Aurora Russia has wholly acquired Russian Volzhski Universalny Bank (VUB) through its Cypriot holding Flexinvest. Of the £6.36m invested in Flexinvest, £4.52m was used to purchase VUB, the £1.87m balance was invested in the bank to cover post-acquisition infrastructure costs and fund ongoing operations. VUB will provide Aurora Russia with a retail banking platform that will focus primarily on retail mortgages, providing synergies with Kreditmart, the loan supermarket owned by Aurora Russia. The deal has been approved by the Central Bank of Russia.
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Company plans to use the fresh capital to further expand, develop new features and scale up its team
EVentures, 468 Capital and HV Holtzbrinck back the round for the climate change mitigation app
Clessidra has been in negotiations for the acquisition of the Italian wine producer since February 2020