Russian digital banking giant Tinkoff acquires payment automation service Jump.Finance

Russian digital banking giant Tinkoff acquires payment automation service Jump.Finance
Russia's only purely online bank TInkoff has acquired a payment automation service that will improve its corporate offering / wiki
By East West Digital News in Moscow November 26, 2021

Tinkoff, the Russian digital banking giant, has taken control of Just Look, the company behind the Jump.Finance payment automation service. Tinkoff purchased a 51% stake under undisclosed terms, reports East-West Digital News (EWDN).

Founded in 2017 by Anton Kirillov (CEO) and Mikhail Kirchenko (CTO), Jump.Finance has asserted itself as a major provider of payment automation software for taxi fleets, car dealers, delivery companies, scrap collector and other businesses working with self-employed contractors. These solutions can also help streamline paperwork, accounting and order management.

Jump.Finance will be integrated into Tinkoff Business — Tinkoff’s branch for SMBs, — retaining its current team.

“Jump.Finance will add value to Tinkoff Business’ set of industry solutions for businesses and entrepreneurs. Jump.Finance customers will receive seamless access to business finance products such as credit, identification, virtual card issuance and account management,” according to a company statement.

“By combining Jump.Finance technologies and Tinkoff Business infrastructure, we can create best-in-class solutions for companies across different sectors. We remain open to integrating other solutions into our ecosystem, where we can enable their significant growth by providing access to Tinkoff’s financial technologies,” commented Stanislav Bliznyuk, Chairman of the Management Board at Tinkoff Bank.

Jump.Finance currently serves “over 3,000 companies” — including such industry majors as Gett, Yandex.Taxi and Citymobil — enabling payments to “over 500,000 individuals and self-employed persons.”

The company expects to generate some 200mn rubles ($2.65mn at the current excchange rate) in revenue this year, up 200% year-on-year.