Advice Wallet raises $1.5m in funding round

The Moscow-based fund's portfolio is focused entirely on mobile apps, and has a number of investments in fintech start-ups.

Life.SREDA completed its first exit in February this year, when it sold its stake in US fintech company Simple to BBVA for $117m.

Company
Owned by Advice Wallet, Settle is a mobile payment services app for restaurant patrons in eastern Europe, not dissimilar to MPay, which was recently introduced in the UK.

The app allows customers to order food and drinks, pay the bill, and tip from their phone, by connecting to the user's bank card, though it does not store the card's information. Though the subscription to the service is free, the company charges a commission on each bill.

Settle expects to officially launch its app in Kiev on August 8, with launches in Moscow and Warsaw to follow, expanding in its initial target market of eastern Europe.

People
Stas Matvienko is CEO of Advice Wallet.

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• Topics
• Expansion
• CEE
• Ukraine
• Russia