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Report: Alfa-Bank to sell 40% stake in crowdfunding unit to FinTech Capital

JSC Alfa-Bank agreed to sell a 40% stake in its crowdfunding platform Potok.Digital to a group of investors from FinTech Capital, RBC reported Aug. 7, citing several market sources.

The parties are discussing the final procedural details of the deal, which is expected to be finalized by the end of August. Alfa-Bank will retain a roughly 60% controlling stake in the unit, RBC noted.

Set up by Alfa-Bank at the end of 2015, Potok.Digital is a crowdfunding platform that enables individuals to grant loans to small businesses.

FinTech Capital, established by Russian investor Yuri Popov and his business partners, specializes in investments into financial and technological startups, RBC noted.