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QIWI takes over fintech startup Plati Potom

Cyprus-based, Nasdaq-listed , which provides paymentservices in Russia, acquired a 100% holding in Plati Potom, a Russian fintechstartup developing post-payment solutions for e-commerce and offline retailersas well as data analysis and credit risk management tools.

Financial details of the transaction were not disclosed

One of the main goals of the takeover is to acquireproprietary data analysis and scoring technologies as well as the team working onthe products, QIWI said Oct. 6. The company's head of M&A and businessdevelopment, Yakov Barinskiy, added that the acquisition will strengthen QIWI'sexpertise and position in the area of e-commerce and data analysis.

Plati Potom has already implemented a number of projects incross-border e-commerce in partnership with QIWI, including apayment-on-delivery project and several programs aimed at stimulating consumerdemand for partner e-shops.