Sberbank became interested in the smart housing and communal services market. The bank received a minority stake (5%) in the “Smart Resident” project, which connects citizens and management companies and allows to automatically collect data from meters and pay bills.
The service was launched in 2016. According to Russian accounting standards, in 2019, the revenue of the company amounted to $198 thousand with a net profit of $116 thousand. In 2019 the company participated in the Sberbank accelerator and 500 Startups.
Telecommunications operators - Rostelecom, VimpelCom, MTS and Megafon - are already working in the field of smart housing and utilities. According to Megafon estimates, by 2022 this market in Russia will reach $15 million.