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Alfa-Bank completes sale of 40% stake in crowdfunding unit Potok Digital

JSC Alfa-Bank finalized the sale of a 40% stake in crowdfunding platform Potok Digital to a group of investors led by FinTech Capital fund managers Yuri Popov and Anton Eremenko.

The financial details of the transaction were not disclosed.

The deal will help the platform attract new customers in the small business segment, expand its product offer and develop partnerships with banks and nonfinancial companies, Alfa-Bank said in its Oct. 9 filing, adding that it will retain a 60% stake in Potok Digital.

As of April 1, the value of Alfa-Bank investments into Potok Digital stood at 140 million Russian rubles, while its book value amounted to 110.5 million rubles, RBC reported Oct. 9.

As of Oct. 8, US$1 was equivalent to 65.29 Russian rubles.