Russian billionaire Oleg Tinkov has sold his stake Sravni.ru, a major Russian finance and insurance marketplace, to Baring Vostok and Goldman Sachs, reports VC.RU. The terms of the transaction were not disclosed.
Sravni.ru defines its mission as “to help people make the right choices and achieve financial goals.” Its users are assisted in choosing financial and insurance products, including deposits, loans, or credit cards, and finding relevant instruments to buy an apartment or make an investment for the future.
Founded in 2009, Sravni.ru attracted funding in 2014 from Tinkoff Digital, the famous online bank owned by Tinkov and Goldman Sachs. The amount of the funds raised was not disclosed, but the company was valued at $5 million at that time, according to estimates that circulated in the media.
Citing official company registers, VC.RU reports that the company generated 1.15 billion rubles in revenues in 2019 (approximately $18 million at the average exchange rate of the year). Net profit reached 6.9 million rubles (a little more than $100,000). An affiliate company called Sravni.ru Labs generated 139.7 million rubles in revenues and 15.9 million in profit (around $2.2 million and $247,000, respectively).