden its product offering.

Led · Equity · May 2015

Clickky operates a comprehensive mobile app marketing platform with in-house technology for user acquisition, traffic monetization and performance analysis, including a DMP, affiliate and offerwall network with more than 10,000 traffic partners. The company runs campaigns across multiple traffic sources using its own targeting and optimization capabilities and says it was the first to introduce cost-per-engagement pricing for non-incentivized mobile traffic at global scale. Clickky plans product expansion including new analytics and media-buying features and intends to launch a mobile advertising sales agency called MobiLimes. The recent investment will support expansion into the United States, South-East Asia and other emerging markets. Clickky operates globally from its headquarters in Odessa and has representative offices in Berlin and Moscow. The startup counts clients such as Alibaba, Blablacar, Yandex, Glispa, MobPartner, InMobi, Wooga and Plarium, and says its revenue grew two-fold last year.

Led · Series B · May 2014

Ecwid sells e-commerce tools directly to SMBs and via partners, enabling merchants to build storefronts on websites, apps and sell through channels such as Facebook, Instagram, Amazon and Google. Its pricing includes a free tier for up to 10 products, with paid tiers adding integrations, inventory capacity and analytics. The company also white-labels its rails through partners like Wix, GoDaddy and Square and serves roughly 1.5 million SMBs across 175 countries in 54 languages. Founded in 2009 in Russia as a spinout of X-Cart and now San Diego-based, Ecwid is profitable. In 2019 sign-ups doubled and the product has a Net Promoter Score above 60; transaction volume grew 50% between March and April amid the COVID-19 outbreak. Ecwid is positioned alongside platforms such as Shopify, BigCommerce and WooCommerce as a low-barrier e-commerce option for analogue small businesses. Ecwid is an e-commerce platform originally founded in Russia that lets merchants build stores on social networks like Facebook, on their own sites, and on mobile. The product is offered as a "true freemium" model, where merchants can use the service for free if selling 10 items or fewer and pay for upgraded features beyond that. The company reports about 500,000 merchants across roughly 175 countries and added some 50,000 users since April following deeper integration with Facebook. In January 2013 Ecwid took on Payvment’s 200,000 merchants after Intuit acquired Payvment’s platform but not its existing business. Management says it will use new funding to expand platform functionality, enable cloud-based transactions, and broaden mobile and point-of-sale options. Ecwid competes with larger players like Shopify and Bigcommerce and claims conversion rates on its freemium model that are above industry average. Ecwid provides shopping-cart software that enables individuals and small businesses to set up an online store on their website or on social networks in minutes. The company reports more than 100,000 customers across 174 countries, with roughly 40% of customers located in the United States. Ecwid is a Russian startup and this financing marks its first institutional round. The product is positioned for rapid international adoption given its lightweight integration model. Management plans to use the capital to expand into key markets, including opening Ecwid's first office in Mountain View, California in early 2012 and broader expansion to the US and UK. No revenue figures or prior funding rounds are disclosed in the article.