TCS Group acquires controlling stake in fintech Jump.Finance

TCS Group Holding PLC, which includes Russian lender JSC Tinkoff Bank, acquired a 51% stake in Just Look, the developer of Russian fintech service Jump.Finance that provides payment automation software for taxi fleets, car dealers and other businesses that work with self-employed contractors.

Financial details of the transaction were not disclosed. Jump.Finance will be integrated into Tinkoff Business, the branch of TCS Group that provides services to small, medium-sized and large businesses.

Jump.Finance is currently used by over 3,000 companies, making payments to over 500,000 individuals and self-employed persons. The company expects to generate approximately 200 million rubles in revenue for 2021, up 200% year on year.

As of Nov. 26, US$1 was equivalent to 75.72 Russian rubles.