Dragon Capital backs Portmone

The investment bank invested via its Europe Virgin Fund, a $57m vehicle that invests in companies based in Ukraine, Belarus and Moldova across a broad range of industries including pharmaceutical, consumer and technology.

Dragon is believed to have acquired a stake in excess of 50% through the business's holding company Budus Investments. Portmone's founding shareholders have retained a minority stake in the business.

Dragon and the company plan on rolling out new products following the transaction, as well as expanding Portmone's client base.

Company
Portmone was founded in 2002 and is headquartered in Kiev. The company provides online payment services for banks, companies and online shops.

Portmone offers payment tools for the websites and mobile applications of online stores, as well as direct debit services and mobile phone payment options for companies.

For banks, the company offers direct debit services, embedded payments, telebanking and online bank loan repayment options.

Portmone claims to have more than 1 million active users across 1,400 organisations.

People
Igor Gorin is the CEO of Portmone. Andriy Nosok and Alex Munteanu are managing directors at Dragon. Munteanu is also head of private equity at the investment bank.

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• Topics
• CEE
• Buyouts
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