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O2O enterprise of Group and Sberbank receives $164 million

August 19, 2020, 17:48 (UTC+3)|
388 Group and Sberbank invested 12 billion rubles (approximately $164 million) in their joint venture focused on transportation and food.

The funds will be used to expand areas and scale the businesses that were not included into the perimeter at the moment of the deal closure in December 2019. Among them there are 2GIS mapping service and Samokat express food delivery (75.6% stake consolidated in May), as well as other assets.

Moreover, the parties explain that the management of the joint venture is confident about the prospects of not only food delivery from restaurants, but also e-grocery, dark kitchens and dark stores.

Following the additional funding, Sberbank and Group will continue to have equal stakes in the joint venture (45.005% each).

Original (in Russian)


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